Sipchem Reports SAR 807.20M Net Loss in the Six Months 2026
SIPCHEM 2310.SA | 0.00 |
On 2026-07-22 08:51:18 (Saudi Time), Sahara International Petrochemical Company (Sipchem) 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 | 860.9 | 1,906.3 | -54.839 | 1,227.1 | -29.842 |
| Gross Profit (Loss) | -25.9 | 293.2 | - | 78 | - |
| Operational Profit (Loss) | -187.1 | 86.6 | - | -68.7 | 172.343 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -591.9 | -169.2 | 249.822 | -215.3 | 174.918 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -593.8 | -175.8 | 237.77 | -215.8 | 175.162 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 2,088 | 3,876.1 | -46.131 |
| Gross Profit (Loss) | 52.1 | 452.7 | -88.491 |
| Operational Profit (Loss) | -255.8 | 31 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -807.2 | 26.1 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -809.7 | 13.1 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 12,821.3 | 14,890.1 | -13.893 |
| Profit (Loss) per Share | -1.11 | 0.04 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ended 30 June 2026, Sipchem's sales/revenue declined 46.131% YoY to SAR 2,088 million (from SAR 3,876.1 million), primarily driven by lower sales volumes due to ongoing supply chain challenges that led to the accumulation of unsold inventory, despite a slight increase in average selling prices. The company swung to a net loss of SAR 807.2 million from a net profit of SAR 26.1 million in the same period last year, as compressed margins were further pressured by rising feedstock costs (Ethylene & Propane), an increased share of losses from equity-accounted investees due to plant turnaround activities at an associate, and an impairment on investment in an associate amounting to SAR 328 million.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 29.842% to SAR 860.9 million (from SAR 1,227.1 million in the previous quarter), driven by lower sales volumes amid ongoing supply chain challenges that led to unsold inventory accumulation, despite higher average selling prices. The net loss attributable to shareholders deepened 174.918% to SAR 591.9 million (from SAR 215.3 million), primarily due to the same volume and supply chain pressures, rising feedstock costs (Butane, Ethylene & Propane), and a significant impairment on investment in an associate amounting to SAR 328 million, which substantially increased the share of loss from equity-accounted investees.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96928&anCat=1&cs=2310&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.