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Yansab profits surge 482% due to allowances
Net profits of Yanbu National Petrochemical Company ("Yansab") jumped by 481.5% in the second quarter of 2026, reaching 259 million SAR compared to 44.5 million SAR in the same period last year. This increase is attributed to recording provisions of 104 million SAR, higher average selling prices across all products, and the company's achievement of high levels of reliability and operational efficiency, despite rising input costs. The company's profits had declined by over 81% last year due to falling selling prices. The company is 51% owned by Saudi Basic Industries Corporation ("SABIC"), and it operates in producing petrochemical materials such as ethylene and propylene. Its current market value is approximately 17.6 billion SAR.
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