Tadawul-
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 111,040,957 88,240,593 25.838 142,031,923 -21.819
Gross Profit (Loss) 20,822,871 21,586,578 -3.537 29,708,921 -29.91
Operational Profit (Loss) 9,864,620 9,991,443 -1.269 17,493,157 -43.608
Net Profit (Loss) Attributable to Shareholders of the Issuer 8,491,132 9,226,805 -7.973 13,614,067 -37.629
Total Comprehensive Income Attributable to Shareholders of the Issuer 7,159,750 9,226,805 -22.402 14,431,347 -50.387
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total Shareholders Equity (after Deducting Minority Equity) 207,293,657 161,940,930 28.005
Profit (Loss) per Share 0.08 0.09
All figures are in (Actual) Saudi Arabia, Riyals
Element List Amount Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is CGS recorded a strong rebound in total revenue, which increased by 25.8% year-on-year (YoY) to SAR 111.0 million in Q1-FY27 from SAR 88.2 million in Q1-FY26. The growth was driven by solid performance across most business segments, highlighting the resilience of the company’s diversified business model, despite ongoing macroeconomic challenges.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is CGS delivered a net profit of SAR 8.5 million in Q1-FY27, compared to SAR 9.2 million in Q1-FY26, a decrease of 8.0%. Net profit margin stood at 7.6% (Q1-FY26: 10.5%), a contraction of 281 basis points. This was due to:
• Stationary Refrigeration revenue being up 165.8% YoY to SAR 48.7 million, driven by the conversion of the backlog, while Customized Solutions grew 18.5% YoY to SAR 17.1 million, supported by strong project activity and a significantly expanded backlog. After Market Services increased 8.6% YoY to SAR 10.5 million, benefiting from a growing Stationary Refrigeration base, whereas Automotive Solutions revenue declined 24.1% YoY to SAR 34.8 million due to continued supply constraints impacting our customers’ chassis procurement and a more cautious customer investment approach amid regional geopolitical uncertainties.
• Gross profit declined 3.5% YoY to SAR 20.8 million in Q1-FY27 from SAR 21.6 million, with gross margin contracting to 18.8% from 24.5% in Q1-FY26 due to a significant shift in revenue mix towards the Stationary Refrigeration segment, whose contribution increased to 44% from 21% in the prior period.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is Revenue declined 21.8% QoQ to SAR 111.0 million in Q1-FY27 from SAR 142.0 million in Q4-FY26, mainly due to lower Automotive Solutions activity along with lower Customized Solutions revenue reflecting the timing of project execution and revenue recognition. These declines were partly mitigated by solid growth in Stationary Refrigeration following the execution of backlog, alongside continued expansion in After Market Services.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is Net profit declined 37.6% QoQ to SAR 8.5 million in Q1-FY27 from SAR 13.6 million in Q4-FY26, primarily due to the following reasons:
• Revenue decreased 21.8% to SAR 111.0 million. Automotive Solutions revenue declined by 46.8% to SAR 34.8 million due to continued supply constraints and a more cautious customer investment approach amid regional geopolitical uncertainties while maintaining solid near term and long-term growth prospects. Customized Solutions revenue also declined by 50.1% to SAR 17.1 million, reflecting the project-based nature of the business, whereby revenue recognition is influenced by the timing and execution of large contracts. Partially offsetting these declines was solid growth of 48.6% in Stationary Refrigeration revenue to SAR 48.7 million following the conversion of backlog orders, while After Market Services revenue grew 9.3% QoQ to SAR 10.5 million, supported by increased service and maintenance activity, as the Stationary Refrigeration business continued to expand.
• Gross profit declined 29.9% QoQ to SAR 20.8 million from SAR 29.7 million in Q4-FY26, with gross margin contracting to 18.8% from 20.9%, largely due to a significant shift in revenue mix toward the lower-margin Stationary Refrigeration segment.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items Some comparative figures have been reclassified. The details of the reclassification are available in notes to financial statements.
Additional Information -