Al Hassan Ghazi Ibrahim Shaker Co. announces its Interim Financial results for the Period Ending on 2026-06-30 ( Six Months )

Shaker reported a 37.2% year-on-year decline in net profit for H1 2026 to SAR 29.6 million, while revenue decreased 3.4% to SAR 743.1 million. The contraction was sharper in Q2 2026, where net profit fell 73.3% to SAR 5.3 million, impacted by lower contributions from the HVAC projects business and elevated logistics and component costs.
Segment performance was bifurcated, with HVAC Solutions revenue declining 9.2% to SAR 484.8 million due to the timing and selective phasing of projects, while the Home Appliances segment grew 8.8% to SAR 251.5 million behind strong momentum in retail, e-commerce, and shop-in-shop channels.
Operating cash flow improved significantly, rising more than ninefold to SAR 122.2 million in H1 2026 compared to SAR 13.1 million in H1 2025. This surge was driven by a disciplined focus on working capital, including a 26.9% year-on-year reduction in inventory levels and a shift toward higher-quality customer receivables with better collection visibility.
Management has refined the execution roadmap of its "Elevate 2027" strategy, adopting a more measured approach to retail expansion and the launch of own-brand appliances to prioritize capital efficiency

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	340,965	368,772	-7.54	402,167	-15.218
Gross Profit (Loss)	79,800	92,620	-13.841	95,348	-16.306
Operational Profit (Loss)	9,242	19,688	-53.057	22,363	-58.672
Net Profit (Loss) Attributable to Shareholders of the Issuer	5,315	19,895	-73.284	24,280	-78.109
Total Comprehensive Income Attributable to Shareholders of the Issuer	6,198	19,695	-68.53	22,722	-72.722
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	743,132	769,188	-3.387
Gross Profit (Loss)	175,148	193,253	-9.368
Operational Profit (Loss)	31,605	44,764	-29.396
Net Profit (Loss) Attributable to Shareholders of the Issuer	29,595	47,100	-37.165
Total Comprehensive Income Attributable to Shareholders of the Issuer	28,920	47,418	-39.01
Total Shareholders Equity (after Deducting Minority Equity)	882,770	817,837	7.939
Profit (Loss) per Share	0.44	0.71
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Thousands) 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	Al Hassan Ghazi Ibrahim Shaker Co. ("Shaker" or the "Company") recorded revenue of SAR 340.97 million in Q2 2026, a 7.5% decrease compared to Q2 2025. The decline was mainly attributable to lower HVAC Solutions revenue, reflecting the timing and phasing of project activity during the quarter. This was partially offset by continued growth in the Home Appliances segment, supported by stronger performance across both retail and wholesale channels.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Shaker reported net profit attributable to shareholders of SAR 5.32 million in Q2 2026 compared to SAR 19.90 million in Q2 2025. Gross Profit Gross profit decreased by 13.8% to SAR 79.80 million, reflecting lower contribution from the HVAC projects business and changes in revenue mix. Operating Profit Operating profit declined by 53.1%, as lower gross profit and reduced contribution from the projects business were partially offset by ongoing cost optimization initiatives and disciplined expense management. Net Profit Net profit was also impacted by a lower share of profit from associates and marginally higher finance costs during the quarter.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	Revenue decreased by 15.2% compared to Q1 2026, primarily reflecting the phasing of business activity between quarters together with lower contribution from the HVAC Solutions segment. Home Appliances continued to perform well during the quarter, supported by growth across both retail and wholesale channels.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	Net profit attributable to shareholders decreased by 78.1% compared to Q1 2026. Gross Profit Gross profit declined by 16.3%, broadly in line with lower revenue. Operating Profit Operating profit decreased due to lower gross profit, partially offset by continued cost optimization and disciplined management of operating expenses. Net Profit The decline in net profit also reflected a lower contribution from associates during the quarter.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	Revenue for H1 2026 amounted to SAR 743.13 million, a 3.4% decrease compared to H1 2025. Growth in the Home Appliances segment, supported by continued momentum across retail, wholesale, e-commerce and shop-in-shop channels, which was offset by lower HVAC Solutions revenue as project activity was phased more selectively during the period.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Shaker reported net profit attributable to shareholders of SAR 29.60 million in H1 2026 compared to SAR 47.10 million in H1 2025. Gross Profit Gross profit declined by 9.4%, reflecting the lower contribution from the HVAC projects business during the period. Operating Profit Operating profit decreased by 29.4%, primarily due to lower gross profit, despite continued progress in cost optimization, procurement discipline and efficient resource allocation. Net Profit Net profit was affected by lower operating profitability together with a lower share of profit from associates, partially offset by the Group's continued focus on disciplined cost management.
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)	None
Reclassification of Comparison Items	The comparative figures for the earnings per share of the Condensed Consolidated Interim Financial Statements have been adjusted to meet the current year classification according to the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia.
Additional Information	Net cash inflow generated from operating activities reached SAR 122.2 million during H1 2026, compared to a net cash inflow of SAR 13.1 million in H1 2025. Inventory declined by 26.9% YoY to SAR 313.0 million as of 30 June 2026, reflecting the Company's continued focus on working capital optimization, disciplined procurement and strengthening balance sheet efficiency.
Attached Documents	Attached Documents