Jabal Omar Development Company (4250) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was SR 739.2 million, a slight decrease from SR 747.7 million in Q1 2025, with net profit dropping to SR 117.0 million from SR 945.9 million year-over-year.

• Gross profit declined to SR 317.7 million from SR 331.9 million, reflecting higher impairment charges and lower other operating income compared to the prior year.

• The period saw a significant reduction in other operating income, as the prior year included a one-time gain from land sale.

Financial highlights

• Operating profit for Q1 2026 was SR 244.2 million, down from SR 1,072.4 million in Q1 2025, mainly due to the absence of a large one-off gain.

• Earnings per share fell to SR 0.10 from SR 0.80 year-over-year.

• Total assets stood at SR 26.9 billion as of 31 March 2026, with equity at SR 16.0 billion and total liabilities at SR 10.9 billion.

• Net cash from operating activities increased to SR 229.5 million from SR 173.0 million year-over-year.

• Impairment charges on non-financial assets were SR 38.5 million, down from SR 124.2 million in Q1 2025.

Outlook and guidance

• Management expects continued resilience in religious tourism demand, with ongoing monitoring of geopolitical risks and operational agility to manage uncertainties.

• Liquidity and cash flow forecasts for the next 12 months remain positive, supporting the going concern assumption.