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Atlas Elevators' H1 profit falls 22.82%
Atlas Elevators Trading Company and Contracting’s financial results showed a decline in net profits by 22.82% during the first half of 2026, reaching 3.32 million SAR compared to 4.31 million SAR in the same period last year. Revenue decreased by 10.46% to 36.21 million SAR, due to a drop in sales from the main sector of installations and maintenance by 12%, a decline in completed contracts, and a decrease in sales to local clients resulting from the repeated closures of the Strait of Hormuz and regional conflicts. Additionally, branch sales at the factory declined by 7.94%, with gross profit falling to 13.65 million SAR, and administrative and selling expenses increased by 24.83%. These results are driven by challenges stemming from geopolitical conditions and their impact on supply chains and sales.
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