SHUAA Capital (SHUAA) Q2 2026 earnings summary

Executive summary

• Achieved a net profit of AED 2.9 million for the six months ended 30 June 2026, a significant decline from AED 217 million in the prior year period.

• Revenue for the period was AED 39.4 million, down from AED 48.97 million year-over-year.

• Ongoing restructuring and refinancing discussions for AED 221 million term loan, with a waiver extended to 31 August 2026.

• Auditor issued a qualified review due to inability to verify fair value of a major associate's fund investment.

Financial highlights

• Total revenues for H1 2026 were AED 39.4 million, a 19.5% decrease year-over-year.

• Net profit after tax for H1 2026 was AED 2.85 million, compared to AED 217.1 million in H1 2025.

• Earnings per share for H1 2026 was AED (0.00), down from AED 0.06 in H1 2025.

• Cash and cash equivalents increased to AED 77.8 million from AED 50.1 million at year-end 2025.

• Borrowings stood at AED 306.9 million as of 30 June 2026, down from AED 320.5 million at year-end 2025.

Outlook and guidance

• Management expects to finalize restructuring and refinancing of the main facility before Q3 2026.

• No material financial impact from geopolitical conditions as of the reporting date.

• Board assessed going concern based on operational profitability, liquidity, and forecasted cash flows.