City Cement 9M 2026 profit falls 36% to SAR 62.2M; Q3 at SAR 17.43M

09/11/2026 Argaam Exclusive

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Arabian Centres Co. (Cenomi Centers) reported a net profit of SAR 993.1 million in the first nine months of 2026, down from SAR 1.19 billion a year earlier.



Financials (Million Riyal)

Item 9m 2025 9m 2026 Change‬
Revenues 1,724.50 1,758.10 1.9 %
Gross Income 1,453.00 1,423.10 (2.1 %)
Operating Income 1,724.20 1,612.80 (6.5 %)
Net Income 1,190.47 993.10 (16.6 %)
Average Shares 517.66 517.66 -
Earnings Per Share before unusual items (Riyals) 0.78 0.88 12.2 %
EPS (Riyal) 2.30 1.92 (16.6 %)

The company said net profit in the first nine months of 2025 benefited from the full and final settlement of an insurance claim related to a fire at one of the company's assets.

 

Cost of revenue increased to SAR 335 million from SAR 271.6 million in the first nine months of 2025. This was mainly driven by development costs of SAR 32.7 million associated with development revenue recognized during the period, along with higher operating expenses at Westfield Jeddah following its transition to the operational phase.

 

Advertising and promotional expenses also rose, along with general and administrative expenses related to Westfield Jeddah following the start of operations.

 

Net finance costs rose to SAR 572.9 million in the first nine months of 2026 from SAR 489.1 million a year earlier, reflecting the company's ongoing investment phase and funding requirements for its portfolio of development projects.

 

On the other hand, revenue grew 1.9% to SAR 1.76 billion in the nine months ended Sept. 30, 2026, from SAR 1.72 billion in the year-earlier period.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q3 2025 Q3 2026 Change‬
Revenues 551.30 606.20 10.0 %
Gross Income 451.80 460.20 1.9 %
Operating Income 693.60 563.70 (18.7 %)
Net Income 500.65 404.90 (19.1 %)
Average Shares 517.66 517.66 -
Earnings Per Share before unusual items (Riyal) 0.15 0.37 146.4 %
EPS (Riyal) 0.97 0.78 (19.1 %)

In Q3 2026, Cenomi Centers posted a 19.1% decline in net earnings to SAR 404.9 million from SAR 500.6 million in the prior-year period. Cost of revenue rose to SAR 145.9 million in Q3 2026 from SAR 99.4 million a year earlier. This was mainly driven by development costs of SAR 32.7 million associated with development revenue recognized during the quarter, along with higher operating expenses at Westfield Jeddah following its transition to the operational phase.

 

Net profit in Q3 2025 benefited from the full and final settlement of an insurance claim related to a fire at one of the company's assets.

 

Compared to Q2 2026, net earnings grew by 5% from SAR 385.7 million.

 

Shareholders’ equity, after minority interest, reached SAR 16.50 billion as of Sept. 30, 2026, compared to SAR 15.43 billion a year earlier.

View More Financial Results

 

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Share Price

Arabian Centres Co.
12.52
0.04 0.32 %

Arabian Centres Co. (CENOMI CENTERS)

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Financial Ratios
Current
Market Cap (M Riyal) 6,481.10
Enterprise Value (EV) (M Riyal) 21,460.10
Shares Outstanding ((M)) 517.66
Recurring EPS ( Riyal) (TTM) 1.00
Book Value (BV) ( Riyal) 31.88
Par Value ( Riyal) 10.00
Recurring P/E (TTM) 12.50
P/E (TTM) 6.06
Price/book 0.39
Dividend Yield (%) (Last Year) 2.75
Return on Average Assets (%) (TTM) 3.1
Return on Average Equity (%) (TTM) 6.7
EV/Revenues 9.24
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