Maaden Reports SAR 1,635.81M Net Profit in Three Months 2026
MAADEN 1211.SA | 0.00 |
On 2026-05-03 16:20:33 (Saudi Time), Saudi Arabian Mining Company (Maaden) 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 | 8,786,554 | 8,510,914 | 3.238 | 10,639,726 | -17.417 |
| Gross Profit (Loss) | 3,125,031 | 3,191,369 | -2.078 | 4,119,174 | -24.134 |
| Operational Profit (Loss) | 2,533,330 | 2,280,260 | 11.098 | 2,576,186 | -1.663 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 1,635,810 | 1,549,962 | 5.538 | 1,670,949 | -2.102 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,462,575 | 954,918 | 53.162 | 1,772,957 | -17.506 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 63,070,721 | 53,273,496 | 18.39 |
| Profit (Loss) per Share | 0.42 | 0.41 | |
| All figures are in (Thousands) 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 (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 3.238% YoY to SAR 8.79 million, driven by higher commodity market prices across all business units, though partially offset by lower sales volumes in phosphate and aluminum segments due to logistics challenges. Net profit rose 5.538% YoY to SAR 1.64 million, primarily supported by favorable pricing conditions and one-off insurance proceeds of SAR 375 million in the phosphate business unit, along with reduced finance costs. The profit growth occurred despite a 2.078% decline in gross profit, which was impacted by higher cost of sales from reduced volumes and increased operating expenses related to exploration activities.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 17.42% to SAR 8,786.55 million due to lower sales volumes across all business units from ongoing logistics and market flow challenges, partially offset by higher aluminum and gold prices. Net profit decreased modestly by 2.10% to SAR 1,635.81 million, primarily reflecting a 24.13% drop in gross profit from reduced volumes. The profit decline was mitigated by lower operating expenses, one-off insurance proceeds of SAR 375 million in phosphates, reduced finance costs, and absence of prior quarter's SAR 381 million credit loss allowance and SAR 624 million deferred severance expense in aluminum operations.
Other Items
The auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total shareholders equity increased 18.39% to SAR 63,070,721 thousand compared to the prior year period. Earnings per share improved to SAR 0.42 from SAR 0.41 in the same quarter last year. The company revised its financial presentation basis effective March 31, 2026, with all amounts now presented in thousands of Saudi Riyals. No accumulated losses or material uncertainties regarding going concern were reported in this interim financial statement.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94900&anCat=1&cs=1211&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/17552_370_2026-05-03_16-12-39_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.