Riyadh – Mubasher: Saudi Arabian Amiantit Company suffered net losses valued at SAR 122.96 million for the first half (H1) of 2026, a sharp increase from the SAR 9.60 million during the same period in 2025.
The company attributed the widening loss to a 51.64% decline in revenue, which fell to SAR 169.74 million from SAR 351 million a year earlier.
Management cited slowing demand and the postponement of several projects as primary drivers for the revenue drop.
Operations were further pressured by logistical challenges and supply chain disruptions in the region, which impacted raw material imports and sales deliveries.
Geopolitical conditions also contributed to higher raw material costs and losses from investments in foreign companies.
For the second quarter (Q2) of 2026, the company posted a net loss of SAR 68.13 million, representing a 235.99% increase compared to the SAR 20.28 million loss in Q2-25. Quarterly revenue decreased by 56.09% to SAR 73.87 million.
Loss per share for the six-month period stood at SAR 2.76, compared to SAR 0.22 in the previous year.
Total shareholders' equity, excluding non-controlling interests, declined by 20.62% to SAR 724.95 million.
