Tadawul-
Element List Current Quarter Similar Quarter For Previous Year %Change Previous Quarter % Change
Sales/Revenue - - - - -
Gross Profit (Loss) - - - - -
Operational Profit (Loss) -1,027.98 -2,009.648 -48.847 -847.296 21.324
Net Profit (Loss) Attributable to Shareholders of the Issuer -1,686.941 -3,475.406 -51.46 -427.742 294.382
Total Comprehensive Income Attributable to Shareholders of the Issuer -1,686.941 -3,475.406 -51.46 -427.742 294.382
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Current Period Similar Period For Previous Year %Change
Sales/Revenue - - -
Gross Profit (Loss) - - -
Operational Profit (Loss) -3,072.939 -8,842.614 -65.248
Net Profit (Loss) Attributable to Shareholders of the Issuer -3,575.921 -9,558.909 -62.59
Total Comprehensive Income Attributable to Shareholders of the Issuer -3,575.921 -9,558.909 -62.59
Total Shareholders Equity (after Deducting Minority Equity) 96,477.14 115,387.057 -16.388
Profit (Loss) per Share -0.02 -0.05
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Amount Percentage Of The Capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
Accumulated Losses -98,523.832 50.68
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The absence of revenue during the current quarter and the same quarter of the prior year is attributable to the suspension of the Company's business and operating activities effective from the fourth quarter of 2024, and to the difficulty of resuming operations under the current geopolitical conditions, given the significant increase and volatility in commodity prices and the rise in transportation costs, which heighten the risks of resuming activity. Accordingly, the Company has elected to defer the resumption of its operating activities until prices stabilise and their trends become clearer, in order to safeguard the funds of the Company and its shareholders.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net loss decreased by 51.5%, due to: a decrease in general and administrative expenses; a decrease in realised and unrealised losses on the measurement of investments at fair value during the current quarter compared with the same quarter of the prior year; and gains on the sale of property and equipment. This was despite the recognition of a Zakat expense of SAR 620 thousand compared with nil in the same quarter of the prior year, and a decrease in other income and investment returns.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The absence of revenue during the current quarter and the previous quarter is attributable to the suspension of the Company's business and operating activities effective from the fourth quarter of 2024, and to the difficulty of resuming operations under the current geopolitical conditions, given the significant increase and volatility in commodity prices and the rise in transportation costs, which heighten the risks of resuming activity. Accordingly, the Company has elected to defer the resumption of its operating activities until prices stabilise and their trends become clearer, in order to safeguard the funds of the Company and its shareholders.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The increase in net loss during the current quarter compared with the previous quarter is attributable to a decrease in realised and unrealised gains on the measurement of financial investments at fair value through profit or loss (FVTPL) and a decrease in other income, coupled with the continued absence of operating revenue.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The absence of revenue during the current period and the corresponding period of the prior year is attributable to the suspension of the Company's business and operating activities effective from the fourth quarter of 2024, and to the difficulty of resuming operations under the current geopolitical conditions, given the significant increase and volatility in commodity prices and the rise in transportation costs, which heighten the risks of resuming activity. Accordingly, the Company has elected to defer the resumption of its operating activities until prices stabilise and their trends become clearer, in order to safeguard the funds of the Company and its shareholders.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is Net loss decreased by 62.6%, due to: a decrease in general and administrative expenses; the recognition of realised and unrealised gains on the measurement of investments at fair value during the current period, compared with realised and unrealised losses in the corresponding period of the prior year; and an increase in returns on bank Murabaha deposits. This was despite losses incurred on the disposal of property and equipment, a decrease in other income, and an increase in the Zakat expense to SAR 2,316 thousand, owing to a Zakat reassessment for the financial year 2024 amounting to SAR 504 thousand.
Statement of the type of external auditor's report Notice
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) We draw attention to Note (1-c) to the condensed consolidated interim financial statements, which indicates that the Group did not generate any operating revenue for the nine-month period ended 30 September 2026, and that the Group incurred a net loss of SAR 3,575,921 for the nine-month period ended 30 September 2026 (30 September 2025: SAR 9,558,909). Furthermore, accumulated losses amounted to SAR 98,523,832 as at 30 September 2026, representing 50.68% of the Group's share capital (31 December 2025: SAR 94,947,911). These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. As stated in Note (1-c), management has performed an assessment of the Group's ability to continue as a going concern and, accordingly, these condensed consolidated interim financial statements have been prepared on a going concern basis. Our conclusion is not modified in respect of this matter.
Reclassification of Comparison Items Certain comparative figures in the financial statements have been reclassified.
Additional Information Saudi Industrial Export Company announces that its accumulated losses amounted to SAR (98,523,832) as at 30 September 2026, representing (50.68%) of its share capital, as follows:
1- Date on which the losses were reached: 30 September 2026.
2- Date on which the Board of Directors was notified of the accumulated losses: 29 October 2026.
3- Amount of accumulated losses: SAR 98,523,832.
4- Percentage of accumulated losses to share capital: 50.68%.
The Company's accumulated losses as at 30 September 2026 amounted to SAR 98,524 thousand, representing 50.68% of the Company's share capital of SAR 194,400 thousand, compared with SAR 94,948 thousand, representing 48.84% of share capital, as at 31 December 2025. Accordingly, the accumulated losses have exceeded half of the Company's share capital.
This is mainly attributable to:
Losses carried forward from previous years, which amounted to 48.84% (31 December 2025), and a net loss of SAR 3,576 thousand incurred during the nine-month period ended 30 September 2026, notwithstanding a 63% decrease in the comprehensive loss for the period compared with the same period of the prior year.
The factors that caused the accumulated losses to exceed 50% were: a decrease in unrealised gains resulting from the valuation of high-risk (venture capital) funds; the valuation of the Company's portfolio of shares listed on Nomu – Parallel Market (given the difficulty of exiting these positions due to the low market liquidity of the shares); the default in collecting a number of receivables due to the Company; and a Zakat reassessment for the financial year 2024 amounting to SAR 504 thousand.
This comes amid the absence of operating revenue since the suspension of the Company's operating activities effective from the fourth quarter of 2024, and the difficulty of resuming operations under the current geopolitical conditions, given the significant increase and volatility in commodity prices and the rise in transportation costs, which heighten the risks of resuming activity. This has necessitated deferring the resumption of operating activities until prices stabilise and their trends become clearer, in order to safeguard the funds of the Company and its shareholders.
In accordance with the provisions of the Companies Law and the Procedures and Instructions Related to Listed Companies with Accumulated Losses Amounting to 20% or More of Their Share Capital issued by the Capital Market Authority, the Company will make a separate announcement in this regard, and the Board of Directors will submit its recommendation to the Extraordinary General Assembly within the statutory period to consider the continuation of the Company, together with taking the necessary measures to address the losses, or its dissolution. The Company will announce any material developments in due course.
