Riyadh - Mubasher: Advanced Petrochemical Company suffered a preliminary net loss of SAR 98 million for the second quarter (Q2) of 2026, reversing a net profit of SAR 82 million recorded during the same period last year.
The company attributed the downturn to a 27% decline in production volumes during April and May 2026 caused by reduced propane feedstock supplies, according to the financial results.
Quarterly revenue rose by 18.48% to SAR 827 million, compared to SAR 698 million in the prior-year quarter, driven by a 34% increase in average sales prices.
However, the bottom line was pressured by a 40% surge in propane prices and a 21% rise in outsourced propylene costs.
Additionally, the company recognized SAR 20 million in one-time non-cash depreciation expenses after accelerating scheduled maintenance to coincide with the supply disruptions.
In the first half (H1) of 2026, the company posted a net loss of SAR 69 million when compared to a profit of SAR 153 million in H1-25. Revenue totaled SAR 1.91 billion, a 45.16% increase from SAR 1.31 billion.
Management noted that propane supplies and production rates returned to normal levels in June 2026, with facilities reaching full capacity.
During Q1-26, the group posted 58.33% year-on-year (YoY) lower net profits attributable to the owners at SAR 30 million compared to SAR 72 million.
