Riyadh – Mubasher: National Gypsum Company reported a net loss of SAR 6.89 million for the first half (H1) of 2026, representing an annual increase of 169.14% from SAR 2.56 million.
The company attributed the deeper loss to rising production input costs and the incomplete absorption of fixed costs at its new Riyadh production line, which is still in its operational ramp-up phase.
Revenues for the six months rose to SAR 43.08 million, up from SAR 32.93 million a year earlier.
For the second quarter (Q2) of 2026, the company posted a net loss of SAR 4.03 million, a 34.33% increase from the SAR 3 million loss in the corresponding quarter of 2025.
Quarterly sales grew 46.07% to SAR 23.62 million as gypsum board sales expanded following the commissioning of the Riyadh facility.
The external auditor issued a qualified opinion, noting an inability to obtain sufficient evidence regarding the recoverable value of property, plant, and equipment.
Separately, the company utilized its entire statutory reserve of SAR 95 million to extinguish accumulated losses, which now stand at SAR 699,494, or 0.22% of capital.
Total shareholders' equity increased to SAR 547.49 million following a change in accounting policy for land measurement.
Earlier this month, the company said it failed to publish its financial statements for the period ending 30 June 2026 within the legally prescribed timeframe.
