On 2026-08-06 15:48:26 (Saudi Time), Saudi Arabian Amiantit Co. 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 June 30, 2026, sales/revenue declined 51.641% YoY to SAR 169.74 million (from SAR 351.00 million), primarily driven by a slowdown in demand due to the postponement of certain projects and disruptions to sales and raw material imports caused by supply chain and logistics challenges in the region. The net loss attributable to shareholders widened significantly by 1,178.425% YoY to SAR 122.96 million (from SAR 9.62 million), largely attributable to the sharp revenue decline, higher raw material costs stemming from supply chain disruptions caused by geopolitical conditions, and losses arising from investments in foreign companies.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 22.938% to SAR 73.87 million (from SAR 95.86 million in the previous quarter), driven by a continued slowdown in demand due to postponement of certain projects and supply chain and logistics disruptions affecting sales and raw material imports. The net loss attributable to shareholders widened 24.267% QoQ to SAR 68.13 million (from SAR 54.83 million), primarily due to the continued revenue decline, higher raw material costs stemming from geopolitical-driven supply chain disruptions, and losses arising from investments in foreign companies.

Other Items

The external auditor issued an unmodified conclusion on the interim financial results for the six-month period ending June 30, 2026, with no additional comments noted in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders' equity (after deducting minority equity) stood at SAR 724,945 thousand as of the current period, compared to SAR 913,305 thousand in the same period of the prior year, representing a decline of 20.623%. The loss per share for the six-month period ending June 30, 2026, was SAR (2.76), calculated by dividing the net loss attributable to shareholders of SAR (122.96) million by the average number of shares of 44,512,412, compared to a loss per share of SAR (0.22) for the same period of the prior year, based on a net loss of SAR (9.6) million and the same average share count; earnings per share were computed in accordance with International Accounting Standard 33 "Earnings per Share," based on 44,550,000 shares adjusted by deducting 37,588 shares from the employee share option plan. Total comprehensive income attributable to shareholders of the issuer was SAR (124,854) thousand for the current period, compared to SAR 30,699 thousand in the same period of the prior year.

Original announcement:

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