Tourism Enterprise Reports SAR 4.53M Net Loss in Three Months 2026
TECO 4170.SA | 0.00 |
On 2026-05-07 15:47:14 (Saudi Time), Tourism Enterprise Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,576,164 | 1,411,427 | 11.671 | 2,871,989 | -45.119 |
| Gross Profit (Loss) | -1,385,919 | -1,087,755 | 27.41 | -880,025 | 57.486 |
| Operational Profit (Loss) | -2,477,676 | -2,881,491 | -14.014 | -3,800,399 | -34.804 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -4,529,101 | 726,231 | - | -8,079,621 | -43.944 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -4,559,101 | 717,726 | - | -14,951,736 | -69.507 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 480,750,392 | 504,422,471 | -4.692 |
| Profit (Loss) per Share | -0.078 | 0.013 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | 84,690,645 | 14.6 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 11.67% YoY to SAR 1.58 million due to the inclusion of the Eid al-Fitr holiday in the current quarter. However, the company swung from a net profit of SAR 0.73 million in the prior year to a net loss of SAR 4.53 million, primarily driven by decreased Islamic profit rates and declining fair value of financial assets.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 45.12% from 2.87 million to 1.58 million Saudi Riyals due to the impact of sales during the entire month of Ramadan in the current quarter. Net loss improved 43.94% from -8.08 million to -4.53 million Saudi Riyals, primarily driven by decreased zakat provision and reduced operating costs and expenses.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. The company's accumulated losses stand at SAR 84,690,645, representing 14.6% of capital. Total shareholders' equity decreased 4.692% year-over-year to SAR 480,750,392. Earnings per share declined from SAR 0.013 profit in the prior year quarter to SAR -0.078 loss in the current quarter. Certain comparative figures for the prior period have been reclassified to conform to the current period's presentation.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95080&anCat=1&cs=4170&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.