Saudi Arabia Refineries Posts SAR 4.98M Net Loss in the Six Months 2026
SARCO 2030.SA | 0.00 |
On 2026-08-11 15:54:37 (Saudi Time), Saudi Arabia Refineries Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | -8,142,305 | -22,308,139 | -63.5 | 9,457,874 | - |
| Gross Profit (Loss) | -8,142,305 | -22,308,139 | -63.5 | 9,457,874 | - |
| Operational Profit (Loss) | -10,234,506 | -23,835,958 | -57.062 | 6,988,999 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -10,702,352 | -25,797,930 | -58.514 | 5,724,239 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -10,702,352 | -25,797,930 | -58.514 | 5,724,239 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,315,569 | -15,561,243 | - |
| Gross Profit (Loss) | 1,315,569 | -15,561,243 | - |
| Operational Profit (Loss) | -3,245,507 | -19,902,607 | -83.693 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -4,978,113 | -23,717,424 | -79.01 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -4,978,113 | -23,717,424 | -79.01 |
| Total Shareholders Equity (after Deducting Minority Equity) | 278,333,346 | 319,751,897 | -12.953 |
| Profit (Loss) per Share | -0.33 | -1.58 | |
| All figures are in (Actual) 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 (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Sales/Revenue improved significantly YoY, shifting from a loss of SAR -15,561,243 (SAR -15.56 million) in the prior period to SAR 1,315,569 (SAR 1.32 million) in the current period, primarily driven by a decrease in unrealized losses resulting from an increase in the market value of the company's investment portfolio, as well as an increase in the company's share of profits from investments in associates. Net loss attributable to shareholders narrowed by 79.01% YoY from SAR -23,717,424 (SAR -23.72 million) to SAR -4,978,113 (SAR -4.98 million), supported by the reduction in investment portfolio losses, a decrease in the Zakat provision, and an increase in other income during the current period.
Quarter-on-Quarter Performance Drivers
QoQ, revenue swung from a profit of SAR 9.46(currency not specified in original) (SAR 9,457,874 Actual ÷ 1,000,000 = SAR 9.46 million) to a loss of SAR -8.14 million (-8,142,305 ÷ 1,000,000), driven primarily by a surge in unrealized losses resulting from a decline in the market value of the company's investment portfolio. Net profit similarly reversed from SAR 5.72 million (5,724,239 ÷ 1,000,000) to a net loss of SAR -10.70 million (-10,702,352 ÷ 1,000,000), also dominated by the increase in unrealized investment losses. Partially offsetting these negative impacts were higher dividend income from the investment portfolio, an increased share of profits from associates, lower operating expenses, and a reduced Zakat provision.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, reservations, or other matters noted. Total shareholders' equity (after deducting minority equity) stood at SAR 278,333,346 for the current period, compared to SAR 319,751,897 in the same period of the prior year, representing a decline of 12.953%. Loss per share for the current six-month period was SAR -0.33, compared to SAR -1.58 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=97542&anCat=1&cs=2030&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.