Riyadh – Mubasher: Arabian Contracting Services Company (Al Arabia) shifted to net losses of SAR 447.50 million in the first nine months (9M) of 2026, compared to a net profit 47,22 million in 9M-25.
The company attributed the downturn to a 25.21% decline in revenues, which fell to SAR 1.03 billion, driven by geopolitical instability in the region and subsequent cancellations of advertising campaigns. Total equity stood at SAR 1.10 billion as of 30 September 2026.
For the third quarter (Q3), the company posted a net loss of SAR 241.92 million, representing a 193.30% increase in losses compared to Q3-25.
Quarterly revenue hit SAR 346.77 million, down from SAR 413.89 million a year earlier.
Management noted that profitability margins were further pressured by rising costs related to new advertising site contracts and operational challenges that increased rent and depreciation expenses.
After the reporting period, the group signed agreements with Saudi Awwal Bank (SAB), Banque Saudi Fransi, and Al Rajhi Bank to reschedule SAR 1.75 billion in short-term debt into medium- and long-term loans.
The restructuring includes a non-current portion of SAR 1.64 billion and a current portion of SAR 111.40 million.
Additionally, the company secured SAR 300 million in new facilities from SAB to support its financial position.
