On 2026-07-21 16:47:18 (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 ending 30 June 2026, sales/revenue increased 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, alongside a 6% rise in netback prices, despite production losses in Q2 2026 due to lower Propane supply in April and May 2026. Net profit attributable to shareholders swung to a loss of SAR 69 million from a profit of SAR 153 million in H1 2025, 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 which were not charged to the income statement in H1 2025, with the net loss recorded despite the 45% increase in net revenues. Additionally, a non-recurring charge of SAR 20 million for accelerated depreciation was recognized in Q2 2026 following the advancement of the planned turnaround maintenance schedule.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 23.354% to SAR 827 million (from 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 rise in propane and propylene purchase prices of 46% and 15% respectively. Additionally, a non-recurring charge of SAR 20 million for accelerated depreciation was recognized in Q2 2026, further weighing on the bottom line.

Other Items

The external auditor issued an unmodified conclusion with no additional comments or reservations noted. No accumulated losses were reported. Total shareholders' equity (after deducting minority equity) stood at SAR 2,889 million as of the current period, compared to SAR 3,006 million in the same period of the prior year, a decline of 3.892%. Loss per share for the current period was SAR -0.264, compared to SAR 0.593 in the same period of the prior year. The company noted that feedstock supply and production volumes are gradually returning to normal levels commencing from June 2026.

Original announcement:

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