Riyadh - Mubasher: Saudi Automotive Services Company (SASCO) turned to net loss amounting to SAR 5.98 million for the second quarter (Q2) of 2026, compared to net profit of SAR 29.7 million in Q2-25.
The company attributed the decline to higher cost of sales, lower other operating income, and the absence of investment valuation gains from xAI that were recorded in the previous year.
Quarterly revenue rose by 12.22% to SAR 3.23 billion from SAR 2.87 billion a year earlier. This growth was driven by an expansion of the station network to 722 locations and higher diesel prices. Operating profit for the quarter fell by 32.32% to SAR 35.96 million.
For the first half (H1) of 2026, the company recorded a net loss of SAR 29.69 million, compared to a net profit of SAR 33.98 million in H1-25.
Half-year revenue reached SAR 6.25 billion, a 10.87% increase year-on-year (YoY).
Loss per share for the period stood at SAR 0.42. Total shareholders' equity, excluding non-controlling interests, was reported at SAR 855.78 million.
SASCO noted that current results do not include updated valuations for its xAI investment as updated figures were not received from the fund manager.
As of 31 March 2026, the listed company shifted to net losses valued at SAR 23.70 million, against net profits valued at SAR 4.28 million in Q1-25.
