Morabaha Marina Reports SAR 3.51M Net Loss in Three Months 2026
MRNA 4082.SA | 0.00 |
On 2026-06-17 15:58:08 (Saudi Time), Morabaha Marina Financing Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 46,692,435 | 52,802,315 | -11.571 | 54,392,555 | -14.156 |
| Gross Profit (Loss) | 35,561,307 | 39,684,748 | -10.39 | 41,490,537 | -14.29 |
| Operational Profit (Loss) | -3,169,971 | 3,297,501 | - | -1,418,015 | 123.549 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -3,509,973 | 4,219,766 | - | -231,546 | 1,415.885 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -3,509,973 | 4,219,766 | - | -2,603,509 | 34.817 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 825,838,533 | 846,653,861 | -2.458 |
| Profit (Loss) per Share | -0.05 | 0.06 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Revenue declined 11.57% YoY to SAR 46.69 million from SAR 52.80 million, primarily due to decreased financing amounts granted to customers and suspension of revenue recognition on non-performing loans. The company shifted from a net profit of SAR 4.22 million in the prior year to a net loss of SAR 3.51 million in the current quarter, driven by reduced revenues and increased impairment losses for the financing portfolio, partially offset by decreased losses from the subsidiary Loop.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 14.16% to SAR 46.69 million from SAR 54.39 million, primarily due to decreased financing amounts granted to customers and suspension of revenue recognition on non-performing loans. Net loss deepened by 1,415.89% to SAR 3.51 million from SAR 0.23 million loss in the previous quarter, driven by the revenue decline and partially offset by reduced losses from subsidiary Loop.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or qualifications noted. Management restated comparative figures in accordance with IAS 8 to enhance accuracy and IFRS compliance, including reclassification of transaction cost amortization from special commission expenses to income per IFRS 9 requirements, and reclassification of repossessed assets back to Islamic financing receivables as foreclosure processes were incomplete. Total shareholders equity decreased 2.458% to SAR 825,838,533 from SAR 846,653,861 in the prior year, while earnings per share turned negative at SAR -0.05 compared to SAR 0.06 positive in the corresponding prior year quarter.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96174&anCat=1&cs=4082&locale=arImportant 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.