SASCO Reports Net Profit of SAR 56.81M in the Three Months 2026
SASCO 4050.SA | 0.00 |
On 2026-08-12 16:03:12 (Saudi Time), Saudi Automotive Services Co.(4050.SA) announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Saudi Automotive Services Company (SASCO) dated August 5, 2026, regarding the Interim Financial Results for the Period Ended on June 30, 2026 (Six Months).
Following the above-mentioned announcement and prior to the completion of the external auditor's signing of the financial statements, the Company received a notice from the investment fund regarding the fair value of its investment in xAI, This valuation was received late due to the nature of investment funds; however, the valuation date is June 30, 2026, meaning it relates to the same announced period, and the Company announced it immediately upon receiving the updated valuation on August 6, 2026. In accordance with the (IFRS) and in application of best practices, given the existence of a material impact relating to the period of the announced financial results and the occurrence of this event prior to the external auditor's signing of the financial statements, the financial statements for the period were required to be amended to reflect the fair value of this investment. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2026-08-05 Corresponding to 1448-02-22 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | As Attached |
| Financial Impact on the change | Amending the net profit attributable to the shareholders of the parent company for the three-month period ended on June 30, 2026, to become 56.81 million instead of a loss of (5.98) million.
And amending the net profit attributable to the shareholders of the parent company for the six-month period ended on June 30, 2026, to become 33.11 million instead of a loss of (29.69) million. |
Other Items
Saudi Automotive Services Company (SASCO) issued an addendum to its interim financial results announcement dated August 5, 2026, for the period ended June 30, 2026, following the receipt of an updated fair value valuation for its investment in xAI from an investment fund. The valuation, dated June 30, 2026, was received on August 6, 2026, prior to the external auditor's signing of the financial statements, and in accordance with IFRS, the financial statements were required to be amended to reflect this fair value. As a result, the net profit attributable to shareholders of the parent company for the three-month period ended June 30, 2026, was revised to a profit of 56.81 million(currency not specified in original) from a previously reported loss of (5.98) million(currency not specified in original), and the net profit attributable to shareholders of the parent company for the six-month period ended June 30, 2026, was revised to a profit of 33.11 million(currency not specified in original) from a previously reported loss of (29.69) million(currency not specified in original).
Original announcement:
Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.
Important 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.