National Metal Manufacturing Posts SAR 5.69M Net Loss in Three Months 2026
MAADANIYAH 2220.SA | 0.00 |
On 2026-05-07 15:52:27 (Saudi Time), National Metal Manufacturing and Casting 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 | 49.58 | 70.14 | -29.312 | 59.77 | -17.048 |
| Gross Profit (Loss) | 3.13 | 5.81 | -46.127 | 2.17 | 44.239 |
| Operational Profit (Loss) | -4.61 | -1.8 | 156.111 | -7.3 | -36.849 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -5.69 | -3.19 | 78.369 | -8.05 | -29.316 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -5.69 | -3.19 | 78.369 | -5.63 | 1.065 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 219.92 | 242.28 | -9.228 |
| Profit (Loss) per Share | -0.16 | -0.09 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | 134.08 | 37.88 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 29.312% YoY to SAR 49.58 million, primarily driven by a 37% decline in drawn wire products due to weakened domestic and export market demand for specific sizes, compounded by supply chain disruptions from geopolitical events that delayed critical raw material arrivals. Net loss widened by 78.369% to SAR 5.69 million compared to SAR 3.19 million in the prior year, resulting from decreased sales and increased general and administrative expenses. Additionally, sales of axles and casting products decreased by approximately 10%, further contributing to the overall revenue decline.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 17.048% to 49.58 million, primarily driven by a 34% drop in drawn wire product sales due to weakened domestic and export demand, compounded by supply chain disruptions from regional geopolitical events that delayed critical raw material arrivals. Net loss improved by 29.316% to -5.69 million despite lower sales, attributed to higher average selling prices, reduced cost of sales, and decreased selling, distribution, and administrative expenses.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or qualifications noted. Accumulated losses reached SAR 134.08 million, representing 37.88% of the company's paid-up capital of SAR 354 million. The company stated that it became aware accumulated losses reached 35% or more of paid-up capital upon closing 2025 financial statements and will apply procedures applicable to Saudi-listed companies whose accumulated losses reach 20% or more of capital. Total shareholders equity decreased 9.228% to SAR 219.92 million compared to the prior year period. The board has planned a 2026 strategy including company restructuring, operational efficiency improvements, income increases through declared projects, and employing qualified personnel to address the losses.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95085&anCat=1&cs=2220&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.