Riyadh – Mubasher: Atlas Elevators General Trading and Contracting Company reported a net profit of SAR 3.32 million in the first half (H1) of 2026, reflecting a 22.82% decrease from the SAR 4.31 million recorded during the same period of 2025.
Earnings per share (EPS) for the period fell to SAR 0.38 from SAR 0.49 in H1-25, according to a bourse filing.
Total revenues reached SAR 36.21 million in January-June 2026, signaling a 10.46% decline compared to SAR 40.44 million a year earlier.
Atlas Elevators attributed the drop in revenue to a 12% decrease in core installation and manufacturing revenues, which fell to SAR 31.80 million. This was driven by a reduction in completed installation contracts, which totaled 472 compared to 535 in the prior-year period.
Profitability was further pressured by a 24.83% increase in general and administrative expenses, which rose to SAR 11.59 million.
The company noted that operational efficiency was impacted by regional geopolitical conditions affecting foreign goods delivery, as well as reduced working hours during the month of Ramadan and seasonal holiday periods.
Atlas Elevators further added that the total shareholders' equity stood at SAR 97.14 million as of 30 June 2026.
