Service Equipment Co. Reports SAR 3.71M Net Profit in the Six Months 2026
SERVICE EQUIPMENT 9633.SA | 0.00 |
On 2026-08-27 08:14:51 (Saudi Time), Service Equipment Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 28,192 | 26,400 | 6.787 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 3,708 | 4,566 | -18.791 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 47,975 | 46,454 | 3.274 | ||
| Profit (Loss) per Share | 1.55 | 1.9 | |||
| All figures are in (Thousands) 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 (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in sales value is attributed to the acquisition of new customers, in addition to an increase in order volume and after-sales service revenue. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The decrease in net profit is attributed to the lower profit margin, driven by increased competition and higher cost of sales. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Not Applicable |
| Additional Information | IFRS 18, Presentation and Disclosure in Financial Statements, is applicable for annual reporting periods beginning on January 1, 2027. The Company is currently assessing the impact of adopting the new standard and intends to apply the standard from its mandatory effective date. |
Year-on-Year Performance Drivers
Sales/Revenue increased 6.787% YoY to SAR 28.19 million (from SAR 26.40 million), driven by the acquisition of new customers, higher order volumes, and growth in after-sales service revenue. Despite the top-line improvement, net profit attributable to shareholders declined 18.791% YoY to SAR 3.71 million (from SAR 4.57 million), as profit margins were compressed by intensified competition and a higher cost of sales.
Other Items
The external auditor issued an unmodified conclusion for the interim period ending June 30, 2026. Total shareholders' equity (after deducting minority equity) stood at SAR 47,975 thousand, up 3.274% from SAR 46,454 thousand in the same period of the prior year. Earnings per share declined to SAR 1.55 from SAR 1.90 in the prior comparable period. No accumulated losses or fair value changes in investment properties were reported. The company noted that IFRS 18, Presentation and Disclosure in Financial Statements, becomes applicable for annual reporting periods beginning January 1, 2027, and the company is currently assessing the impact of adopting the new standard, with the intention to apply it from its mandatory effective date. No material risks, going concern uncertainties, or debt covenant breaches were disclosed.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97821&anCat=1&cs=9633&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.