Riyadh – Mubasher: The net profits of Kingdom Holding Company declined by 28.04% year-on-year (YoY) to SAR 602.11 million for the first half (H1) of 2026.

The company attributed the decrease to lower dividend income and reduced gains from the sale of equity-accounted investees and investment properties, alongside higher operating costs and zakat expenses.

For the second quarter (Q2) of 2026, net profit reached SAR 333.23 million, an annual drop of 17.74%, while quarterly revenue edged up 1.34% to SAR 631.46 million.

Despite the lower bottom line, the company’s total comprehensive income for the quarter surged by 368.25% to SAR 13.33 billion, driven by a 62% increase in the value of its SpaceX stake to SAR 27.20 billion.

The firm’s net asset value reached SAR 89.50 billion, or SAR 24.17 per share, marking a 15% increase since the start of the year. Total shareholders’ equity rose by 57.99% to SAR 68.16 billion.

The board previously approved an exceptional interim dividend of SAR 0.27 per share for H1-26, totaling approximately SAR 1 billion, which was paid on 9 July. This brings total cash distributions to SAR 0.55 per share.

Talal Ibrahim Almaiman, CEO of Kingdom Holding: commented: "With our planned entry into Saudi Arabia's fast-growing sports and entertainment sector through the acquisition of a controlling stake in Al Hilal club. This together with the inherent value of our investment portfolio, offers promising prospects.”

Adel Abdulaziz Alabdulsalam, CFO of Kingdom Holding: said: “KHC enters the second half from a position of real financial strength. We reduced net debt by 8% to SAR 10.90 billion and cut finance costs 12%, extending a multi-year deleveraging trend that keeps widening our flexibility.”