Riyadh - Mubasher: Morabaha Marina Financing Company incurred a net loss of SAR 26.38 million for the first half (H1) of 2026, compared to a net profit of SAR 2.98 million during the same period in 2025.
The company’s revenue for the six-month period fell by 18.94% to SAR 85.23 million from SAR 105.14 million a year earlier. Loss per share stood at SAR 0.38.
For the second quarter (Q2) of 2026, the net loss reached SAR 22.87 million, a sharp increase from the SAR 1.24 million loss recorded in the corresponding quarter of 2025.
Quarterly revenue declined by 27.26% to SAR 38.53 million. The company attributed the downturn to a decrease in financing volumes granted to customers and the suspension of revenue recognition for non-performing loans.
Financial results were further impacted by a rise in impairment losses on the financing portfolio.
Additionally, the company recorded a SAR 544,555 provision related to geopolitical uncertainties.
Total shareholders' equity, excluding non-controlling interests, stood at SAR 802.96 million as of 30 June 2026, representing a 3.69% decrease from SAR 833.69 million in the prior-year period.
At the end of March 2026, the company shifted to net losses valued at SAR 3.51 million, a significant reversal from the SAR 4.22 million in net profit achieved a year earlier.
