Riyadh – Mubasher: The Saudi Industrial Development Company (SIDC) incurred a net loss of SAR 6.66 million in the third quarter (Q3) of 2026, an annual drop of 17.27% from SAR 8.05 million.
SIDC attributed the narrower loss to lower financing costs following the repayment of certain loans and credit facilities.
Quarterly revenue fell to SAR 19.03 million, a 20.87% decrease from SAR 24.05 million in the prior-year quarter, driven by lower sales in the mattress and sponge segment.
Gross profit for the period dropped by 57% to SAR 1.66 million.
In the first nine months (9M) of 2026, the net loss widened to SAR 31.35 million from SAR 25.79 million a year earlier.
Total revenue for the nine months reached SAR 61.93 million, down 18.81% from SAR 76.28 million. SIDC cited higher asset impairment charges and lower sales in the sanitary ware and mattress segments as primary factors for the performance.
The independent auditor’s report included a material uncertainty related to going concern, noting a net loss of SAR 30.40 million and negative operating cash flows during the nine-month period.
Accumulated losses reached SAR 5.81 million, representing 1.94% of capital. Total shareholders' equity stood at SAR 109.12 million.
In the first half (H1) of 2026, SIDC reported 39.18% year-on-year (YoY) higher net losses at SAR 24.69 million.
