Bawan earns SAR 105.9M in H1 2026, SAR 53.9M in Q2

29/07/2026 Argaam Exclusive

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Bawan Co. net profit fell to SAR 105.6 million in H1 2026 from SAR 181.1 million a year before.



Financials (Million Riyal)

Item 6m 2025 6m 2026 Change‬
Revenues 1,876.32 2,001.84 6.7 %
Gross Income 258.56 384.00 48.5 %
Operating Income 129.58 214.69 65.7 %
Net Income 181.04 105.87 (41.5 %)
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyals) 0.91 2.73 200.2 %
EPS (Riyal) 3.02 1.76 (41.5 %)

The drop in earnings was primarily attributable to the recognition of a non-recurring, non-cash bargain purchase gain of SAR 126 million related to the acquisition of the oil & gas business in Q1 2025.

 

Bawan also reported lower net profit from the electrical industries segment due to a decline in sales volumes and average selling prices, resulting in a lower gross profit margin.

 

This comes in addition to lower net profit from the wood products segment due to reduced sales volumes, which led to lower gross profit.

 

Meanwhile, the company recorded higher amortization expense related to non-cash intangible assets recognized in 2025 following the purchase price allocation (PPA) for the oil & gas acquisition of SAR 72 million in H1 2026 compared to SAR 40 million in H1 2025.

 

Furthermore, Bawan realized higher operating expenses and Zakat expense.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q2 2025 Q2 2026 Change‬
Revenues 966.14 970.52 0.5 %
Gross Income 154.61 193.66 25.3 %
Operating Income 82.57 103.13 24.9 %
Net Income 31.93 53.94 68.9 %
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyal) 0.53 1.30 144.1 %
EPS (Riyal) 0.53 0.90 68.9 %

The company's Q2 2026 net profit soared 68.9% to SAR 53.94 million, from SAR 31.93 million in Q2 2025, mainly due to an increase in revenues from the oil and gas, as well as plastic segments.

 

Sequentially, the second-quarter net earnings rose 3.9% from SAR 51.92 million in Q1 2026.

 

Shareholders' equity, after minority interest, rose to SAR 1.16 billion by the end of H1 2026, from SAR 1.08 billion in the prior-year period.

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Share Price

Bawan Co.
36.34
(0.46) (1.25 %)

Bawan Co. (BAWAN)

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Financial Ratios
Current
Market Cap (M Riyal) 2,180.40
Enterprise Value (EV) (M Riyal) 3,335.45
Shares Outstanding ((M)) 60.00
Recurring EPS ( Riyal) (TTM) 3.27
Book Value (BV) ( Riyal) 19.37
Par Value ( Riyal) 10.00
Recurring P/E (TTM) 11.12
P/E (TTM) 15.23
Price/book 1.88
Dividend Yield (%) (Last Year) -
Return on Average Assets (%) (TTM) 3.9
Return on Average Equity (%) (TTM) 12.7
EV/adj EBITDA 5.19
EV/Revenues 0.80
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