Saudi Arabia’s Advanced Building Industries Co. (SENAAT) reported a 45.7pct YoY increase in net profit to SAR 54.2 mln (USD 14.4 mln) in the first half of 2026.
Revenue declined 7.1pct YoY to SAR 2.77 bln (USD 737.6 mln), mainly due to lower sales in the construction sector. This was partly offset by higher revenue from the air conditioning, steel and insulation sectors.
Gross profit increased 6pct YoY to SAR 544.2 mln (USD 145.1 mln), while operating profit rose 22.7pct to SAR 156.7 mln (USD 41.8 mln). The company attributed the improvement mainly to higher gross profit and operating income in its steel and insulation businesses, lower expected credit loss provisions, higher income from associates and joint ventures, and increased other income.
In Q2, revenue increased 5.3pct QoQ to SAR 1.42 bln (USD 378.3 mln), while net profit rose to SAR 44.4 mln (USD 11.8 mln) from SAR 9.8 mln in Q1. The company said higher sales and improved gross profit across its air conditioning, steel and insulation businesses supported the quarterly improvement.
SENAAT, formerly Zamil Industrial Investment Company, operates across the steel, air-conditioning, insulation and construction sectors, with more than 20 manufacturing facilities in four countries.
1 USD / 3.75 SAR