On 2026-07-12 08:53:03 (Saudi Time), ADVANCED PETROCHEMICAL COMPANY announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ended 30 June 2026, sales/revenue rose 45.163% YoY to SAR 1,906 million (from SAR 1,313 million), driven by a 37% increase in sales volume following the commencement of operations of Advanced Polyolefins Industry Company in H2 2025, combined with a 6% increase in netback prices, despite production losses in Q2 2026 caused by lower Propane supply in April and May 2026. Net profit swung to a loss of SAR 69 million from a profit of SAR 153 million in the same period last year, primarily due to the recognition of depreciation, fixed costs, and financial charges in the income statement following the commencement of commercial operations of Advanced Polyolefins Industry Company in H2 2025 — costs that were not charged in H1 2025 — compounded by a one-time non-cash amortization expense of approximately SAR 20 million related to advancement of scheduled periodic maintenance activities during the Propane shortage period.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 23.354% to SAR 827 million (vs. SAR 1,079 million in Q1 2026), driven primarily by a 46% drop in sales volume due to a 57% reduction in production volume caused by lower Propane supply in April and May 2026, partially offset by a 42% increase in netback prices. Net profit swung to a loss of SAR 98 million from a profit of SAR 30 million in the prior quarter, driven by the revenue decline combined with a sharp 46% and 15% rise in Propane and Propylene purchase prices respectively. Additionally, a one-time non-cash amortization expense of approximately SAR 20 million was recorded, resulting from the advancement of scheduled periodic maintenance activities originally planned for 2027, carried out during the Propane shortage period.

Other Items

Advanced Petrochemical Company's estimated financial results for the six months ended June 30, 2026 were prepared by the company's management and have not been audited or reviewed by its external auditor; the auditor's report type is noted as an unmodified conclusion. For the current quarter (Q2 2026), sales/revenue reached SAR 827 million, gross profit was SAR 73 million, operational profit was SAR 17 million, net loss attributable to shareholders was SAR 98 million, and total comprehensive loss attributable to shareholders was SAR 105 million. For the six-month period, gross profit was SAR 251 million, operational profit was SAR 141 million, total comprehensive income attributable to shareholders was SAR 25 million, total shareholders' equity (after deducting minority equity) stood at SAR 2,889 million, and loss per share was SAR -0.264. No accumulated losses or fair value changes on investment properties were reported. The company noted that Propane supply and production volumes returned to normal levels commencing June 2026, and that the advancement of maintenance activities is expected to enhance operational efficiency and support increased production volumes in upcoming periods.

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