Riyadh — Mubasher: Tourism Enterprise Company (Shams) reported net losses of SAR 10.14 million in the first nine months (9M) of 2026, up 197.71% from SAR 3.41 million in 9M-25.
Shams attributed the deepening loss to a decline in the fair value of financial assets and lower Murabaha returns on deposits.
Revenues climbed by 5.66% to SAR 6.83 million from SAR 6.46 million in the prior year, supported by enhanced marketing activities and service operations. However, the loss per share widened to SAR 0.17 from SAR 0.05.
In the third quarter (Q3) of 2026, the company posted a net loss of SAR 3.60 million, an increase of 889.97% from SAR 363,830 in Q3-25.
Quarterly revenues hit SAR 2.78 million, a 75.83% increase year-on-year (YoY), driven by intensified sales efforts and new marketing channels.
Accumulated losses reached SAR 90.36 million as of 30 September 2026, accounting for 15.63% of the capital.
Total shareholders' equity, excluding non-controlling interests, stood at SAR 475.08 million, down 5.03% from SAR 500.26 million a year earlier.
Shams incurred net losses of SAR 6.54 million for the first half (H1) of 2026, an annual leap of 114.89% from SAR 3.04 million.
