Spinneys 1961 (SPINNEYS) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 5.7% YoY to AED 2,740,280k; total net profit increased 5.7% to AED 223,692k.

• Q3 revenue was AED 830,942k, up 6.9% YoY, returning to growth after a 1.6% decline in Q2.

• Regional geopolitical and supply-chain disruption pressured freight costs, logistics and customer footfall.

Financial highlights

• 9M gross profit was AED 1,128,728k, up 4.6%; profit before tax was AED 261,925k, up 3.7%.

• 9M adjusted EBITDA was AED 512m, up 1.8%; profit after tax was AED 224m versus AED 212m.

• Q3 gross profit was AED 344,986k versus AED 326,502k; profit before tax was AED 58,530k versus AED 50,241k.

• Q3 net profit was AED 49,172k versus AED 41,445k; 9M EPS was AED 0.065 versus AED 0.060.

• 9M free cash flow was AED 208m versus AED 264m; cash and bank balances were AED 685m at 30 September 2026.

Outlook and guidance

• FY2026 revenue growth guidance was revised to 4.5–5.5% from 9–11%; LFL growth guidance moved to 2.3–3.3% from 6–8%.

• Adjusted EBITDA margin guidance remained 18–20%; capex guidance was reduced to 2.5–2.8% of revenue from 3.5–4.0%.

• Store-opening guidance remained 6–10 with one closure; YTD actuals were six openings and one closure.

• First Kuwait and Philippines stores were on track for Q1 2027; two further stores were planned before year-end.