On 2026-08-02 08:10:10 (Saudi Time), Alujain Corp. 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, Alujain Corp. reported Sales/Revenue of SAR 872.15 million, up 58.339% YoY from SAR 550.81 million, driven primarily by higher sold quantities and increased sales prices. Net profit attributable to shareholders turned around to SAR 104.05 million from a net loss of SAR 4.8 million in the same period last year, with the key drivers being the 60% increase in revenue and a higher share of joint venture profit from Natpet Schulman ("NSSPC"), the PP compounding plant. The improvement in product prices in Q2 2026, partly attributed to the current geopolitical situation, further contributed positively to operating performance, as reflected in gross profit surging to SAR 180.94 million from SAR 2.13 million and operational profit recovering to SAR 135.43 million from an operational loss of SAR 40.2 million in the prior-year period.

Quarter-on-Quarter Performance Drivers

QoQ revenue surged 64.047% to SAR 541.85 million (vs. SAR 330.3 million in the previous quarter), driven by higher sold quantities and a 60% increase in sales prices, partly supported by favorable geopolitical conditions. Net profit attributable to shareholders rose 654.889% to SAR 91.87 million (vs. SAR 12.17 million in the previous quarter), primarily due to the strong revenue growth and an increased share of joint venture profit from Natpet Schulman ("NSSPC"), the PP compounding plant.

Other Items

Alujain Corp.'s external auditor issued an unmodified conclusion with no additional comments, qualifications, or adverse opinions noted. Total shareholders' equity (after deducting minority equity) stood at SAR 2,559.84 million as of the current period, compared to SAR 3,384.53 million in the same period of the prior year, a decline of 24.366%, which the company attributed to a one-time impairment loss of SAR 1,309 million on goodwill and property, plant, and equipment of Natpet recognized during the fourth quarter of 2025. Earnings per share for the current six-month period were SAR 1.5, compared to a loss per share of SAR 0.07 in the same period last year. Certain comparative figures have been reclassified and restated to conform to the current period presentation. On the strategic front, the company disclosed that more than SAR 1.27 billion have been invested in its new project (Natpet-2) up to the end of Q2 2026, with more than SAR 800 million committed to purchasing main long lead equipment, and noted that significant progress has been made on both construction and project financing. Additionally, Infrastructure Reinforcement Industrial Company ("IRIC") was classified as a disposal group held for sale in Q2 2026 in connection with a planned joint venture with Belgian partner Beaulieu Fibres International N.V. ("BFI"), with no impairment recognized, as announced on the Tadawul website on 21 July 2026.

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