SENAAT Q1 2026 profit rises 31% to SAR 31M

Advanced Building Industries Co. (SENAAT) posted a net profit of SAR 31 million for the first quarter of 2026, a rise of 31% from SAR 23.7 million in the same period last year.

The company attributed the higher profits to a 2.2% year-on-year (YoY) rise in gross profit, supported by the performance of the steel and insulation segments.

Operating income also increased in both segments, while the company’s share of profits from associates and joint ventures (JVs) rose by SAR 3.1 million. In addition, financing expenses declined by SAR 4.5 million.

This came despite an 11.3% YoY decline in consolidated sales during the first quarter, driven by lower revenue from the construction segment by 63.4% and the air conditioning segment by 6.3%.

Sequentially, earnings increased by 30% from SAR 23.81 million in Q4 2025.

The quarterly improvement was a result of a 2.43% quarter-on-quarter (QoQ) rise in gross profit margin as a percentage of sales despite lower revenue. However, operating income also improved following a decline in general and administrative (G&A) expenses, as well as selling and distribution expenses.

Financing expenses further decreased by SAR 9.9 million. This was despite an 18% decline in consolidated sales during the quarter due to lower revenue from the construction segment by 46%, air conditioning by 31%, steel by 5%, and insulation by 3%.

Shareholders’ equity, after minority interest, stood at SAR 564.6 million at the end of March 2026, up from SAR 474.58 million a year earlier.

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