Jabal Omar’s net profits exceed SAR 158m in Q2-26

JABAL OMAR
4250 2.94% 16.47 0.47

Riyadh - Mubasher: Jabal Omar Development Company generated net profits of SAR 158.13 million for the second quarter (Q2) of 2026, reversing a net loss of SAR 42.06 million recorded during the same period last year.

Revenue for the quarter rose by 42.55% to SAR 715.15 million, compared to SAR 501.70 million in the prior-year quarter.

The company attributed the quarterly performance to the continued improvement in hotel operations, particularly during the Hajj season, and the opening of the Rotana Hotel earlier this year.

Financial results were further supported by a SAR 120 million reduction in impairment charges and a SAR 67 million decline in financing costs following a one-time accounting settlement related to debt refinancing.

For the first six months (6M) of 2026, net profit reached SAR 275.12 million, down from SAR 903.88 million in the first half (H1) of 2025. The company noted that the previous year's figures included exceptional gains of SAR 918 million from land sales.

Adjusted EBITDA for H1-26 stood at SAR 793 million, representing a 15% year-on-year (YoY) increase. Total equity reached SAR 16.14 billion, while total debt was reduced to SAR 9.10 billion.

In Q1-26, the group’s net profits shrank by 87.63% YoY to SAR 116.99 million from SAR 945.94 million.

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