Alujain Corp Reports SAR 12.17M Net Profit in Three Months 2026
ALUJAIN 2170.SA | 0.00 |
On 2026-05-03 15:31:07 (Saudi Time), Alujain Corp. 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 | 365.49 | 267.66 | 36.55 | 326.84 | 11.825 |
| Gross Profit (Loss) | 39.01 | -13.05 | - | -98.21 | - |
| Operational Profit (Loss) | 12.34 | -41.48 | - | -1,320.92 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 12.17 | -17.23 | - | -845.44 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 12.17 | -17.23 | - | -841.33 | - |
| 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) | 2,467.96 | 3,475.91 | -28.998 |
| Profit (Loss) per Share | 0.18 | -0.25 | |
| 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 | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 36.55% YoY to SAR 365.49 million, driven by higher sales volumes of polypropylene and specialties polypropylene products despite a 23-day planned shutdown at Natpet for routine maintenance. The company shifted from a net loss of SAR 17.23 million in the prior year to a net profit of SAR 12.17 million, primarily due to the 37% revenue increase and improved profit margins on polypropylene and specialties products.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 11.825% to 365.49 million SAR, driven by a 5% increase in sales quantity and improved product prices in March 2026. Net profit turned positive at 12.17 million SAR compared to a loss of 845.44 million SAR in the previous quarter, primarily due to the absence of the prior quarter's one-time impairment loss of 851 million SAR on Natpet's goodwill and property, plant, and equipment. Additionally, improved netback margins for polypropylene and specialties polypropylene products contributed to the profitability turnaround.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total shareholders equity decreased 28.998% year-over-year to SAR 2,467.96 million, primarily attributed to the recognition of a one-time impairment loss of SAR 1,309 million on Natpet's goodwill and property, plant, and equipment during Q4 2025. The company has invested over SAR 1.1 billion in its new project through Q1 2026 with more than SAR 800 million committed for main equipment purchases, while substantial progress has been made on securing project financing. Earnings per share improved from -0.25 to 0.18, and the company expects the March 2026 price improvements to continue in the short term due to current petrochemical market volatility.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94896&anCat=1&cs=2170&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/1063_397_2026-05-03_14-57-42_en.pdfImportant 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.