Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) suffered a net loss of SAR 35.25 million for the second quarter (Q2) of 2026, representing an 89.54% reduction from SAR 337.03 million in Q2-25.
The narrowing of the loss was primarily driven by a 42% increase in average selling prices and management cost-optimization measures.
Quarterly revenue reached SAR 147.60 million, a slight decrease of 1.61% compared to SAR 150.02 million in the prior-year quarter.
Chemanol noted that while sales volumes fell by 31% due to regional logistics and supply chain challenges, it mitigated the impact by rerouting 67% of its international sales through alternative trade routes.
For the first half (H1) of 2026, the company reported a net loss of SAR 81.62 million, down 78.62% from SAR 381.70 million in H1-25. This improvement follows a one-time asset write-down of SAR 279.30 million involving subsidiaries during the previous year.
The company’s auditor issued a material uncertainty related to going concern, noting that accumulated losses reached SAR 632.92 million, or 94% of capital. Shareholders approved a capital reduction to SAR 150 million on 14 July 2026 to address the financial position.
