On 2026-08-05 15:36:33 (Saudi Time), Scientific & Medical Equipment House Co. announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending June 30, 2026, sales/revenue declined 18.268% YoY to SAR 404 million (from SAR 494.3 million), primarily driven by a non-recurring merchandise sale of SAR 57.1 million recorded by subsidiary Roaa Al-Himaya in the prior period, and a SAR 52 million revenue reduction in the Operations, Maintenance, and Contracting sector due to project completions, partially offset by SAR 11.7 million from new projects and SAR 7.1 million growth from other subsidiaries. Net profit attributable to shareholders decreased 4.477% YoY to SAR 19.2 million (from SAR 20.1 million), with the decline cushioned by a SAR 3.7 million (12.2%) reduction in general and administrative expenses, a SAR 2.4 million (21.7%) decrease in selling and marketing expenses, a SAR 1.5 million reduction in expected credit loss provisions driven by improved customer collections, a SAR 2.9 million decrease in zakat expense, and a SAR 1.4 million increase in other miscellaneous revenues.

Quarter-on-Quarter Performance Drivers

QoQ revenue rose 10.3% to SAR 211.9 million, driven by higher sales in the Operations & Maintenance and Medical Devices & Equipment Trading sectors (up SAR 9.4 million) and increased subsidiary revenues of SAR 10.4 million. Net profit attributable to shareholders grew 31.4% QoQ to SAR 10.9 million, primarily due to a SAR 8.2 million (95.5%) surge in operating profit stemming from stronger revenues across key sectors, a 11.6% decline in selling and marketing expenses, and a SAR 0.3 million reduction in zakat expense, partially offset by a SAR 5.9 million decrease in other miscellaneous revenues.

Other Items

The external auditor issued an unmodified conclusion on the interim financial results for the six-month period ending June 30, 2026. No material risks, going concern uncertainties, debt covenant breaches, or auditor emphasis-of-matter paragraphs were reported. Accumulated losses data was not applicable for this period. Total shareholders' equity (after deducting minority equity) stood at SAR 498.7 million as of June 30, 2026, compared to SAR 530.7 million in the same period of the prior year, a decline of 6.029%. Earnings per share for the current period were SAR 0.64, compared to SAR 0.67 in the same period of the prior year. For the current quarter ending June 30, 2026, gross profit was SAR 34.8 million (down 10.077% YoY from SAR 38.7 million), and operating profit was SAR 16.8 million (up 5% YoY from SAR 16 million), with total comprehensive income attributable to shareholders at SAR 11.7 million (down 5.645% YoY from SAR 12.4 million). For the six-month period, gross profit was SAR 60 million (down 17.241% YoY from SAR 72.5 million), operating profit was SAR 25.3 million (down 16.501% YoY from SAR 30.3 million), and total comprehensive income attributable to shareholders was SAR 20 million (down 0.497% YoY from SAR 20.1 million).

Original announcement:

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