Jabal Omar Development Company (4250) investor relations material

Executive summary

• Revenue for 1H 2026 reached SR 1,454.3 million, up 16% year-over-year, driven by strong operational performance, higher hotel operations, and rental income.

• Adjusted EBITDA rose 15% to 793 million, and Adjusted FFO increased 25% to 561 million year-over-year.

• Net income for 1H 2026 was SR 275.1 million, a 70% decline from SR 903.9 million in 1H 2025, mainly due to the absence of a large one-off land sale gain in the prior period.

• Gross profit increased to SR 606.5 million from SR 524.7 million year-over-year, reflecting improved operational performance.

• Portfolio includes over 6,500 operational hotel keys and 56,900 sqm of commercial GLA, with a robust pipeline of 1,141 keys and 20,000+ sqm GLA.

Financial highlights

• Revenue grew 16% year-over-year to SR 1,454.3 million in 1H 2026.

• Adjusted EBITDA margin remained stable at 54.5% versus 55.1% in 1H 2025.

• Adjusted FFO increased 25% year-over-year to 561 million, supported by lower interest expense.

• Net debt stood at SR 8.7 billion at 30 June 2026, unchanged year-to-date.

• Capex was 223 million, down 21% year-over-year due to geopolitical delays.

Outlook and guidance

• Capex is expected to decline sharply after Phase 4 completion, requiring an additional 0.9 billion.

• Sale of 400 branded units over two years is projected to generate 2.5–4 billion in cash flows.

• Sofitel hotel to begin partial operations in 4Q 2026; Phase 4 commercial center to be operational in 2027.

• Management expects continued positive cash flow and no material uncertainties regarding going concern for the next 12 months.

• The company is monitoring regional geopolitical developments and their potential impact on religious tourism and guest arrivals.