Emaar EC incurs SAR 203M loss in H1 2026, SAR 22M in Q2

11/08/2026 Argaam Exclusive

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Emaar The Economic City (Emaar EC) narrowed its net losses to SAR 203 million in the first half of 2026, from SAR 216 million in H1 2025.



Financials (Million Riyal)

Item 6m 2025 6m 2026 Change‬
Revenues 322.14 284.00 (11.8 %)
Gross Income 57.73 18.00 (68.8 %)
Operating Income (76.00) (22.00) 71.1 %
Net Income (216.00) (203.00) 6.0 %
Average Shares 613.18 882.93 44.0 %
Earnings Per Share before unusual items (Riyals) (0.78) (0.23) 70.5 %
EPS (Riyal) (0.35) (0.23) 34.7 %

The company attributed the improved results to a decrease in financial charges by SAR 153 million due to the restructuring of long-term commercial debt at lower interest rates and conversion of shareholder loan into equity during 2025.

 

Moreover, the company’s share of losses from an equity-accounted investee decreased YoY, as the prior-year period included a one-off SAR 49 million adjustment for estimated losses related to a project damaged by a fire in June 2025.

 

Other operating income rose by SAR 158 million due to gain on sale of investment property.

 

In Q2 2026, Emaar EC trimmed net losses to SAR 22 million, from SAR 93 million in the prior-year period.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q2 2025 Q2 2026 Change‬
Revenues 118.41 127.00 7.3 %
Gross Income (18.89) (5.00) 73.5 %
Operating Income (124.00) 66.00 153.2 %
Net Income (93.00) (22.00) 76.3 %
Average Shares 613.18 882.93 44.0 %
Earnings Per Share before unusual items (Riyal) (0.56) (0.02) 95.5 %
EPS (Riyal) (0.15) (0.02) 83.6 %

On a sequential basis, losses also decreased from SAR 180.41 million in Q1 2026.

 

Total shareholders’ equity, no minority interest, increased to SAR 9.08 billion as of June 30, 2026, from SAR 5.04 billion a year earlier.

View More Financial Results

 

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Share Price

Emaar The Economic City
9.55
(0.07) (0.73 %)

Emaar The Economic City (EMAAR EC)

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Financial Ratios
Current
Market Cap (M Riyal) 8,431.99
Enterprise Value (EV) (M Riyal) 12,664.17
Shares Outstanding ((M)) 882.93
Recurring EPS ( Riyal) (TTM) (0.44)
Book Value (BV) ( Riyal) 10.28
Par Value ( Riyal) 10.00
Recurring P/E (TTM) Neg
P/E (TTM) NEG
Price/book 0.93
Dividend Yield (%) (Last Year) -
Return on Average Assets (%) (TTM) (0.29 )
Return on Average Equity (%) (TTM) (0.63 )
EV/Revenues 11.51
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