BAAN Holding turns profitable at SAR 53m in H1-26; accumulated losses eliminated

BAAN
1820 -0.48% 2.06 -0.01

Riyadh – Mubasher: BAAN Holding Group logged net profits totaling SAR 53.32 million in the first half (H1) of 2026, against net losses of SAR 16.65 million in H1-25.

The company attributed this turnaround primarily to SAR 69.53 million in capital gains from the sale of investments, alongside cost rationalization and improved operational efficiency.

Revenues for the half-year period fell by 9.77% to SAR 311.43 million from SAR 345.15 million a year earlier. The company noted that the hotel and entertainment sectors were impacted by regional geopolitical events, though catering and subsistence activities saw growth.

Operating profit for the six-month period decreased by 22.07% to SAR 11.12 million.

For the second quarter (Q2) of 2026, net profit reached SAR 4.23 million, a significant increase from SAR 130,000 in the prior-year quarter. However, this represented a 91.38% decline from the SAR 49.09 million profit achieved in Q1-26, which had been bolstered by the aforementioned investment sales.

The company also confirmed it has eliminated its accumulated losses by utilizing its share premium account following extraordinary general meeting (EGM) approval on 28 June 2026. Consequently, total equity stood at SAR 874.86 million as of 30 June .

Source: Mubasher Source: {{details.article.source}}