Wafrah Reports SAR 33.29M Net Loss in the Six Months 2026
WAFRAH 2100.SA | 0.00 |
On 2026-08-11 16:29:59 (Saudi Time), Wafrah for Industry and Development Co.(2100.SA) announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 24,317,029.22 | 9,408,707.57 | 158.452 | 22,881,483.27 | 6.273 |
| Gross Profit (Loss) | 8,103,782.26 | -1,269,793.83 | - | 2,471,338.1 | 227.91 |
| Operational Profit (Loss) | -13,841,296.53 | -17,858,875.77 | -22.496 | -8,418,797.7 | 64.409 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -33,290,996.96 | -15,472,124.95 | 115.167 | -10,669,692.32 | 212.014 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -33,360,666.86 | -15,500,401.45 | 115.224 | -10,642,668.92 | 213.461 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 47,198,512.49 | 66,157,975.55 | -28.657 |
| Gross Profit (Loss) | 10,575,120.36 | 16,284,878.17 | -35.061 |
| Operational Profit (Loss) | -22,260,094.23 | -13,116,379.59 | 69.712 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -33,290,996.96 | -10,998,294.68 | 202.692 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -33,360,666.86 | -11,022,187.08 | 202.668 |
| Total Shareholders Equity (after Deducting Minority Equity) | 157,733,144.1 | 191,093,811.5 | -17.457 |
| Profit (Loss) per Share | -1.44 | -0.48 | |
| 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 | -72,920,900.96 | 31 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Sales/Revenue declined 28.657% YoY to SAR 47.20 million (from SAR 66.16 million), primarily due to lower sales volumes across key operating segments, despite growth in the Vegetables segment driven by private-label manufacturing contracts and improved production capacity utilization. Net loss attributable to shareholders widened significantly by 202.692% YoY to SAR 33.29 million (from SAR 11.00 million), mainly driven by higher expected credit loss provisions, fair value losses on investments, and the recognition of an inventory impairment provision, which more than offset the benefits of lower operating expenses including selling, distribution, and administrative costs. The operational loss also deepened 69.712% YoY to SAR 22.26 million (from SAR 13.12 million), reflecting the combined pressure of reduced revenue and elevated non-cash charges during the period.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 6.273%, from SAR 22.88 million (SAR 22,881,483.27) to SAR 24.32 million (SAR 24,317,029.22), driven by increased sales volumes across key operating segments, particularly Vegetables, Pasta, and Meat. Despite the revenue improvement, net loss deepened significantly by 212.014% QoQ, from SAR -10.67 million (SAR -10,669,692.32) to SAR -33.29 million (SAR -33,290,996.96), primarily due to higher expected credit loss provisions, fair value losses on investments, and the recognition of an inventory impairment provision, which more than offset the benefits of higher sales, lower operating expenses, and improved production capacity utilization.
Other Items
Wafrah for Industry and Development Co.'s interim financial results for the six months ended June 30, 2026 received an unmodified conclusion from the external auditor, with no additional comments noted in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Accumulated losses stood at SAR 72,920,900.96, representing 31% of the company's capital. Total shareholders' equity (after deducting minority equity) declined 17.457% to SAR 157,733,144.1 compared to SAR 191,093,811.5 in the same period of the prior year. Loss per share for the current period was SAR -1.44, compared to SAR -0.48 in the same quarter of the previous year. Some comparative figures for the previous period have been reclassified to conform to the current period's presentation.
Original announcement:
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