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National Industrialization Co. announces its Interim Financial results for the Period Ending on 2026-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 495 | 648.2 | -23.634 | 612.8 | -19.223 |
| Gross Profit (Loss) | -20.1 | 34.3 | - | -40.8 | -50.735 |
| Operational Profit (Loss) | -430.4 | -164.5 | 161.641 | -2,471.3 | -82.584 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -341.3 | 895.8 | - | -2,036.7 | -83.242 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -337.7 | 830.2 | - | -1,992.5 | -83.051 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 7,485.2 | 10,353.7 | -27.705 |
| Profit (Loss) per Share | -0.51 | 1.34 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Lower revenue is mainly due to the decrease in sales volumes and average selling prices for most of the products. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net loss is primarily attributable to the decrease in average selling prices and sales volumes for most of the products, higher share of losses from joint ventures mainly due to shutdown of Ethylene and Polyethylene plants for scheduled maintenance and expansion project activities, and lower finance and other income, despite decrease in cost of sales, general administrative expenses and finance costs. In addition, the comparative quarter of previous year included a non-cash positive impact of debt restructuring for the Acrylic Complex amounting to SR 2,029 million (Tasnee share SR 1,061 million). |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Lower revenue is mainly due to the decrease in sales volumes for most of the products, partially offset by improved average selling prices for certain products. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in net loss is primarily attributable to the impairment of non-financial assets recorded in the previous quarter, as well as improved average selling prices for certain products, lower cost of sales , and higher finance and other income, despite lower sales volumes for most of the products, higher zakat charge, and increase in share of losses from joint ventures mainly due to the shutdown of the Ethylene and Polyethylene plants for scheduled maintenance and expansion project activities. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain corresponding figures for the comparative year have been re-presented, as some of the Group’s subsidiaries met the criteria, as defined in IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations’. |
| Additional Information | Summary of key financial events as disclosed in the respective notes in Group’s interim condensed consolidated financial statements for the quarter ended 31 March 2026: - One of the Group’s joint ventures, Saudi Ethylene & Polyethylene Company, commenced an extended shutdown of its Ethylene and Polyethylene plants effective 02 January 2026 for planned periodic maintenance and activities related to the Ethylene Cracker Expansion project, as announced on Tadawul on 01 January 2026, with subsequent updates on 03 March 2026 and 15 April 2026. As the shutdown continued into the second quarter of 2026, the related financial impact is expected to be recognized in both quarters. - The Group executed a Share Purchase Agreement for the sale of a group of subsidiaries in the Downstream segment, as announced on Tadawul on 02 March 2026. These subsidiaries have been classified as ‘held for sale’ and presented as ‘discontinued operations’, as they meet the applicable accounting criteria. - The Group initiated procedures to idle Furnace One at the Ilmenite Titanium Smelter Complex in Jazan, owned by Advanced Smelting Industries Company Limited (ASIC), an 89.5%-owned subsidiary of TASNEE. This initiative aligns with TASNEE’s priorities to maintain strategic focus on Petrochemicals, optimize its value-accretive asset portfolio, conserve liquidity, accelerating debt reduction and deliver quality returns to shareholders. - The Company repurchased 450,000 of its shares for SR 3.9 million (cumulative since 2025: 5,136,430 shares for SR 53.2 million), in compliance with the relevant regulatory requirements and pursuant to shareholders’ approval at the General Assembly Meeting held on 11 May 2025. The repurchased shares are classified as treasury shares and presented as a deduction from equity, in accordance with the applicable accounting standards. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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