Financial Results : Saudi Kayan widens Q1 2025 loss to SAR 775.8M

Saudi Kayan widens Q1 2025 loss to SAR 775.8M

28/04/2025 Argaam Exclusive

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Saudi Kayan Petrochemical Co. reported a net loss of SAR 775.8 million in Q1 2025, compared with a loss of SAR 571.9 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 1,975.84 2,061.79 4.4 %
Gross Income (274.82) (388.65) (41.4 %)
Operating Income (442.00) (583.58) (32.0 %)
Net Income (571.86) (775.78) (35.7 %)
Average Shares 1,500.00 1,500.00 -
Earnings Per Share before unusual items (Riyals) (0.41) (0.50) (20.1 %)
EPS (Riyals) (0.38) (0.52) (35.7 %)

This was attributed to higher raw materials costs, as the company received a notice of an increase in feedstock prices as announced on Tadawul on Jan. 2, 2025. In addition to the non-recurring cost of refinancing Islamic Murabaha loans and restructuring, as part of the transformation program, which will have a positive impact on the company's future results.

 

Q1 2024 included the collection of a partial insurance amount of SAR 47 million.

 

However, revenues increased year-on-year, driven by higher average selling prices.

 

Sequentially, the company's Q1 2025 losses increased from SAR 685.61 million in Q4 2024, mainly due to lower revenues.

 

Total shareholders’ equity, no minority interest, stood at SAR 10.73 billion as of March 31, 2025, down from SAR 12.74 billion a year earlier.

 

Accumulated losses amounted to SAR 5.02 billion at the end of the current period, representing 33.35% of the company's capital.

 

Attached Documents:

 

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