Alandalus Property Co. announces its interim condensed consolidated financial results for the period ended 30 June 2026 (Six Months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	69.92	53.94	29.625	70.86	-1.326
Gross Profit (Loss)	46.35	31.39	47.658	47.04	-1.466
Operational Profit (Loss)	30.94	8.27	274.123	23.69	30.603
Net Profit (Loss) Attributable to Shareholders of the Issuer	10.54	-10.14	-	1.77	495.48
Total Comprehensive Income Attributable to Shareholders of the Issuer	10.54	-10.14	-	1.77	495.48
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	140.79	110.35	27.584
Gross Profit (Loss)	93.39	65.33	42.951
Operational Profit (Loss)	54.64	22.44	143.493
Net Profit (Loss) Attributable to Shareholders of the Issuer	12.31	-10.97	-
Total Comprehensive Income Attributable to Shareholders of the Issuer	12.31	-10.97	-
Total Shareholders Equity (after Deducting Minority Equity)	963.63	982.32	-1.902
Profit (Loss) per Share	0.13	-0.12
All figures are in (Millions) 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 (Millions) 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	The Company’s consolidated revenue for the second quarter of 2026 amounted to approximately SAR 69.92 million, representing an increase of 29.63% compared with SAR 53.94 million in the same quarter of the previous year. The increase was mainly driven by revenue growth across all operating segments. Retail and operations revenue increased by approximately 24%, supported by improved operating performance and higher occupancy at Alandalus Mall. Office segment revenue increased by approximately 37%, driven by higher revenue from QBIC Plaza and improved occupancy at Salama Tower. Hospitality revenue also increased by approximately 63% following the completion of renovation and enhancement works and higher occupancy at the DoubleTree by Hilton Alandalus Mall Hotel.
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 Company recorded net profit attributable to the shareholders of the Company of SAR 10.54 million in the second quarter of 2026, compared with a net loss of SAR 10.14 million in the same quarter of the previous year. The significant improvement was mainly attributable to a 274% increase in operating profit, supported by higher revenue and gross profit, as well as improved results from equity-accounted investees, particularly West Jeddah Hospital Company, following improved operating performance at Dr. Sulaiman Al Habib Hospital (Al Fayha). Finance costs also decreased. This improvement was achieved despite increases in general and administrative expenses, marketing expenses, and the expected credit loss allowance.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The Group’s revenue for the second quarter of 2026 amounted to approximately SAR 69.92 million, representing a slight decrease of 1.33% compared with SAR 70.86 million in the previous quarter. This was mainly attributable to an approximately 19% decrease in hospitality revenue and a slight decrease of approximately 1% in retail and operations revenue, partially offset by an approximately 5% increase in office segment revenue.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The Company recorded net profit attributable to the shareholders of the Company of SAR 10.54 million in the second quarter of 2026, compared with SAR 1.77 million in the previous quarter, representing an increase of 496.26%. The increase was mainly attributable to a 30.6% rise in operating profit, driven by an improvement in the Group’s share of results from equity-accounted investees, which moved from a loss of SAR 4.93 million in the previous quarter to a profit of SAR 5.92 million in the current quarter, in addition to lower finance costs. This was achieved despite the slight decrease in revenue and gross profit.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	The Company’s consolidated revenue for the first half of 2026 amounted to approximately SAR 140.79 million, representing an increase of 27.59% compared with SAR 110.35 million in the same period of the previous year. The increase was mainly driven by revenue growth across all operating segments. Retail and operations revenue increased by approximately 23%, supported by improved operating performance and higher occupancy at Alandalus Mall. Office segment revenue increased by approximately 35%, driven by the revised lease agreement for QBIC Plaza and improved occupancy at Salama Tower. Hospitality revenue also increased by approximately 47% following the completion of renovation and enhancement works and improved occupancy at the DoubleTree by Hilton Alandalus Mall Hotel.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The Company recorded net profit attributable to the shareholders of the Company of SAR 12.31 million for the first half of 2026, compared with a net loss of SAR 10.97 million in the same period of the previous year. The improvement was mainly attributable to a 143.47% increase in operating profit, supported by higher revenue and gross profit, improved results from equity-accounted investees, and lower finance costs. This was achieved despite increases in general and administrative expenses, marketing expenses, and the expected credit loss allowance, as well as the absence of the gain on disposal of a subsidiary that was recognized in the corresponding period of 2025.
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)	Non
Reclassification of Comparison Items	Certain comparative figures have been reclassified to conform to the presentation of the current period.
Additional Information	On 5 July 2026, one of the Company’s subsidiaries acquired a parcel of land designated for educational use in Riyadh for a consideration of SAR 23.65 million. The project was financed through a long-term Tawarruq financing facility from a local bank with a facility limit of SAR 48 million. For further details, please refer to Note 17 to the financial statements. The interim condensed consolidated financial statements for the period ended 30 June 2026 will be available on the Company’s website after submission to the relevant authorities. The investor presentation for the current period will also be available through Al-Andalus Property Company’s Investor Relations application and on the Company’s website under the Investor Relations section. http://www.alandalus.com.sa
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