Riyadh – Mubasher: Saudi Kayan Petrochemical Company incurred net losses valued at SAR 775.78 million in the first quarter (Q1) of 2025, an annual increase of 35.65% from SAR 571.86 million.

Revenues climbed by 4.35% year-on-year (YoY) to SAR 2.06 billion in in the three-month period that ended on 31 March 2025 from SAR 1.97 billion, according to the financial statements.

Loss per share surged to SAR 0.52 in Q1-25 from SAR 0.38 during the same period in 2024.

Quarterly, the Q1-25 net losses hiked by 13.15% from SAR 685.61 million in Q4-24, whereas the revenues declined by 8.17% from SAR 2.24 billion.

Accumulated losses amounted to SAR 5 billion as of 31 March 2025, representing 33.35% of the company’s capital. This is higher than the SAR 4.51 billion accumulated losses registered at the end of December 2024.