“Advanced” profits declined to 30 million riyals in the first quarter of 2026
The profits of the Advanced Petrochemical Company in the first quarter of 2026 declined by 58.3% to 30 million riyals, compared to 72 million riyals in the same quarter of last year.
According to the company’s statement on the website "Saudi Arabia trading"The decrease in net profit is mainly due to: recording depreciation expenses, fixed costs and financing costs in the income statement as a result of starting operations for the Advanced Polyolefins Company for Industry in the third quarter of 2025.
The decrease in net profit comes despite the increase in revenues by 76% and the decrease in propane prices by 14% and realizing a profit from the sale of the investment in an associate company after implementing a stock exchange deal with SK Gas Petrochemical Company Limited.
The increase in net profit on a quarterly basis is due to: a decrease in financing expenses by 11% and distribution, selling, and general and administrative expenses by 19%.
The reasons included: realizing a profit from selling the investment in an associated company after implementing a stock exchange deal with SK Gas Petrochemical Company. Ltd.
The increase in net profit comes despite a decrease in revenues by 8% and an increase in the prices of propane and propylene by 11% and 13%, respectively.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
