Saudi Amiantit Reports SAR 54.83M Net Loss in Three Months 2026
AMIANTIT 2160.SA | 0.00 |
On 2026-05-07 15:58:01 (Saudi Time), Saudi Arabian Amiantit 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 | 95,864 | 182,766 | -47.548 | 169,310 | -43.379 |
| Gross Profit (Loss) | -10,118 | 13,207 | - | -2,336 | 333.133 |
| Operational Profit (Loss) | -34,031 | -6,765 | 403.045 | -40,815 | -16.621 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -54,827 | 10,660 | - | -63,379 | -13.493 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -55,043 | 25,618 | - | -63,570 | -13.413 |
| 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) | 794,756 | 908,224 | -12.493 |
| Profit (Loss) per Share | -1.23 | 0.24 | |
| 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 47.548% YoY to SAR 95.86 million primarily due to a slowdown in demand from postponed projects and disrupted export sales caused by supply chain challenges. Net loss widened significantly to SAR 54.83 million compared to a profit of SAR 10.66 million in the prior year, driven by the substantial revenue decline, increased manufacturing costs from supply chain disruptions, and losses from investments in foreign companies.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 43.38% from 169.31 million to 95.86 million SAR, primarily driven by postponed projects and export sales disruption due to supply chain challenges. Net loss improved 13.49% from -63.38 million to -54.83 million SAR as the previous quarter included additional provisions for foreign investments related to the Poland factory closure due to the Ukrainian-Russian war.
Other Items
The auditor issued an unmodified conclusion with no additional comments. The company reported a net loss per share of SAR -1.23 for Q1 2026, calculated by dividing the net loss of SAR 54.8 million by 44,512,412 average shares. Total shareholders' equity decreased 12.493% to SAR 794,756 thousand compared to the previous year. The company expects the project deferrals to positively impact future sales.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95090&anCat=1&cs=2160&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.