United Mining Industries Reports SAR 9.11M Net Profit in the Six Months 2026
UNITED MINING 9583.SA | 0.00 |
On 2026-08-27 09:25:37 (Saudi Time), United Mining Industries 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 | 118,328 | 99,267 | 19.201 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 9,109 | 9,956 | -8.507 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 208,385 | 190,337 | 9.482 | ||
| Profit (Loss) per Share | 0.65 | 0.71 | |||
| 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 | - | - | |
| Accumulated Losses | - | - | |
| 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 revenues during the current period compared to the same period of the prior year is mainly attributable to the increase in export sales, in addition to the growth in sales of gypsum products and cement boards. |
| 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 during the current period compared to the same period of the prior year is mainly attributable to the increase in cost of revenue at a higher rate than revenue, higher selling and marketing expenses, higher finance costs, and the recognition of a deferred tax charge during the period, despite the increase in revenues. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Corresponding figures have been rearranged and reclassified, wherever necessary for the purpose of comparison and for better presentation. |
| Additional Information |
Acquisition by Knauf International GmbH
On 25 Dhul-Qidah 1447H (Corresponding to 12 May 2026G), Knauf acquired 63.2% of the Company's shareholding, comprising 8,850,669 shares, through a private transaction and became the Company's Controlling Foreign Shareholder. Following the transaction, the Company updated its commercial registration, and the Articles of Association are currently in the process of being updated.
On 7 Moharram 1448H (Corresponding to 22 June 2026G), Knauf announced its firm intention to make a tender offer to acquire up to 100% of the remaining shares of the Company, in accordance with the Merger and Acquisitions Regulations. The tender offer remains subject to the applicable regulatory procedures and the publication of the offer document. |
Year-on-Year Performance Drivers
Sales/Revenue increased 19.201% YoY from SAR 99.27 million to SAR 118.33 million, primarily driven by higher export sales and growth in gypsum products and cement boards sales. Despite the revenue growth, net profit attributable to shareholders declined 8.507% YoY from SAR 9.96 million to SAR 9.11 million, mainly due to cost of revenue rising at a faster rate than revenue, higher selling and marketing expenses, increased finance costs, and the recognition of a deferred tax charge during the period.
Other Items
United Mining Industries Co. received an unmodified conclusion from its external auditors for the six-month period ending June 30, 2026. Total shareholders' equity (after deducting minority equity) stood at SAR 208,385 thousand, up 9.482% from SAR 190,337 thousand in the same period of the prior year. Earnings per share declined to SAR 0.65 from SAR 0.71 in the prior year period. No accumulated losses were reported. Corresponding figures have been rearranged and reclassified wherever necessary for comparison and better presentation. Additionally, on 12 May 2026, Knauf International GmbH acquired 63.2% of the Company's shareholding, comprising 8,850,669 shares, through a private transaction and became the Company's Controlling Foreign Shareholder; following the transaction, the Company updated its commercial registration, and the Articles of Association are currently in the process of being updated. On 22 June 2026, Knauf announced its firm intention to make a tender offer to acquire up to 100% of the remaining shares of the Company in accordance with the Merger and Acquisitions Regulations, with the tender offer remaining subject to applicable regulatory procedures and the publication of the offer document.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97827&anCat=1&cs=9583&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.