Riyadh – Mubasher: National Industrialization Company (Tasnee) incurred net losses totaling SAR 889.10 million in the first half (H1) of 2026, compared to a net profit of SAR 830 million a year earlier.
The first-half revenue declined by 28.86% year-on-year (YoY) to SAR 875 million in H1-26 from SAR 1.22 billion.
Total shareholders’ equity, excluding non-controlling interests, stood at SAR 6.91 billion as of 30 June 2026, down 33.23% from SAR 10.35 billion a year earlier. Loss per share reached SAR 1.34.
For the second quarter (Q2) of 2026, the company posted a net loss of SAR 547.80 million, a significant increase from the SAR 65.80 million loss recorded in Q2-25. Quarterly sales fell by 34.68% to SAR 379.90 million.
Management attributed the downturn to lower sales volumes across most products, higher losses from joint ventures due to maintenance at the Saudi Ethylene and Polyethylene Company (SEPC), and asset impairment charges at subsidiaries SAMCO and ASIC.
The results were further impacted by non-cash deferred tax costs from associate Tronox Holdings and a decrease in financial income.
As of 31 March 2026, the group swung to net losses valued at SAR 341.30 million, against net profits of SAR 895.80 million in Q1-25.
