Advanced Petrochemical Reports SAR 30M Net Profit in Q1 2026
ADVANCED 2330.SA | 0.00 |
On 2026-04-27 08:46:06 (Saudi Time), Advanced Petrochemical Company announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,079 | 614 | 75.732 | 1,172 | -7.935 |
| Gross Profit (Loss) | 178 | 107 | 66.355 | 194 | -8.247 |
| Operational Profit (Loss) | 124 | 73 | 69.863 | 128 | -3.125 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 30 | 72 | -58.333 | 1 | 2,900 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 130 | 42 | 209.523 | -50 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 2,993 | 2,915 | 2.675 |
| Profit (Loss) per Share | 0.116 | 0.277 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 75.73% YoY to SAR 1,079 million primarily driven by a 94% increase in sales volume following the commencement of operations of Advanced Polyolefins Industry Company in Q3 2025, despite a 10% decrease in netback prices. Net profit declined 58.33% YoY to SAR 30 million due to the recording of depreciation, fixed costs and financial charges after the new subsidiary began commercial operations. The profit decrease occurred despite the significant revenue growth, lower propane prices by 14%, and recognition of a gain on disposal of investment in an associate from a share swap transaction with SK Gas Petrochemical.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 7.935% to 1,079 million SAR primarily due to a 14% decrease in sales volume, despite a 7% increase in netback prices. Net profit surged 2,900% from 1 million to 30 million SAR, driven by an 11% reduction in financing costs, 19% decrease in SG&A expenses, and recognition of gains from disposal of investment in an associate following a share swap transaction with SK Gas Petrochemical Pte. Ltd.
Other Items
The auditors issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. No accumulated losses were reported, with the company maintaining positive shareholders' equity of SAR 2,993 million. The company recognized a gain on disposal of investment in associate during the quarter and reclassified foreign currency translation reserve from other comprehensive income to the income statement in accordance with prevailing accounting standards.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94693&anCat=1&cs=2330&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.