Middle East Paper Reports SAR 1.99M Net Loss in Q1 2026
MEPCO 1202.SA | 0.00 |
On 2026-05-07 08:01:49 (Saudi Time), Middle East Paper 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 | 244,292 | 259,090 | -5.711 | 247,333 | -1.229 |
| Gross Profit (Loss) | 26,609 | 33,947 | -21.616 | 26,252 | 1.359 |
| Operational Profit (Loss) | 4,771 | 13,231 | -63.94 | 2,752 | 73.364 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -1,994 | 5,331 | - | -1,456 | 36.95 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -1,994 | 5,331 | - | -3,669 | -45.652 |
| 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) | 1,626,175 | 1,611,647 | 0.901 |
| Profit (Loss) per Share | 0.06 | -0.02 | |
| 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 declined 5.71% YoY to SAR 244.29 million primarily due to lower average selling prices despite improved sales volume. The company shifted from a net profit of SAR 5.33 million in the prior year to a net loss of SAR 1.99 million, driven by reduced revenue and gross profit, along with higher impairment losses on financial assets. This negative impact was partially offset by decreased operating expenses, finance costs, and zakat expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 1.23% to 244.29 million due to lower average selling prices despite improved sales volume. Net loss deepened by 36.95% to -1.99 million, primarily driven by higher impairment losses on financial assets, lower other operating income, and decreased finance income.
Other Items
Auditors issued an unmodified conclusion with an emphasis of matter paragraph regarding Note 10(b), which describes an advance payment made by the Group in prior years to acquire land through public auction. As of March 31, 2026, while legal ownership is not disputed, administrative and procedural steps to complete the title deed transfer remain ongoing. Total shareholders equity increased 0.901% to SAR 1,626,175 thousand. Earnings per share improved from -0.02 to 0.06 compared to the similar period last year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95050&anCat=1&cs=1202&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/8295_642_2026-05-06_21-01-49_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.