Wafrah Reports SAR 10.67M Net Loss in Three Months 2026
WAFRAH 2100.SA | 0.00 |
On 2026-05-12 15:41:46 (Saudi Time), Wafrah for Industry and Development 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 | 22,881,483 | 57,493,427 | -60.201 | 24,670,488 | -7.251 |
| Gross Profit (Loss) | 2,471,338 | 16,477,662 | -85.001 | -8,135,063 | - |
| Operational Profit (Loss) | -8,418,798 | 4,742,496 | - | -27,338,136 | -69.204 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -10,669,692 | 4,473,830 | - | -26,686,648 | -60.018 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -10,642,669 | 4,478,215 | - | -27,515,405 | -61.321 |
| 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) | 180,451,142.08 | 243,459,946 | -25.88 |
| Profit (Loss) per Share | -0.46 | -0.19 | |
| 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 | -50,299,596 | 21.7 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 60.20% YoY to SAR 22.88 million primarily due to lower sales volumes across key operating segments, particularly Vegetables, Pasta, and Meat. The company shifted from a net profit of SAR 4.47 million to a net loss of SAR 10.67 million, driven by reduced revenue, poor absorption of fixed costs due to lower production rates, and negative fair value changes on investments. The fixed operating cost structure and unutilized energy costs associated with lower production run rates led to increased margin pressure and weaker operating performance.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 7.25% to SAR 22.88 million due to lower sales volumes across key operating segments, particularly Vegetables, Noodles and Meat segments, reflecting weaker demand in certain channels during the period. Net loss improved 60.02% to SAR 10.67 million from the previous quarter's SAR 26.69 million loss, primarily driven by the revenue decline but benefiting from better cost absorption compared to the prior quarter's significantly higher losses.
Other Items
The auditor issued an unmodified conclusion but included an emphasis of matter paragraph highlighting material uncertainty regarding the company's ability to continue as a going concern. The auditor noted that the company incurred a net loss of SAR 10.7 million during the three-month period, accumulated losses of SAR 50.3 million, negative operating cash flows of SAR 7.1 million, and significant revenue decline compared to the prior year period. Accumulated losses reached SAR 50,299,596, representing 21.7% of the company's paid-up capital as of March 31, 2026, triggering the application of procedures and instructions for listed companies whose accumulated losses reach 20% or more of their capital. Total shareholders' equity decreased 25.88% to SAR 180,451,142.08, and loss per share widened to SAR 0.46 compared to earnings per share of SAR 0.19 in the same quarter of the previous year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95313&anCat=1&cs=2100&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.