Riyadh – Mubasher: Sustainable Infrastructure Holding Company (SISCO Holding) turned to net losses valued at SAR 10.60 million in the first half (H1) of 2024, against profits worth SAR 40.70 million in H1-23.

The revenues amounted to SAR 605.40 million in H1-24, an annual plunge of 21.46% from SAR 770.90 million, according to the financial results.

Loss per share reached SAR 1.30 in January-June 2024, versus earnings per share (EPS) of SAR 0.50 a year earlier.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits hit SAR 10.50 million, an annual drop of 50.47% from SAR 21.20 million.

The revenues inched up by 0.74% to SAR 338.50 million in Q2-24 from SAR 336 million a year earlier.

Quarterly, the company turned profitable in Q2-24 when compared with net losses valued at SAR 21.20 million in Q1-24, while the revenues hiked by 26.82% from SAR 266.90 million.

In July, SISCO Holding’s subsidiary Tawzea inked a SAR 316.21 million contract with Neom to develop the Al-Badaa water recycling plant.