Financial Results : Alujain incurs SAR 833.9M loss in 2025, SAR 845.4M in Q4

Alujain incurs SAR 833.9M loss in 2025, SAR 845.4M in Q4

16/03/2026 Argaam Exclusive

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Alujain Corp. widened its net loss to SAR 833.9 million in 2025, versus SAR 50.7 million in the year before.



Financials (M)

Item 2024 2025 Change‬
Revenues 1,555.33 1,301.51 (16.3 %)
Gross Income 228.52 (49.56) (121.7 %)
Operating Income (102.74) (1343.15) (1,207.3 %)
Net Income (50.70) (833.85) (1,544.6 %)
Average Shares 69.20 69.20 -
Earnings Per Share before unusual items (Riyals) 0.71 0.07 (89.7 %)
EPS (Riyal) (0.73) (12.05) (1,544.6 %)

The increased net loss was attributed to the recording of an accounting impairment loss on goodwill and impairment on property, plant, and equipment (PPE) of Natpet, totaling SAR 1.31 billion with Alujain incurring a SAR 851 million share.

 

Excluding the above-mentioned impairment loss, the company’s results showed a net profit of SAR 17 million.

 

Moreover, Alujain reported lower revenues in 2025 due to a 13% yearly decline in selling prices. This is besides the planned turnaround maintenance for its plant during the first quarter of 2025.

 

Its Q4 2025 net loss deepened to SAR 845.44 million, from SAR 99.83 million in Q4 2024.

 

The company had recorded a net profit of SAR 16.39 million in Q3 2025.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 358.14 326.85 (8.7 %)
Gross Income 17.54 (98.21) (660.0 %)
Operating Income (160.87) (1320.92) (721.1 %)
Net Income (116.77) (845.44) (624.0 %)
Average Shares 69.20 69.20 -
Earnings Per Share before unusual items (Riyal) 0.19 0.08 (57.1 %)
EPS (Riyal) (1.69) (12.22) (624.0 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 2.5 billion by Dec. 31, 2025, down from SAR 3.49 billion a year earlier.

 

Attached Documents:

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 305.60 38.5 % 51.56 242.8 % 28.94 980.3 %
Q2 2016 355.75 (16.6 %) 113.66 (16.9 %) 89.41 (23.7 %)
Q3 2016 - - - - (2.24) (102.0 %)
Q4 2016 441.61 10.2 % 106.39 15.6 % 83.43 15.4 %
Q1 2017 6.42 (97.9 %) 1.64 (96.8 %) (3.12) (110.8 %)
Q2 2017 7.96 (97.8 %) 2.52 (97.8 %) (2.46) (102.7 %)
Q3 2017 7.05 - 1.79 - (2.81) (25.3 %)
Q4 2017 6.90 (98.4 %) 1.38 (98.7 %) (3.99) (104.8 %)
Q1 2018 5.07 (21.0 %) (0.11) (106.9 %) (7.10) (127.7 %)
Q2 2018 7.05 (11.5 %) 1.76 (30.2 %) (2.14) 13.1 %
Q3 2018 6.74 (4.4 %) 1.42 (20.8 %) (2.34) 16.7 %
Q4 2018 7.02 1.8 % 1.57 14.2 % (3.69) 7.3 %
Q1 2019 4.75 (6.2 %) 0.82 823.0 % (2.39) 66.4 %
Q2 2019 6.56 (6.9 %) 1.75 (1.0 %) (1.03) 51.7 %
Q3 2019 6.69 (0.8 %) 1.61 13.3 % (1.57) 32.8 %
Q4 2019 5.73 (18.3 %) 1.53 (2.4 %) (6.72) (82.0 %)
Q1 2020 4.63 (2.5 %) 0.62 (24.7 %) (10.41) (336.4 %)
Q2 2020 2.61 (60.1 %) 0.04 (97.8 %) (4.01) (287.9 %)
Q3 2020 3.26 (51.2 %) 0.31 (80.9 %) (7.75) (392.9 %)
Q4 2020 3.87 (32.5 %) 0.38 (75.2 %) (4.08) 39.3 %
Q1 2021 4.76 2.7 % 0.74 20.7 % (4.15) 60.1 %
Q2 2021 5.25 100.7 % 0.79 1968.4 % (8.90) (122.1 %)
Q3 2021 6.53 100.4 % 1.32 332.0 % (1.86) 76.0 %
Q4 2021 502.76 12887.9 % 116.24 30488.4 % 72.55 1877.8 %
Q1 2022 509.37 10607.8 % 160.13 21480.3 % 89.26 2249.7 %
Q2 2022 574.64 10855.9 % 144.29 18256.9 % 64.17 821.2 %
Q3 2022 373.44 5616.2 % 25.65 1840.4 % 0.77 141.3 %
Q4 2022 453.73 (9.8 %) 73.62 (36.7 %) 4.19 (94.2 %)
Q1 2023 397.06 (22.0 %) 43.64 (72.7 %) 9.50 (89.4 %)
Q2 2023 401.87 (30.1 %) 78.88 (45.3 %) 39.71 (38.1 %)
Q3 2023 422.44 13.1 % 87.54 241.3 % 50.64 6502.2 %
Q4 2023 175.37 (61.4 %) 22.79 (69.0 %) (25.66) (712.0 %)
Q1 2024 478.21 20.4 % 79.25 81.6 % 20.71 117.9 %
Q2 2024 380.75 (5.3 %) 72.61 (8.0 %) 27.46 (30.9 %)
Q3 2024 338.23 (19.9 %) 59.13 (32.5 %) 5.78 (88.6 %)
Q4 2024 358.14 104.2 % 17.54 (23.0 %) (160.87) (527.0 %)
Q1 2025 267.66 (44.0 %) (13.05) (116.5 %) (41.48) (300.3 %)
Q2 2025 342.90 (9.9 %) 30.55 (57.9 %) 4.13 (85.0 %)
Q3 2025 364.11 7.7 % 31.14 (47.3 %) 4.18 (27.7 %)
Q4 2025 326.85 (8.7 %) (98.21) (660.0 %) (1320.92) (721.1 %)
2025 1,301.51 (16.3 %) (49.56) (121.7 %) (1343.15) (1,207.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 2.76 116.4 % 0.04 - 2.76 0.04
Q2 2016 38.61 (23.1 %) 0.56 - 38.61 0.56
Q3 2016 36.82 (19.2 %) 0.53 - 36.82 0.53
Q4 2016 35.75 30.1 % 0.52 - 35.75 0.52
Q1 2017 28.85 945.0 % 0.42 - 28.85 0.42
Q2 2017 12.49 (67.6 %) 0.18 - 12.49 0.18
Q3 2017 36.12 (1.9 %) 0.52 - 36.12 0.52
Q4 2017 58.73 64.3 % 0.85 15.98 42.75 0.62
Q1 2018 62.46 116.5 % 0.90 - 62.46 0.90
Q2 2018 63.99 412.2 % 0.92 - 63.99 0.92
Q3 2018 27.59 (23.6 %) 0.40 - 27.59 0.40
Q4 2018 (49.29) (183.9 %) (0.71) - (49.29) (0.71)
Q1 2019 (78.72) (226.0 %) (1.14) - (78.72) (1.14)
Q2 2019 (71.01) (211.0 %) (1.03) - (71.01) (1.03)
Q3 2019 (108.46) (493.1 %) (1.57) - (108.46) (1.57)
Q4 2019 449.33 1011.6 % 6.49 455.28 (5.94) (0.09)
Q1 2020 (46.37) 41.1 % (0.67) - (46.37) (0.67)
Q2 2020 182.98 357.7 % 2.64 189.42 (6.44) (0.09)
Q3 2020 15.92 114.7 % 0.23 - 15.92 0.23
Q4 2020 54.75 (87.8 %) 0.79 - 54.75 0.79
Q1 2021 60.30 230.1 % 0.87 - 60.30 0.87
Q2 2021 91.96 (49.7 %) 1.33 - 91.96 1.33
Q3 2021 56.74 256.4 % 0.82 - 56.74 0.82
Q4 2021 1,413.31 2481.2 % 20.42 1,351.86 61.45 0.89
Q1 2022 55.78 (7.5 %) 0.81 - 55.78 0.81
Q2 2022 62.97 (31.5 %) 0.91 24.31 38.66 0.56
Q3 2022 18.73 (67.0 %) 0.27 41.26 (22.53) (0.33)
Q4 2022 (72.94) (105.2 %) (1.05) (2.71) (70.23) (1.01)
Q1 2023 (20.88) (137.4 %) (0.30) - (20.88) (0.30)
Q2 2023 3.14 (95.0 %) 0.05 - 3.14 0.05
Q3 2023 2.25 (88.0 %) 0.03 (4.03) 6.29 0.09
Q4 2023 (66.76) 8.5 % (0.96) - (66.76) (0.96)
Q1 2024 5.62 126.9 % 0.08 - 5.62 0.08
Q2 2024 14.63 365.8 % 0.21 - 14.63 0.21
Q3 2024 45.81 1934.2 % 0.66 30.10 15.71 0.23
Q4 2024 (116.77) (74.9 %) (1.69) (129.74) 12.97 0.19
Q1 2025 (17.23) (406.3 %) (0.25) 4.34 (21.56) (0.31)
Q2 2025 12.43 (15.1 %) 0.18 4.76 7.67 0.11
Q3 2025 16.39 (64.2 %) 0.24 3.00 13.39 0.19
Q4 2025 (845.44) (624.0 %) (12.22) (851.00) 5.57 0.08
2025 (833.85) (1,544.6 %) (12.05) (838.91) 5.06 0.07

Profitability

Period Gross Margin Adjusted EBITDA margin Net Margin Before Unusual Items
Q1 2016 26.53 % 34.30 % 8.15 %
Q2 2016 26.24 % 34.67 % 7.76 %
Q3 2016 24.22 % 22.88 % 9.95 %
Q4 2016 24.63 % 37.91 % 10.33 %
Q1 2017 27.58 % 43.11 % 17.42 %
Q2 2017 24.24 % 42.30 % 24.98 %
Q3 2017 24.26 % 63.98 % 24.45 %
Q4 2017 25.86 % (32.42 %) 424.48 %
Q1 2018 20.67 % (48.29 %) 570.29 %
Q2 2018 18.47 % (49.39 %) 787.98 %
Q3 2018 17.25 % (45.68 %) 764.27 %
Q4 2018 17.92 % (46.65 %) 404.89 %
Q1 2019 21.78 % (28.23 %) (142.52 %)
Q2 2019 22.14 % (23.78 %) (683.83 %)
Q3 2019 22.94 % (24.31 %) (1229.13 %)
Q4 2019 24.02 % (33.71 %) (1113.02 %)
Q1 2020 23.29 % (67.88 %) (981.62 %)
Q2 2020 19.28 % (96.28 %) (850.20 %)
Q3 2020 15.34 % (154.61 %) (263.70 %)
Q4 2020 9.31 % (157.22 %) 124.27 %
Q1 2021 10.11 % (113.35 %) 858.72 %
Q2 2021 12.92 % (124.86 %) 1,301.19 %
Q3 2021 15.83 % (76.02 %) 1,292.51 %
Q4 2021 22.93 % 16.59 % 52.08 %
Q1 2022 27.20 % 22.11 % 25.97 %
Q2 2022 26.48 % 21.89 % 13.34 %
Q3 2022 22.77 % 20.35 % 6.80 %
Q4 2022 21.12 % 18.09 % 0.09 %
Q1 2023 15.97 % 14.87 % (4.17 %)
Q2 2023 13.64 % 14.84 % (6.80 %)
Q3 2023 16.94 % 17.34 % (4.88 %)
Q4 2023 16.67 % 19.03 % (5.60 %)
Q1 2024 18.16 % 18.71 % (3.50 %)
Q2 2024 18.00 % 18.11 % (2.76 %)
Q3 2024 17.03 % 15.74 % (2.24 %)
Q4 2024 14.69 % 4.83 % 3.15 %
2024 14.69 % 5.10 % 3.15 %
Q1 2025 10.13 % 0.68 % 1.62 %
Q2 2025 7.21 % (0.98 %) 1.13 %
Q3 2025 4.97 % (0.74 %) 0.93 %
Q4 2025 (3.81 %) - 0.39 %
2025 (3.81 %) - 0.39 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2016 69.20 1.82 1.82 15.03
Q2 2016 69.20 1.65 1.65 15.67
Q3 2016 69.20 1.53 1.53 16.25
Q4 2016 69.20 1.65 1.65 16.75
Q1 2017 69.20 2.02 2.02 17.16
Q2 2017 69.20 1.65 1.65 16.33
Q3 2017 69.20 1.64 1.64 16.83
Q4 2017 69.20 1.97 1.74 17.59
Q1 2018 69.20 2.45 2.22 18.49
Q2 2018 69.20 3.20 2.97 19.44
Q3 2018 69.20 3.07 2.84 19.82
Q4 2018 69.20 1.51 1.51 18.85
Q1 2019 69.20 (0.53) (0.53) 17.70
Q2 2019 69.20 (2.48) (2.48) 16.39
Q3 2019 69.20 (4.44) (4.44) 14.82
Q4 2019 69.20 2.76 (3.82) 21.36
Q1 2020 69.20 3.23 (3.35) 20.67
Q2 2020 69.20 6.90 (2.42) 23.32
Q3 2020 69.20 8.70 (0.62) 23.60
Q4 2020 69.20 3.00 0.26 24.43
Q1 2021 69.20 4.54 1.80 25.31
Q2 2021 69.20 3.22 3.22 26.64
Q3 2021 69.20 3.81 3.81 27.46
Q4 2021 69.20 23.44 3.91 37.74
Q1 2022 69.20 23.38 3.84 38.29
Q2 2022 69.20 22.96 3.07 38.13
Q3 2022 69.20 22.41 1.93 38.40
Q4 2022 69.20 0.93 0.02 37.30
Q1 2023 69.20 (0.18) (1.08) 37.00
Q2 2023 69.20 (1.04) (1.60) 37.04
Q3 2023 69.20 (1.28) (1.18) 37.08
Q4 2023 69.20 (1.19) (1.13) 43.82
Q1 2024 69.20 (0.81) (0.75) 43.54
Q2 2024 69.20 (0.64) (0.58) 51.48
Q3 2024 69.20 (0.01) (0.44) 52.14
Q4 2024 69.20 (0.73) 0.71 50.48
Q1 2025 69.20 (1.06) 0.31 50.23
Q2 2025 69.20 (1.09) 0.21 48.91
Q3 2025 69.20 (1.52) 0.18 48.40
Q4 2025 69.20 (12.05) 0.07 36.24

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 7.84 7.84 0.95
Q2 2016 7.88 7.88 0.83
Q3 2016 8.08 8.08 0.76
Q4 2016 11.94 11.94 1.17
Q1 2017 10.13 10.13 1.19
Q2 2017 13.36 13.36 1.35
Q3 2017 13.48 13.48 1.31
Q4 2017 10.82 12.25 1.21
Q1 2018 10.05 11.09 1.33
Q2 2018 9.72 10.48 1.60
Q3 2018 10.20 11.02 1.58
Q4 2018 12.86 12.86 1.03
Q1 2019 NEG NEG 1.28
Q2 2019 NEG NEG 1.32
Q3 2019 NEG NEG 1.29
Q4 2019 10.86 NEG 1.40
Q1 2020 7.39 NEG 1.16
Q2 2020 3.87 NEG 1.14
Q3 2020 5.10 NEG 1.88
Q4 2020 15.71 More than 100 1.93
Q1 2021 10.73 27.06 1.92
Q2 2021 17.48 17.48 2.11
Q3 2021 17.74 17.74 2.46
Q4 2021 2.30 13.82 1.43
Q1 2022 2.77 16.84 1.69
Q2 2022 2.53 18.94 1.53
Q3 2022 2.19 25.43 1.28
Q4 2022 39.94 More than 100 1.00
Q1 2023 NEG NEG 0.99
Q2 2023 NEG NEG 1.20
Q3 2023 NEG NEG 1.19
Q4 2023 NEG NEG 0.92
Q1 2024 NEG NEG 0.94
Q2 2024 NEG NEG 0.81
Q3 2024 NEG NEG 0.81
Q4 2024 NEG 54.16 0.76
Q1 2025 NEG More than 100 0.78
Q2 2025 NEG More than 100 0.76
Q3 2025 NEG More than 100 0.74
Q4 2025 NEG More than 100 0.75

Business Segments (Million)

Compared With The
Period Petrochemicals Manufacturing Manufacturing home care products
Q1 2017 - 6.42
Q2 2017 - 7.96
Q3 2017 - 7.05
Q4 2017 - 6.90
Q1 2018 - 5.07
Q2 2018 - 7.05
Q3 2018 - 6.74
Q4 2018 - 7.02
Q1 2019 - 4.75
Q2 2019 - 6.56
Q3 2019 - 6.69
Q4 2019 - 5.73
Q1 2020 - 4.63
Q2 2020 - 2.61
Q3 2020 - 3.26
Q4 2020 - 3.87
Q1 2021 - 4.76
Q2 2021 - 5.25
Q3 2021 - 6.53
Q4 2021 495.39 7.37
Q1 2022 503.77 5.60
Q2 2022 570.29 4.35
Q3 2022 367.58 5.86
Q4 2022 447.64 6.09
Q1 2023 391.17 5.89
Q2 2023 397.30 4.57
Q3 2023 421.32 1.12
Q4 2023 175.37 -
Q1 2024 478.21 -
Q2 2024 380.75 -
Q3 2024 338.23 -
Q4 2024 358.14 -
Q1 2025 267.66 -
Q2 2025 342.90 -
Q3 2025 364.11 -

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change Profit Before Unusual Items Change
Average 7.55 (845.44) 5.57

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬ Profit Before Unusual Items Change‬
Sico 7.05 (845.44) 5.57
AlJazira Capital 7.60 (845.44) 5.57
GIB Capital 8.00 (845.44) 5.57


Financial Ratios
Current
Market Cap (M Riyal) 1,926.53
Enterprise Value (EV) (M Riyal) 2,576.74
Shares Outstanding ((M)) 69.20
EPS ( Riyal) (TTM) (12.05)
Book Value (BV) ( Riyal) 36.24
Par Value ( Riyal) 10.00
Recurring P/E More than 100
P/E (TTM) NEG
Price/book 0.77
Return on Average Assets (%) (TTM) (17.68 )
Return on Average Equity (%) (TTM) (27.79 )
EV/adj EBITDA -
EV/Revenues 1.98
more

Share Price

Alujain Corp.
27.84
1.66 6.34 %

Alujain Corp. (ALUJAIN)

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