On 2026-08-11 15:39:01 (Saudi Time), Sukuk Sadara(2315.SA) 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 49.639% YoY to SAR 2,559.80 million (from SAR 5,082.99 million), primarily driven by a reduction in sales volumes resulting from a temporary shutdown of production that impacted the availability of finished products, despite the Company experiencing higher average sales prices and noticeable margin expansion across different product portfolios. Net loss attributable to shareholders widened by 39.375% YoY to SAR 3,530.89 million (from SAR 2,533.36 million), mainly due to lower sales volumes and an unfavorable impact on other income/(loss) from asset write-off provisions, compounded by the absence in the current period of a favorable feedstock contractual reconciliation gain that had been recognized in the same period of the prior year.

Quarter-on-Quarter Performance Drivers

QoQ revenue fell 56.255% to SAR 779.01 million (converted from SAR 779,006 thousands) in Q2 2026, driven primarily by a sharp reduction in sales volumes resulting from a temporary production shutdown that curtailed finished product availability, despite higher average sales prices and margin expansion across product portfolios. The net loss widened by 17.812% QoQ to SAR 1,909.82 million (converted from SAR 1,909,823 thousands), mainly due to the lower sales volumes and an unfavorable impact on other gain/(loss) stemming from asset write-off provisions.

Other Items

Sadara Chemical Company's interim financial statements for the six-month period ending June 30, 2026 received an unmodified conclusion from the external auditor, with no additional comments noted in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Accumulated losses stood at SAR 47,636,668 thousand, representing 133.72% of share capital, and total shareholders' equity (after deducting minority equity) was negative at SAR -11,498,639 thousand as of the current period, compared to SAR -8,181,726 thousand in the same period of the prior year. The announcement notes that "the Group has a net loss attributable to shareholders of SAR 3.53 billion for six-month period ending on June 30, 2026, and the Company's accumulated losses exceeded 100% of its share capital as of that date." Regarding going concern, Group management states, based on Sadara Chemical Company's approved business plan and the assumptions therein, that "the Group will have sufficient funds available to meet its obligations as they become due within the 12-month period from the date of approval of these consolidated financial statements," with the business plan assuming "that a form of shareholder support will be available," and accordingly the financial statements have been prepared on a going concern basis. The Company also confirms it has complied with all legal requirements arising from accumulated losses exceeding 50% of share capital, including convening a General Assembly on March 16, 2026, during which shareholders resolved to continue the Company and take necessary measures to address such losses. Loss per share for the current period was SAR -0.99, compared to SAR -0.71 in the same period of the prior year.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97532&anCat=1&cs=2315&locale=ar

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