On 2026-06-23 08:01:01 (Saudi Time), Consolidated Grunenfelder Saady Holding Co. announced its Annual financial results for the year ended on March 31, 2026.

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	CGS generated total revenue of SAR 477.1 million in FY26, compared to SAR 504.3 million in FY25, representing a YoY decrease of 5.4%. Automotive Solutions segment: A normalization of market share and late year delays in expected customer orders, pointing to an overall softening of sentiment in the latter stages of FY26, resulted in a decline in revenue of 19.7% after an unusually strong FY25 which saw higher than average market share. At the same time, geopolitical developments in the region disrupted supply chains during late Q4, resulting in delays in project execution. Despite these pressures, overall revenue performance improved YoY in the Stationary Refrigeration and Customized Solutions segments, highlighting effective diversification, steady demand and a healthy backlog pipeline.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	CGS recorded a net profit of SAR 46.6 million in FY26, marking a 29.6% decline from SAR 66.2 million in FY25. The net profit margin also declined to 9.8%, compared to 13.1% in the previous year. This was the result of: Gross profit declined 9.9% to SAR 104.2 million in FY26, with margins contracting to 21.8% due to a shift in revenue mix but was in line with expectations. This reflects the increasing contribution of Stationary Refrigeration, which is dilutive in the short term but a key driver of long-term margin expansion as the segment increases the scale of its operations and the future service base that this business is creating. G&A expenses increased 7.4% to SAR 34.8 million driven by organizational investments to support public listing requirements, including an expanded Board of Directors, key hires, and listing-related fees. An increase in bad debt provisions also contributed to the increase in cost YoY. EBITDA decreased to SAR 61.7 million from SAR 77.2 million in FY25, with the margin compressing to 12.9% from 15.3%, primarily reflecting lower gross profit, the above-mentioned organizational investments, and increased bad debt provisions.
Statement of the type of external auditor's report	Unmodified opinion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	None
Reclassification of Comparison Items	Some comparative figures have been reclassified. The details of the reclassification are available in notes to financial statements.
Additional Information	-
Attached Documents

Year-on-Year Performance Drivers

Sales declined 5.39% YoY to SAR 477.14 million primarily due to a 19.7% revenue drop in the Automotive Solutions segment caused by market share normalization, delayed customer orders, and geopolitical supply chain disruptions in Q4. Net profit fell 29.62% to SAR 46.60 million driven by lower gross profit from revenue mix shifts toward lower-margin Stationary Refrigeration business, increased G&A expenses of 7.4% for organizational investments related to public listing requirements, and higher bad debt provisions. Despite revenue pressures in Automotive Solutions, the Stationary Refrigeration and Customized Solutions segments showed YoY improvement, demonstrating effective diversification.

Quarter-on-Quarter Performance Drivers

Revenue declined 5.4% to SAR 477.14 million due to a 19.7% drop in the Automotive Solutions segment from market share normalization, delayed customer orders, and geopolitical supply chain disruptions in Q4. Net profit fell 29.6% to SAR 46.60 million primarily driven by a 9.9% gross profit decline from revenue mix shifts toward lower-margin Stationary Refrigeration business. Additionally, G&A expenses increased 7.4% to SAR 34.8 million due to organizational investments for public listing requirements and higher bad debt provisions.

Other Items

The external auditor issued an unmodified opinion with no additional comments, conservation notices, disclaimers, or adverse opinions reported. The company achieved a net profit margin of 9.8% in FY26 compared to 13.1% in the previous year, with total shareholders equity increasing 23% to SAR 200,133,907. Earnings per share decreased from SAR 0.66 to SAR 0.47, while EBITDA margin compressed to 12.9% from 15.3% in FY25. Some comparative figures were reclassified with details available in the financial statement notes.

Original announcement:

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