Jabal Omar Development Co. announces its Interim Financial results for the Period Ending on 2026-06-30 ( Six Months )

Jabal Omar Development Company (JODC) reported a net profit of SAR 275 million for the first half of 2026, a 70% decrease compared to SAR 904 million in 1H 2025. The decline is attributed to significant non-recurring gains in the prior year, specifically a SAR 918 million gain from land sales and a SAR 23 million fair value gain from a debt-to-equity swap.
Total revenue increased 16% year-over-year to SAR 1,454 million, driven by a 17% growth in the hotel segment (SAR 1,339 million) and a 6% rise in commercial center income. Performance was bolstered by strong domestic demand during the Hajj season, the opening of the Rotana Hotel, and a 7% improvement in Revenue Per Available Room (RevPAR) to SAR 948.
Adjusted EBITDA rose 15% year-over-year to SAR 793 million, maintaining a healthy margin of 55%, while Adjusted Funds from Operations (AFFO) increased 25% to SAR 561 million. These improvements reflect core business resilience and lower finance costs, which fell 31% to SAR 219 million due to debt repayments and lower borrowing costs.
The company maintained a stable net debt position of SAR 7,975 million and successfully refinanced a SAR 2 billion loan to enhance liquidity. Ma

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	715.15	501.7	42.545	739.17	-3.249
Gross Profit (Loss)	288.8	192.82	49.776	317.72	-9.102
Operational Profit (Loss)	236.69	54.02	338.152	244.18	-3.067
Net Profit (Loss) Attributable to Shareholders of the Issuer	158.13	-42.06	-	116.99	35.165
Total Comprehensive Income Attributable to Shareholders of the Issuer	158.13	-42.06	-	116.99	35.165
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	1,454.32	1,249.44	16.397
Gross Profit (Loss)	606.52	524.68	15.598
Operational Profit (Loss)	480.87	1,126.41	-57.309
Net Profit (Loss) Attributable to Shareholders of the Issuer	275.12	903.88	-69.562
Total Comprehensive Income Attributable to Shareholders of the Issuer	275.12	903.88	-69.562
Total Shareholders Equity (after Deducting Minority Equity)	16,137.52	14,373.67	12.271
Profit (Loss) per Share	0.23	0.77
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 reason of the increase in revenues by 43% during the current quarter compared to the same quarter of the last year is primarily due to the continued improvement in hotels performance particularly during Hajj season, in addition to the opening of Rotana Hotel at the beginning of the current year.
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 reason of the increase in the net profit by 476% during the current quarter compared to the same quarter of the last year is mainly attributable to the following : - Increase in gross profit by SAR 96 million, mainly due to the increase in hotels revenues. - Decrease in impairment provision amounting to SAR 120 million - Decrease in finance cost by SAR 67 million driven by lower average financing cost and debt balances, along with the impact of one-time accounting adjustment related to refinancing of a loan facility. Noting that zakat provision has increased by SAR 90 million during the current quarter as compared to the same quarter of the last year which included one off gain on settlement of prior year zakat liabilities.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The reason of the decrease in revenues by 3% during the current quarter compared to the previous quarter is primarily due to Ramadan season falling in the previous quarter, in addition to adjustments related to revenue previously recognized in the commercial centers.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The reason of the increase in the net profit by 35% during the current quarter compared to the previous quarter is due to a decrease in the impairment provision, as well as a decrease in financing costs as a result of a one-time accounting adjustment related to the refinancing of a loan facility.
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 reason of the increase in revenues by 16% during the current period compared to the same period of the last year is mainly due to the continued improvement in hotels performance, particularly during Hajj season, in addition to the opening of Rotana Hotel at the beginning of this year.
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 reason of the decrease in the net profit by 70% during the current period compared to the same period of the last year is primarily due to the recognition of exceptional gains during the same period of the last year, resulting from the sale of land, in addition to a reversal of zakat provision. Net profit also decreased due to an increase in property depreciation expense of SAR 35 million (a non-cash item), resulting from the commencement of operations at Rotana Hotel during the current period. This decrease was partially offset by the following factors: - Increase in gross profit of SAR 82 million, resulting from higher hotel revenues. - Decrease in the impairment provision of SAR 206 million. - Decrease in finance cost by SAR 98 million driven by lower average financing cost and debt balances along with the impact of one-time accounting adjustment related to refinancing of a loan facility.
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	Certain comparative amounts have been reclassified or re-presented during the current year for better presentation.
Additional Information	Attached
Attached Documents	Attached Documents