Chemanol incurs SAR 510.1M loss in 9M 2025; Q3 at SAR 42.4M

Methanol Chemicals Co. (Chemanol) reported a net loss of SAR 510.1 million for the first nine months of 2025, compared to a loss of SAR 76.9 million in the same period of 2024.

The company attributed the wider loss to a 10% decline in revenue, driven by an 8% drop in average selling prices and a 2% fall in sales volumes.

Chemanol also faced an 8% increase in feedstock (natural gas) costs at the beginning of the year, totaling approximately SAR 58.5 million.

The financial performance of its two subsidiaries, ACC and GCI—acquired under the previous board—added to the losses. The subsidiaries reported a combined SAR 30.8 million loss during the period, compared with SAR 24.1 million a year earlier.

The company recorded additional impairment charges of SAR 279.3 million on subsidiary assets, alongside SAR 94.5 million in provisions for receivables related to working capital and feedstock support, following an assessment of recoverable amounts due to continued losses.

In Q3 2025, Chemanol posted a net loss of SAR 42.36 million, compared with SAR 24.43 million in Q3 2024, while the loss narrowed from SAR 427.26 million in Q2 2025.

The company stated that shareholders’ equity (excluding minority interest) stood at SAR 258.61 million at the end of the period, compared to SAR 963.62 million at the end of Sept. 30, 2024.

Chemanol also reported that accumulated losses reached SAR 577.9 million, representing 85.7% of the company’s share capital.

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