Saudi Cable profit down 60% to SAR 26.1M in H1 2026; Q2 at SAR 2.5M

03/08/2026 Argaam Exclusive

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Saudi Cable Co. reported a net profit of SAR 26.1 million in H1 2026, down from SAR 64.9 million in H1 2025.



Financials (Million Riyal)

Item 6m 2025 6m 2026 Change‬
Revenues 74.30 48.31 (35.0 %)
Gross Income (18.88) (17.90) 5.2 %
Operating Income (55.39) (62.90) (13.6 %)
Net Income 64.89 26.09 (59.8 %)
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyals) 9.72 3.91 (59.8 %)
EPS (Riyal) 9.72 3.91 (59.8 %)

Revenue declined by 35% year-on-year (YoY) due to a mix of financial and liquidity issues. An estimated 60-70% of the decrease was driven by persistent liquidity constraints and reduced customer advance payments that severely restricted working capital.

 

The company also reported an increase in overall costs. Additionally, general and administrative expenses increased during the quarter, further the share of profit in an associate firm decreased by 19% contributing to the reduction in profitability.

 

Further, ongoing regional geopolitical conditions added logistics and transportation friction that further burdened unabsorbed factory overheads.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q2 2025 Q2 2026 Change‬
Revenues 30.19 26.04 (13.8 %)
Gross Income (14.63) (9.65) 34.0 %
Operating Income (41.55) (33.84) 18.5 %
Net Income 18.23 2.47 (86.4 %)
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyal) 2.73 0.37 (86.4 %)
EPS (Riyal) 2.73 0.37 (86.4 %)

Saudi Cable’s Q2 2026 net profit reached SAR 2.5 million, plunging 86% from SAR 18.23 million in the prior-year period, on a 14% decline in revenue.

 

On a sequential basis, net earnings slumped 89.5% from SAR 23.61 million in Q1 2026.

 

Total shareholders’ equity, no minority interest, stood at SAR -159.22 million by June 30, 2026, compared to SAR -360.16 a year earlier.

 

Accumulated losses stood at SAR 248.74 million by June 30, 2026, representing 373% of capital.

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Share Price

Saudi Cable Co.
165.20
(0.40) (0.24 %)

Saudi Cable Co. (SAUDI CABLE)

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Financial Ratios
Current
Market Cap (M Riyal) 1,102.22
Enterprise Value (EV) (M Riyal) 1,184.83
Shares Outstanding ((M)) 6.67
Recurring EPS ( Riyal) (TTM) 15.58
Book Value (BV) ( Riyal) (23.86)
Par Value ( Riyal) 10.00
Recurring P/E (TTM) 10.60
P/E (TTM) 6.76
Price/book (6.92)
Dividend Yield (%) (Last Year) -
Return on Average Assets (%) (TTM) 19.7
Return on Average Equity (%) (TTM) (62.81 )
EV/Revenues 9.12
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