AMAK Reports SAR 60.10M Net Profit in Three Months 2026
AMAK 1322.SA | 0.00 |
On 2026-04-29 09:27:37 (Saudi Time), Almasane Alkobra Mining Co. 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 | 218,408,727 | 219,772,398 | -0.62 | 276,690,758 | -21.063 |
| Gross Profit (Loss) | 87,805,151 | 83,954,464 | 4.586 | 119,286,290 | -26.391 |
| Operational Profit (Loss) | 72,144,147 | 68,115,042 | 5.915 | 103,492,211 | -30.29 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 60,104,048 | 55,239,651 | 8.805 | 70,940,977 | -15.275 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 60,282,918 | 53,742,123 | 12.17 | 70,268,271 | -14.21 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,386,158,132 | 1,210,117,534 | 14.547 |
| Profit (Loss) per Share | 0.68 | 0.62 | |
| All figures are in (Actual) 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 (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales remained relatively stable with only a 0.62% YoY decline to SAR 218.41 million, primarily due to lower copper and zinc sales volumes following the temporary suspension of the Al Masane process plant in January 2026, despite improved metal prices. Net profit increased 8.805% YoY to SAR 60.10 million, driven by a SAR 3.85 million improvement in gross profit from reduced direct costs, which more than offset higher financing expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 21.06% to 218.41 million due to lower sales volumes of copper, zinc, and gold following the temporary suspension of Al Masane process plant announced on January 22, 2026, despite higher gold prices. Net profit decreased 15.28% to 60.10 million, primarily driven by lower gross profit of 31 million and higher selling and marketing expenses, partially offset by lower general and administrative expenses and reduced income tax.
Other Items
Almasane Alkobra Mining Co. received an unmodified auditor conclusion for Q1 2026 interim results. No accumulated losses were reported. The company reported revenue of SAR 218,408,727 with net profit of SAR 60,104,048, representing earnings per share of SAR 0.68 calculated on 88,560,562 weighted average shares outstanding. Total shareholders equity increased 14.547% to SAR 1,386,158,132. The Al Masane process plant remains temporarily suspended as announced on January 22, 2026, as part of the company's 2026 business plan to optimize longer-term ore production from the Saadah, Al Houra and Moyeath orebodies.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94771&anCat=1&cs=1322&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.