EZDAN (ERES) Q2 2026 earnings summary

Executive summary

• Net profit attributable to owners rose to QR 442 million in Q2 2026, up 4.5% year-over-year, with EPS at QR 0.017, a 6.3% increase, driven by lower finance costs and higher rental and other income.

• Operating profit increased to QR 782 million, up 2.1% year-over-year.

• Interim financials for the six months ended 30 June 2026 were reviewed by an independent auditor with no material misstatements.

• Core business remains real estate management, rentals, and related services, with a focus on asset optimization and cash flow enhancement.

Financial highlights

• Rental income grew to QR 904 million from QR 887.5 million, a 1.9% increase year-over-year.

• Finance costs dropped significantly to QR 302.5 million from QR 421.96 million, reflecting lower borrowing rates.

• Net cash from operating activities was QR 711 million, up from QR 700.4 million year-over-year.

• Cash and bank balances increased by 72% to QR 878 million from year-end 2025.

• Total assets reached QR 45.87 billion as of June 30, 2026, with total equity rising to QR 34 billion.

Outlook and guidance

• No new residential units are planned for addition in the near term.

• Asset sales of individual units are ongoing, with QR 101.9 million in assets held for sale available.

• Finance costs are expected to remain below 2025 levels for the full year 2026.

• Management expects continued operational stability but notes exposure to market risks and uncertainties.

• No significant subsequent events reported post-period end.