Financial Results : Emaar EC incurs SAR 9M loss in 2025; Q4 profit at SAR 293M

Emaar EC incurs SAR 9M loss in 2025; Q4 profit at SAR 293M

31/03/2026 Argaam Exclusive

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Emaar The Economic City (Emaar EC) narrowed its losses to SAR 9 million in 2025, from SAR 1.13 billion a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 426.00 1,138.00 167.1 %
Gross Income (119.00) 484.00 506.7 %
Operating Income (361.00) 20.00 105.5 %
Net Income (1135.00) (9.00) 99.2 %
Average Shares 523.26 613.18 17.2 %
Earnings Per Share before unusual items (Riyals) (2.37) (1.05) 55.6 %
EPS (Riyal) (2.17) (0.01) 99.3 %

The improved results are due to a 167% jump in revenue due to higher sales of residential lands. This came in addition to the recognition of more development revenue from completion percentage progress for ongoing property development projects.

 

Moreover, the company saw an increase in operating revenue, mainly driven by lease contracts signed in the Industrial Valley and increased revenues from hospitality and education segments.

 

Additionally, operational expenses fell by SAR 20 million due to lower legal and professional fees and optimized spending on sales and marketing activities. Financing costs were down by SAR 74 million due to the restructuring of long-term commercial debt at lower interest rates and the conversion of shareholder loan into equity.

 

Q4 2025 net profit skyrocketed 1527.8% to SAR 293 million compared to SAR 18 million in Q4 2025. The surge in the three-month net profit is due to recording one-off gains.

 

Subsequentially, the company turned to profitability from a net loss of SAR 134.87 million in Q3 2025.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 185.00 457.00 147.0 %
Gross Income 48.00 232.00 383.3 %
Operating Income 165.00 71.53 (56.6 %)
Net Income 18.00 293.00 1527.8 %
Average Shares 523.26 613.18 17.2 %
Earnings Per Share before unusual items (Riyal) (0.26) (0.13) 49.3 %
EPS (Riyal) 0.03 0.48 1289.1 %

Total shareholders’ equity, with no minority interest, amounted to SAR 9.35 billion as of Dec. 31, 2025, compared to SAR 5.27 billion in the same period a year earlier.

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