Tasnee incurs SAR 1.76B loss in 2025; Q4 at SAR 2.03B

National Industrialization Co. (Tasnee) widened its net loss to SAR 1.76 billion in 2025 from SAR 27.9 million a year earlier.

The company attributed the period’s losses to lower revenue, mainly due to the decrease in average selling prices and sales volumes for most of the products.

Additionally, Tasnee reported an impairment of non-financial assets of Ilmenite Titanium Smelter Complex in Jazan and Acrylic Monomers plant in Jubail owned by the group’s subsidiaries resulting in a non-cash negative impact of SAR 2.1 billion (Tasnee’s share was SAR 1.760 billion), and an impairment of investment in an associate (Tronox Holdings plc) amounting to SAR 464 million (Tasnee’s share was SAR 367 million). This was despite non-cash positive impact of debt restructuring for the Acrylic Complex amounting to SAR 2.03 billion (Tasnee’s share SAR 1.06 billion).

Meanwhile, the increase in net loss is also attributed to a decrease in the average selling prices and sales volumes for most of the products also resulting in share of net losses from joint ventures and associates, increase in general administrative expenses due to the full consolidation of one of the subsidiaries in Acrylic Complex (SAMCO) and Zakat charge, and lower finance income, despite lower cost of sales.

In Q4 2025, Tasnee expanded losses to SAR 2.03 billion, compared to SAR 97.74 million in Q4 2024.

Sequentially, losses extended from SAR 558.52 million in Q3 2025.

Total shareholders’ equity, after minority interest, inched down to SAR 7.82 billion by the end of 2025, from SAR 9.52 billion a year earlier.

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