Riyadh - Mubasher: Advanced Petrochemical Company incurred net losses valued at SAR 65 million for the nine-month period that ended on 30 September 2026, compared to a net profit of SAR 225 million a year earlier.
The company attributed the reversal to higher propane and propylene purchase prices, which rose by 8% and 6% respectively.
Results were further impacted by the inclusion of depreciation, fixed costs, and financing expenses following the commencement of commercial operations at Advanced Polyolefins Industry Company in late 2025.
Total revenues for the nine-month period reached SAR 2.88 billion, up 23.60% from SAR 2.33 billion a year earlier. This growth was driven by an 11% increase in sales volumes and an 11% rise in average selling prices.
For the third quarter (Q3) of 2026, the company recorded a net profit of SAR 4 million, a sharp 94.44% plunge from SAR 72 million in the corresponding quarter of 2025.
Quarterly sales fell by 4.32% to SAR 974 million as logistics challenges linked to geopolitical conditions caused sales volumes to drop 20%, despite a 12% increase in production.
Compared to Q2-26, the company returned to profitability from a net loss of SAR 98 million, supported by an 18% rise in revenues and a 31% decrease in propane prices.
