Bawan earns SAR 120.80M in 9M 2026, SAR 14.93M in Q3

Bawan Co. delivered a net profit of SAR 120.8 million in the first nine months of 2026, down from SAR 204.99 million a year before.

The company attributed the year-on-year (YoY) profit decline to lower revenue, as sales volumes weighed on its electrical, metal and wood products businesses.

This was partly offset by higher oil and gas revenue, reflecting the consolidation of Petronash’s results for the full nine months, compared with consolidation from Feb. 13, 2025, in the corresponding period last year. Bawan also reported an increase in project execution. Plastics revenue also grew, supported by higher sales volumes and improved average selling prices.

Profit was further weighed down by the absence of a one-off, non-cash bargain purchase gain of SAR 126.5 million recognized on the Petronash acquisition in the prior-year period.

The electrical industries business recorded lower profitability as sales volumes and average selling prices fell. In addition, the company reported higher amortization charges related to purchase price allocation (PPA).

General and administrative expenses (G&A) increased as Petronash’s financial statements were consolidated for the full nine months, compared with the period from Feb. 13, 2025, a year earlier.

These factors were partly offset by higher oil and gas profit, reflecting the longer consolidation period for Petronash, and strong profitability in the metal industries business.

Plastics profitability also improved on higher sales volumes and revenue. Lower finance costs and higher other income provided further support.

In Q3 2026, net profit fell 37.6% to SAR 14.93 million from SAR 23.94 million a year earlier.

Bawan’s net profit declined from SAR 53.94 million in Q2 2026.

Shareholders' equity, after minority interest, rose to SAR 1.16 billion as of Sept. 30, 2026, from SAR 1.10 billion in the prior-year period.

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