Maaden, Cenomi Centers, and more report 1Q earnings

More companies are out with their quarterly earnings: Maaden, Cenomi Centers, Dr. Sulaiman Al Habib, and SAL Saudi Logistics Services are all out with their 1Q earnings, giving us a peek into how they started off the year.

Maaden’s bottom line challenges market woes

Mining giant Maaden saw its net income grow 5.5% y-o-y to SAR 1.64 bn in 1Q, buoyed by higher commodity prices and lower financing costs. The figure still came slightly short of Bloomberg analysts’ estimates of SAR 1.7 bn.

Yearly rise, quarterly slump: Revenue also increased 3.2% y-o-y to SAR 8.8 bn. However, the figure dropped sharply 17% compared to 4Q 2025, with Maaden citing “current ongoing challenges impacting logistics and market flows.” The impact was offset by higher aluminum and gold prices, the company’s disclosure said.

Cenomi Centers

Cenomi Centers reported a 6.6% y-o-y decline in net income to SAR 202.5 mn in 1Q 2026. The performance was attributed to higher net finance costs alongside an increase in cost of revenue, despite being offset by higher operating income and a 28% rise in media sales. Revenue also declined by 1.4% y-o-y during the same period to SAR 582.5 mn.

Dr. Sulaiman Al Habib

Dr. Sulaiman Al Habib Medical Services Group’s net income slid 9.6% y-o-y to SAR 503.3 mn in 1Q 2026, missing Bloomberg estimates of SAR 631 mn, due to a rise in operating and financing costs linked to newly opened hospitals. Revenues increased 8.8% y-o-y to SAR 3.4 bn, driven by stronger performance across hospitals, pharmacies, and solutions, alongside higher patient volumes.

Dividends: The company’s board signed off on a SAR 353.5 mn dividend payout for the first quarter, at SAR 1.01 a piece. The distribution date is set for Thursday, 21 May.

SAL Saudi Logistics Services

SAL Saudi Logistics Services posted a 2.3% y-o-y increase in net income to SAR 156.6 mn in 1Q 2026, it said in its latest earnings release (pdf). The company’s bottom line was hit by war-related disruptions, operational pivots, and the CargoGate investment, which pressured margins to keep its services running. Meanwhile, revenues rose 16.1% y-o-y to SAR 445.8 mn, driven by a 19% increase in the cargo ground handling segment, supported by stronger pricing and higher yields rather than volume growth.

How SAL handled the war: SAL’s 1Q results were impacted by March’s regional air and maritime disruptions, which constricted volumes — particularly in transit and e-commerce — while tighter capacity helped push freight rates higher. The company partly cushioned the impact by adjusting its network and increasing the use of road feeder services to keep cargo moving.

Dividends: The company’s board greenlit a SAR 117.6 mn dividend payout for 1Q 2026, at SAR 1.47 a piece. The distribution date is set for Thursday, 11 June.