{"id":99446,"date":"2025-08-06T00:00:00","date_gmt":"2025-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/08\/06\/bupa-arabias-net-income-down-in-2q-cenomi-retail-is-deeper-in-the-red\/"},"modified":"2025-08-06T00:00:00","modified_gmt":"2025-08-06T00:00:00","slug":"bupa-arabias-net-income-down-in-2q-cenomi-retail-is-deeper-in-the-red","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/08\/06\/bupa-arabias-net-income-down-in-2q-cenomi-retail-is-deeper-in-the-red\/","title":{"rendered":"Bupa Arabia\u2019s net income down in 2Q + Cenomi Retail is deeper in the red"},"content":{"rendered":"

\n

BUPA ARABIA-<\/p>\n

Bupa Ar<\/a><\/strong>abia for Cooperative Ins.<\/a><\/strong> saw i<\/strong>ts<\/strong> net income drop <\/strong>29.3% y-o-y to SAR 286.3 mn in <\/strong>2Q 2025<\/strong>, as a 40.8% y-o-y decline in ins. services due higher inflation and seasonal claims overshadowed a 54.7% surge in gross written premiums and a 12% reduction in operating expenses, it said in a Tadawul disclosure<\/a> yesterday. Meanwhile, revenue expanded 3.4% y-o-y to SAR 4.7 bn over the same period, driven by an increase in ins. contracts.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

On a 1H basis<\/strong>, the ins. provider\u2019s bottom line slipped 12.8% to SAR 666.5 mn, while its ins. revenues expanded 2.1% y-o-y to SAR 9.1 bn.<\/p>\n

\n

CENOMI RETAIL-<\/p>\n

Cenomi Retail fell into the red in 2Q 2025<\/strong>, recording a SAR 85.3 mn net loss, compared to SAR 84.1 mn in net income during the same quarter last year, it said in an earnings release (pdf)<\/a>. The loss was driven by an 80.8% drop in operating income and a 279.7% rise in other operating expenses, including FX losses from EUR appreciation and a tax settlement with Zatca.<\/p>\n

Revenue declined 7% y-o-y to SAR 1.1 bn<\/strong> due to the seasonal sales boost from Ramadan falling entirely in 1Q, rather than between quarters last year.<\/p>\n

On a 1H basis<\/strong>, Cenomi Retail reported a SAR 83.2 mn net loss, widening from SAR 67.6 mn a year earlier, while revenue rose 2% y-o-y to SAR 2.5 bn.<\/p>\n

ICYMI-<\/strong> Al Futtaim Group\u2019s planned acquisition of a 49.95% stake<\/a> in Cenomi Retail cleared a regulatory checkpoint earlier this week<\/a>, after receiving the greenlight from the General Authority for Competition. The two retail giants had inked a share purchase agreement for SAR 2.5 bn (USD 667 mn) last month<\/a>. In addition to buying the stake from the founding Alhokair family shareholders, Al-Futtaim will provide a SAR 1.3 bn loan to shore up Cenomi\u2019s finances and fund its recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"

Al-Futtaim\u2019s acquisition of 49% in Cenomi will drive its recovery by a SAR 1.3 bn loan<\/p>\n","protected":false},"author":1,"featured_media":99447,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[3363,605,285,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-bupa-arabia","tag-cenomi-retail","tag-earnings-watch","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"625f871a-40a4-4b03-a5bf-5cbae5105c5c","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/343.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bupa Arabia\u2019s net income fell 29.3% y-o-y, Cenomi Retail\u2019s net loss expands to SAR 85 mn in 2Q 2025","related_issue":[99433],"teaser":"Al-Futtaim\u2019s acquisition of 49% in Cenomi will drive its recovery by a SAR 1.3 bn loan","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.7757aceb-81c1-4342-8956-ca0590d4f7a2.mp3"},"yoast_head":"\nBupa Arabia\u2019s net income down in 2Q + Cenomi Retail is deeper in the red - 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