Sadara Chemical Reports SAR 1.62B Net Loss in Three Months 2026
Sadara Sukuk 2315.SA | 0.00 |
On 2026-05-13 08:01:08 (Saudi Time), Sadara Basic Services Company 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 | 1,780,789 | 2,484,124 | -28.313 | 2,480,142 | -28.198 |
| Gross Profit (Loss) | -751,666 | -476,572 | 57.723 | -709,935 | 5.878 |
| Operational Profit (Loss) | -878,438 | -593,786 | 47.938 | -891,078 | -1.418 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -1,621,069 | -1,290,605 | 25.605 | -1,659,069 | -2.29 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -1,593,095 | -1,456,944 | 9.344 | -1,674,050 | -4.835 |
| 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) | -9,774,821 | -3,519,355 | 177.744 |
| Profit (Loss) per Share | -0.44 | -0.36 | |
| 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 | - | - | |
| Accumulated Losses | -45,833,700 | 128.66 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 28.31% YoY to SAR 1,780.79 million primarily due to reduced sales volumes from unplanned operational events and extended maintenance activities that impacted product availability, combined with lower average selling prices across product portfolios. Net loss widened 25.61% to SAR 1,621.07 million, driven by the revenue decline, higher fixed costs associated with operational disruptions, and an unfavorable accounting adjustment related to debt modification.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 28.20% to SAR 1,780.79 million due to reduced sales volumes from unplanned operational events and extended maintenance activities that impacted finished product availability. Despite lower revenues, net loss improved 2.29% to SAR 1,621.07 million compared to the previous quarter, driven by lower fixed costs and favorable gains from precious metals lease roll-over and market revaluation impacts.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or qualifications noted. The company faces significant financial distress with accumulated losses of SAR 45,833,700 thousand representing 128.66% of share capital, and negative shareholders' equity of SAR 9,774,821 thousand. Management believes the Group will have sufficient funds to meet obligations within 12 months based on an approved business plan that assumes shareholder support will be available, and the financial statements were prepared on a going concern basis. The company complied with legal requirements for accumulated losses exceeding 50% of share capital by convening a General Assembly on March 16, 2026, where shareholders resolved to continue operations while taking necessary measures to address the losses.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95332&anCat=1&cs=2315&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.