Morabaha Marina Posts SAR 3.51M Net Loss in Q1 2026
Morabaha Marina Financing Co. (4082) reported a net loss of SAR 3.51 million for the first quarter of 2026, versus a net profit of SAR 4.22 million in the same period last year. Revenue declined 11.57% YoY to SAR 46.69 million, driven by lower financing volumes and suspended revenue recognition on non-performing loans.
Key Numbers
Morabaha Marina Financing Co. (4082) announced its interim financial results for the three months ended March 31, 2026, posting a net loss of SAR 3.51 million, compared to a net profit of SAR 4.22 million in the year-ago period. Revenue decreased 11.57% YoY to SAR 46.69 million.
Key Financial Results
| Item | Current Quarter | Comparable Quarter 2025 | Change | Previous Quarter | QoQ Change |
|---|---|---|---|---|---|
| Revenue | SAR 46.69M | SAR 52.80M | -11.57% | SAR 54.39M | -14.16% |
| Net Profit (Loss) | (SAR 3.51M) | SAR 4.22M | -183% | (SAR 0.23M) | -1415.89% |
| EPS (SAR) | (0.05) | 0.06 | - | (0.003) | - |
Key Highlights from the Statement
The company attributed the revenue decline to lower financing amounts granted to customers and suspension of revenue recognition on non-performing loans. The swing to a net loss was driven by reduced revenues and higher impairment losses on the financing portfolio, partially offset by lower losses from subsidiary Loop.
On a sequential basis, revenue fell 14.16% QoQ, and the net loss widened by 1,415.89%.
Guidance
No specific forward guidance was provided in the earnings release.
Impact on the Stock
The loss announcement is likely to weigh on the stock price (4082) in the near term, given the sharp deterioration from profit to loss and negative EPS.
What This Means for Investors
The results highlight operational challenges, particularly declining financing volumes and rising credit provisions. Investors should monitor asset quality trends and the company's strategy to improve performance.
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