On 2026-08-05 08:08:30 (Saudi Time), Taiba Investments 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 30 June 2026, sales/revenue rose 4.767% YoY to SAR 762.5 million from SAR 727.8 million, driven by higher revenues from the hotel portfolio, increased revenues during the Hajj and Umrah season, and the commencement of operations at newly added properties including Rixos Obhur Jeddah Resort, Novotel Madinah, and Crowne Plaza Riyadh Al Takhassusi. Net profit attributable to shareholders declined 17.114% YoY to SAR 197.6 million from SAR 238.4 million, primarily due to higher operating and depreciation expenses associated with the newly added properties, compounded by a favorable one-off impact in the prior-year period from the reversal of a legal provision following an operator settlement; excluding this one-off item, net profit would have increased by SAR 6.6 million, or 3.5%, YoY.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 2.307% to SAR 376.8 million (vs. SAR 385.7 million in the prior quarter), driven by lower occupancy rates at the Company's Riyadh hotels due to regional geopolitical conditions and seasonal fluctuations. Net profit fell 41.666% to SAR 72.8 million (vs. SAR 124.8 million in the prior quarter), attributable to the lower revenues combined with additional operating and depreciation expenses associated with newly added properties in the Company's portfolio, including Rixos Obhur Jeddah Resort, Novotel Madinah, and Crowne Plaza Riyadh Al Takhassusi.

Other Items

The external auditor issued an unmodified conclusion with no additional comments in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders' equity (after deducting minority equity) stood at SAR 6,927 million as of the current period, compared to SAR 6,807 million in the same period of the prior year, representing an increase of 1.762%. Earnings per share for the current period were SAR 0.4, compared to SAR 0.48 in the same period of the prior year. Other comprehensive income for the current period amounted to SAR 48.7 million, compared with a loss of SAR 83.5 million in the corresponding period of the prior year, primarily attributable to a rise in the fair value of financial derivatives (hedging instruments) and a rise in the market value of certain investments in other companies measured at fair value through other comprehensive income (FVOCI). Total comprehensive income attributable to shareholders for the current period was SAR 246.3 million, up 59.005% from SAR 154.9 million in the prior-year period. EPS figures have been adjusted following the Company's capital increase, which resulted in the total number of shares reaching 500 million, as approved by the Company's Extraordinary General Assembly held on 10 May 2026. Some comparative figures have been reclassified to conform with the presentation method of the current period's figures.

Original announcement:

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