On 2026-07-28 16:31:02 (Saudi Time), Saudi Industrial Export Co. announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

Sales/Revenue figures are recorded as "-" (no valid data) for both the current and prior periods, as the company suspended its operational activities from Q4 2024 to focus on investment activities. For the six-month period ending 30 June 2026, the net loss attributable to shareholders narrowed significantly to SAR 1.89 million from SAR 6.08 million in the same period last year (a 68.949% improvement), driven by growth in unrealized gains from the revaluation of investments at fair value, restructuring of the investment portfolio, divestment from certain loss-making investments, and tighter control of general and administrative expenses, partially offset by a newly introduced Zakat provision for fiscal year 2026 that had not been applied in prior years.

Quarter-on-Quarter Performance Drivers

QoQ, revenues remained nil as the company has suspended all operational activities since Q4 2024, with management redirecting focus entirely to investment activities. Net loss attributable to shareholders narrowed significantly QoQ, from SAR 1.46 million (SAR 1,461.24 thousands) to SAR 0.43 million (SAR 427.742 thousands), a 70.727% improvement, driven by growth in unrealized gains from the revaluation of investments at fair value, restructuring of the financial portfolio, and divestment from certain loss-making investments, alongside tighter control of general and administrative expenses. These improvements were partially offset by the recognition of a new Zakat provision for fiscal year 2026, which had not been applied in the prior quarter.

Other Items

The external auditor issued a "Notice" type report for the six-month period ended 30 June 2026, drawing attention to a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. As cited in the auditor's report: "The Group did not generate any operating revenues for the six-month period ended 30 June 2026. Additionally, the Group incurred a net loss of SAR 1,888,980 for the six-month period ended 30 June 2026 (30 June 2025: SAR 6,083,503). Furthermore, the accumulated losses reached SAR 96,836,891 as of 30 June 2026 (31 December 2025: SAR 94,947,911)." The auditor further noted that "these circumstances indicate the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern," while also stating that management has performed a going concern assessment and the financial statements have been prepared on that basis, with the auditor's conclusion not modified in respect of this matter. Accumulated losses stood at SAR 96,836.89 thousands, representing 49.81% of capital. Total shareholders' equity (after deducting minority equity) declined to SAR 98,134.08 thousands as of 30 June 2026, compared to SAR 118,862.57 thousands in the same period of the prior year, a decrease of 17.439%. Loss per share for the current period was SAR -0.01, compared to SAR -0.03 in the same period last year. Comparative figures in the financial statements have been reclassified.

Original announcement:

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