Miahona Reports SAR 6.5M Net Profit in the Six Months 2026
MIAHONA 2084.SA | 0.00 |
On 2026-08-09 08:13:33 (Saudi Time), Miahona Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 116 | 186.6 | -37.834 | 117.7 | -1.444 |
| Gross Profit (Loss) | 12.7 | 20.7 | -38.647 | 13.7 | -7.299 |
| Operational Profit (Loss) | 4.6 | 9.9 | -53.535 | 6.1 | -24.59 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 2.8 | 7.3 | -61.643 | 2.6 | 7.692 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 10.1 | -9.3 | - | 9.5 | 6.315 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 233.8 | 361.7 | -35.36 |
| Gross Profit (Loss) | 26.5 | 82.5 | -67.878 |
| Operational Profit (Loss) | 10.7 | 75.8 | -85.883 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 6.5 | 70.2 | -90.74 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 19.6 | 43.7 | -55.148 |
| Total Shareholders Equity (after Deducting Minority Equity) | 470.2 | 470.1 | 0.021 |
| Profit (Loss) per Share | 0.03 | 0.43 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Miahona Co. reported a 35.36% YoY decline in consolidated sales/revenue to SAR 233.8 million (from SAR 361.7 million), primarily driven by lower construction revenue as the Ras Tanura Project (IWWTP) approached its scheduled completion, as well as lower development income. Net profit attributable to shareholders fell sharply by 90.74% YoY to SAR 6.5 million (from SAR 70.2 million), mainly due to the significant drop in gross profit resulting from the lower revenue base and a reduction in other income.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined slightly by 1.444% to SAR 116 million (vs. SAR 117.7 million in the previous quarter), driven by lower construction revenue, partially offset by higher operations and maintenance revenue as well as water and wastewater revenue. Despite the marginal revenue dip, net profit attributable to shareholders rose 7.692% QoQ to SAR 2.8 million (from SAR 2.6 million), primarily due to higher finance income on concession contract receivables.
Other Items
The external auditor issued an unmodified conclusion on Miahona Co.'s interim financial results for the six months ended June 30, 2026, with no additional comments noted in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders' equity (after deducting minority equity) stood at SAR 470.2 million, nearly unchanged from SAR 470.1 million in the same period of the prior year (a 0.021% change). Earnings per share for the current period were SAR 0.03, compared to SAR 0.43 in the same period of the previous year. Total comprehensive income attributable to shareholders of the issuer for the current period was SAR 19.6 million, down 55.148% from SAR 43.7 million in the prior-year period. No material risks, going concern uncertainties, accumulated losses, or reclassification of comparison items were reported.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97381&anCat=1&cs=2084&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/20953_5846_2026-08-08_12-10-27_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.