Advanced Petrochemical Reports SAR 30M Net Profit in Three Months 2026
ADVANCED 2330.SA | 0.00 |
On 2026-04-12 08:56:21 (Saudi Time), Advanced Petrochemical Company announced its quarterly 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) | 177 | 107 | 65.42 | 194 | -8.762 |
| Operational Profit (Loss) | 123 | 73 | 68.493 | 128 | -3.906 |
| 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 | 131 | 42 | 211.904 | -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 75.732% 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 58.333% YoY to SAR 30 million due to the recording of depreciation, fixed costs and financial charges after the commencement of commercial operations, which offset the benefits from 76% revenue growth, 14% lower propane prices, and gains from disposal of investment in an associate.
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 external auditor issued an unmodified conclusion for the period. These estimated financial results for the period ended on March 31, 2026, have been prepared by the company's management and have not been audited or reviewed by its external auditor. No accumulated losses were reported. Total shareholders equity increased 2.675% to SAR 2,993 million. Earnings per share decreased to SAR 0.116 from SAR 0.277 in the comparable prior year period. The company recognized gain on disposal of investment in associate and recycled foreign currency translation reserve from OCI to income statement per prevailing accounting standards.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94340&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.