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More 1Q earnings: A handful of companies released their latest financials yesterday, giving us an indication of how they started off the year.
Al Rajhi Takaful
Al Rajhi Takaful Company for Cooperative Ins. (Al Rajhi Takaful) reported a 25% y-o-y increase in net income to SAR 113.5 mn in 1Q 2026, according to a Tadawul disclosure. The growth was attributed to a 27.1% jump in ins. service results, alongside a sizable boost from investment income. The firm’s revenue rose by 24.8% y-o-y to SAR 1.5 bn on higher volumes.
Cap hike: The company also secured approval from the Capital Market Authority to double its capital to SAR 2 bn via a one-for-one bonus share issue, funded by transferring SAR 1 bn from retained earnings. This will raise the firm’s outstanding shares to 200 mn from 100 mn.
Saudi German Health
Saudi German Health saw its bottom line shrink 84% y-o-y to SAR 25.7 mn in 1Q 2026, according to a Tadawul disclosure. The decline was mainly due to the absence of a one-off SAR 114 mn gain from a land sale the previous year, alongside new fees from the national health ins. platform on Health Ministry revenues and losses from a minority investee. Meanwhile, revenues rose 4.3% to SAR 765.2 mn, driven by a higher patient volume and the ramp-up of subspecialty services.
Walaa Cooperative Ins.
Walaa Cooperative Ins. swung to a net income of SAR 16.2 mn in 1Q 2026, recovering from a loss of SAR 68 mn the year prior, according to a Tadawul disclosure. The turnaround was driven by an improved ins. service result, a shift to net investment gains, and income from a subsidiary. Revenues, however, fell 19.7% y-o-y to SAR 633.2 mn, weighed by declines across most segments — led by a nearly 50% drop in non-linked P&S and a 42% fall in motor.
Aldawaa Medical Services
Aldawaa Medical Services’ net income dropped 8.4% y-o-y to SAR 321.8 mn in 2025. The decline was driven by higher spending on expansion, digitalization, and distribution, as well as one-off losses and impairment provisions. Revenues climbed 4.4% to SAR 6.7 bn, supported by growth across its retail (+3%), distribution (+24.8%), and logistics (+43%) segments.
Dividends: The company’s board signed off on a SAR 53.6 mn dividend payout for 4Q 2025 at SAR 0.63 apiece. The distribution date is set for 20 May.
