Saudi Cable Company (2110) Q2 2026 earnings summary

Executive summary

• Net income for the six months ended June 30, 2026, was SAR 26 million, down from SAR 64 million year-over-year.

• Accumulated losses reached SAR 248.7 million, representing 372.8% of share capital as of June 30, 2026.

• Current liabilities exceeded current assets by SAR 669.5 million, indicating significant liquidity pressure.

• Management forecasts net profit and positive cash flow for 2026, contingent on cash injections and revenue growth.

Financial highlights

• Revenue for the six months was SAR 48.3 million, a decrease from SAR 74.3 million year-over-year.

• Gross loss for the period was SAR 17.9 million, compared to SAR 18.9 million in the prior year.

• Operating loss for the six months was SAR 62.9 million, up from SAR 55.4 million year-over-year.

• Profit before zakat and income tax was SAR 26.9 million, down from SAR 67.2 million year-over-year.

• Net cash used in operating activities was SAR 102.8 million, compared to SAR 77.2 million in the prior year.

Outlook and guidance

• Management's going concern assessment relies on planned rights issue, revenue growth from future orders, and approval of a financial restructuring procedure.

• Forecasts for 2026 anticipate net profit and positive cash flow, but these depend on uncertain future events.