BAHRAIN Car Parks Company (Amakin) yesterday announced its financial results for the three months ended March 31, 2026.
As for the company’s financial results for the three months ended March 31, 2026, net profit reached BD189,000 compared to BD247,000 reported for the same period in 2025, a decrease of 23pc.
This decline reflects the impact of the Iranian aggression against the kingdom and the rest of the GCC, which resulted in the delay of some strategic projects that were expected to be operational and contribute to returns during this period.
Basic and diluted earnings per share were at 2 fils, compared to 2 fils for the same period in 2025.
The company reported a total comprehensive income of BD189,000, a decrease of 21pc compared to BD239,000 reported for the same period in 2025, and an increase of 11pc in operating income, BD858,000 compared to BD771,000 for the same period in 2025.
Total equity amounted to BD19.69m compared to BD20.49m as at December 31, 2025, which represents a decrease of 4pc.
The company’s assets were at BD22.62m, compared to BD22.52m for the year ended December 31, 2025, which represents an increase of 0.40pc.
In his commentary on the results, chairman Khalifa Al Jalahma said: “Despite the challenging geopolitical backdrop witnessed during the first quarter of 2026, Amakin successfully maintained its revenue growth, whilst achieving healthy profitability, and preserved its market share, owing to the flexibility of its business model and management’s continuous efforts to enhance its service offering whilst mitigating any short term negative impact on business operations.”
He added: “We look forward to building on this performance during 2026 by executing and delivering on Amakin’s expansion plans, in parallel to solidifying the company’s leadership position in smart mobility parking solutions.”
On his part, chief executive officer Tariq Aljowder said: “Amid the conditions witnessed in the region, and the Iranian attacks targeting the Kingdom of Bahrain and the GCC, Bahrain Car Parks company (Amakin) delivered a balanced performance during the first quarter of 2026.
“This underscores the company’s ability to manage through adverse conditions with resilience, reflecting the robustness of its operations and the effectiveness of its response with the ongoing developments. The Company continued to execute its strategic plans during the period, improving its operational efficiency and performance quality across all levels.”
Mr Aljowder added: “The Amakin-Pearls project continues to achieve notable progress in its execution, with the overall completion rate reaching 36 per cent as of the end of March 2026.
Construction works are progressing at an accelerated pace across various phases of the project in accordance with the approved execution schedule, reflecting the positive momentum of the development and reaffirming the company’s commitment to delivering the project within the targeted timeframe. This progress forms part of Amakin’s broader vision to develop modern and smart parking facilities that contribute to enhancing the quality of services across Muharraq Governorate.”
He continued: “Amakin remains committed to enhancing its services and projects in support of the continued development of the kingdom’s parking and urban mobility sector. Through expanding its range of services and strengthening cooperation with relevant entities, the Company seeks to support its future growth strategy, reinforce its position in the local market, and deliver more advanced and efficient solutions aligned with the ongoing urban development.”
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