CGS profit down 36% to SAR 18.9M in H1 2025/2026, Q2 at SAR 9.7M

Consolidated Grünenfelder Saady Holding Co. (CGS) reported a net profit of SAR 18.9 million for H1 2025-2026, which ended Sept. 30, 2025, a decrease of 36%, compared to SAR 29.3 million during the same period a year earlier.

The decline was driven by a 13% drop in revenue due to lower sales in the refrigerated transport and after-sales services segments, despite higher sales in the customized solutions segment.

Operating profit margin fell to 11% from 15%, pressured by a 14% increase in general and administrative expenses and the recognition of an expected credit loss provision, compared with a reversal in the year-earlier period. This came despite a stable gross profit margin of 24%.

EBITDA decreased 29% to about SAR 24.8 million from SAR 35.2 million a year earlier, weighed further by higher finance costs and lower other income. The drop in profit was partially offset by lower zakat and tax expenses.

Total revenues for the period slipped 13% to nearly SAR 187.4 million from SAR 216.5 million, reflecting mixed performance across segments.

The automotive solutions segment’s revenues fell to around SAR 104.1 million from SAR 123.9 million, representing 56% of total revenue, due to weaker local demand.

Contract activity revenues declined to about SAR 46.2 million from SAR 51.8 million, contributing 25% of total revenue.

Service activities revenue edged down to SAR 19.9 million from SAR 24.3 million, accounting for nearly 11% of the total.

Customized solutions revenue rose slightly to SAR 17.2 million from SAR 16.6 million, representing about 9% of total revenue.

In Q2 2025/26, CGS earnings fell 32% to SAR 9.7 million from SAR 14.23 million a year earlier. Quarter-on-quarter, profit rose 4.7% from SAR 9.23 million in Q1.

Total shareholders’ equity, excluding minority interests, reached SAR 171.6 million as of Sept. 30, 2025, up from SAR 148.8 million a year earlier.