On 2026-07-16 08:00:49 (Saudi Time), Ladun Investment Co. announced its Interim financial results for the three months ended on March 31, 2026.

Year-on-Year Performance Drivers

Sales/Revenue declined 49.814% YoY from SAR 325.36 million to SAR 163.28 million (converted from Actual: 325,357,368 / 1,000,000 = SAR 325.36 million; 163,281,856 / 1,000,000 = SAR 163.28 million), primarily driven by a SAR 145 million drop in the Real Estate Development segment due to the completion and handover of off-plan sales projects, compounded by a 40% decline in Industrial segment revenue following the completion of three major projects within the Red Sea Amaala Project, partially offset by an 11% increase in Contracting segment revenue from higher project completion rates. Net loss attributable to shareholders widened significantly by 614.218% YoY, from SAR -5.57 million to SAR -39.77 million (converted: -5,567,817 / 1,000,000 = SAR -5.57 million; -39,766,364 / 1,000,000 = SAR -39.77 million), driven by the continued recognition of finance costs and general and administrative expenses alongside the sharp revenue decline.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 39.242% to SAR 163.28 million (from SAR 268.74 million), driven primarily by a drop in Real Estate Development segment revenue following the completion of major off-plan sales projects, compounded by delays in the commencement of several projects that adversely impacted all business segments. Despite the revenue decline, the net loss narrowed 31% QoQ to SAR 39.77 million (from SAR 57.63 million), though losses persisted due to the continued recognition of finance costs and general and administrative expenses.

Other Items

Ladun Investment Co.'s external auditor issued an unmodified conclusion for the three months ended March 31, 2026, with no additional comments noted in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Gross profit declined 60.013% YoY to SAR 19,723,643 and 6.382% QoQ from SAR 21,068,251. Operational loss was SAR -15,198,588 for the current quarter, compared to an operational profit of SAR 16,566,593 in the same quarter of the previous year, and an improvement from the prior quarter's operational loss of SAR -26,518,628. Total comprehensive loss attributable to shareholders was SAR -38,341,364, compared to SAR -8,322,817 in the same quarter of the prior year and SAR -58,159,541 in the previous quarter. Loss per share stood at SAR -0.08, versus SAR -0.01 in the same quarter of the prior year. Total shareholders' equity (after deducting minority equity) decreased 13.954% YoY to SAR 539,160,279 from SAR 626,596,827. Certain comparative figures have been reclassified.

Original announcement:

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