Riyadh — Mubasher: Morabaha Marina Financing reported a net loss of SAR 52.69 million in the first nine months of 2026, shifting from a net profit of SAR 1.24 million in 9M-25, according to a bourse filing.
The company’s revenue fell by 26.96% to SAR 118.12 million in 9M-26 from SAR 161.72 million a year earlier.
The financial results show an operating loss of SAR 54.27 million, a significant increase from the SAR 2.18 million loss recorded in the prior-year period.
Morabaha Marina Financing attributed the downturn to a decrease in financing volumes granted to customers and the suspension of revenue recognition for non-performing loans.
Additionally, the company recorded higher impairment losses on its financing portfolio.
Total shareholders' equity (excluding non-controlling interests) stood at SAR 776.66 million, while the loss per share reached SAR 0.75.
As of 30 September 2026, the company’s accumulated losses hit SAR 13.38 million, representing 1.87% of its SAR 714.29 million capital.
To address geopolitical uncertainties, the firm recorded an additional expected credit loss provision of SAR 391,577 during the period.
Total assets were reported at SAR 1.24 billion against total liabilities of SAR 458.23 million.
