Morabaha Marina Financing Co. announces its Interim Financial results for the Period Ending on 2026-03-31 ( Three Months )

Morabaha Marina reported a net loss of SAR 3.51 million for the quarter ending March 31, 2026, a sharp decline from the SAR 4.22 million profit recorded in the same period last year. This reversal into a loss was primarily driven by lower overall revenues and an increase in impairment losses for the company's financing portfolio.
Revenue for the period decreased by 11.57% year-on-year to SAR 46.69 million, down from SAR 52.80 million in the previous year. Management attributed the drop to a reduction in the volume of financing granted to customers and the suspension of revenue recognition on non-performing loans.
On a sequential basis, the net loss widened by 1,415.89% from the previous quarter's SAR 0.23 million loss, as revenues fell 14.16% quarter-on-quarter. While the company benefited from a decrease in losses from its subsidiary, Loop, this was insufficient to offset the core revenue contraction and credit impairment charges.
Total shareholders' equity reached SAR 825.84 million, a 2.46% decrease from SAR 846.65 million a year ago. The financial statements included restatements to comply with IFRS 9 and IAS 8, specifically reclassifying transaction cost amortizations

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	46,692,435	52,802,315	-11.571	54,392,555	-14.156
Gross Profit (Loss)	35,561,307	39,684,748	-10.39	41,490,537	-14.29
Operational Profit (Loss)	-3,169,971	3,297,501	-	-1,418,015	123.549
Net Profit (Loss) Attributable to Shareholders of the Issuer	-3,509,973	4,219,766	-	-231,546	1,415.885
Total Comprehensive Income Attributable to Shareholders of the Issuer	-3,509,973	4,219,766	-	-2,603,509	34.817
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Shareholders Equity (after Deducting Minority Equity)	825,838,533	846,653,861	-2.458
Profit (Loss) per Share	-0.05	0.06
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	Revenue decreased by 11.57%, to reach SAR46,69 million during the current quarter compared to SAR52,8 million in the corresponding period of the previous year, mainly due to the decrease in financing amounts granted to customers, in addition to suspension of revenue recognition on non-performing loans.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The decrease in net profit by 183.18%, to a net loss of SAR3.5 million during current quarter compared to SAR4.2 million in the corresponding period in prior year, is due to the decrease in revenues, and an increase in impairment losses for the financing portfolio, partially offset by a decrease in losses from the subsidiary (Loop).
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	Revenue decreased by 14.16%, to reach SAR46,69 million during the current quarter compared to SAR54,3 million in the previous period, primarily due to the decrease in financing amounts granted to customers in addition to suspension of revenue recognition on non-performing loans.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The decrease in net profit by 1,415.89%, to a net loss of SAR3.5 million compared to SAR0.2 million in the previous period, is due to the decrease in revenues, partially offset by a decrease in losses from the subsidiary (Loop).
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	N/A
Reclassification of Comparison Items	In accordance with IAS 8, management has restated the comparative figures to adjust prior year consolidated financial statements: 1- Reclassification of transaction cost amortization from special commission expenses to special commission income, aligning with IFRS 9 effective interest method requirements. 2- Reclassification of repossessed assets held for sale back to Islamic financing receivables, as the Group had not completed the foreclosure process nor obtained control over the underlying collateral. These restatements enhance the accuracy and compliance of the Group's financial reporting with applicable IFRS standards.
Additional Information	In accordance with IAS 8, management has restated the comparative figures to adjust prior year consolidated financial statements: 1- Separate disclosure of special commission income received, in accordance with IAS 7 “Statement of Cash Flows”, as this was not previously disclosed separately and the related movement was included within the movement of Islamic financing receivables These restatements enhance the accuracy and compliance of the Group's financial reporting with applicable IFRS standards.