Financial Results : Chemanol loses SAR 40.5M in Q1 2025

Chemanol loses SAR 40.5M in Q1 2025

15/05/2025 Argaam Exclusive

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Methanol Chemicals Co. (Chemanol) widened Q1 2025 net loss to SAR 40.5 million from SAR 24.5 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 183.27 167.90 (8.4 %)
Gross Income 21.53 15.44 (28.3 %)
Operating Income (16.10) (27.90) (73.2 %)
Net Income (24.48) (40.47) (65.3 %)
Average Shares 67.45 67.45 -
Earnings Per Share before unusual items (Riyal) (0.36) (0.60) (65.3 %)
EPS (Riyal) (0.36) (0.60) (65.3 %)

This was hit by an annual decline of 2% in sales volumes and a fall of 6% year-on-year (YoY) in selling prices.

 

Further, feedstock (natural gas) prices increased by 23% at the beginning of the year, which contributed to an increase in production costs during the current quarter, compared to the previous quarter.

 

Additionally, the losses were compounded by the financial performance of newly acquired subsidiaries, contributing a combined loss of SAR 10.1 million to the overall losses during the quarter, compared to SAR 3 million a year ago.

 

The Q1 2024 included only one month of performance from a subsidiary following its acquisition last in the quarter.

 

Sequentially, net loss narrowed from SAR 195.36 million in Q4 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 728.24 million as of March 31, 2025, compared to SAR 1.016 billion a year earlier.

 

Accumulated losses by March 31, 2025, stood at SAR 108.28 million, or 16.05% of capital.

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