Kiayen cuts Q3 loss to 94.2 M riyals
Saudi Kayan Petrochemical Company reduced its net losses in the third quarter of 2026 by 72% year-on-year, reaching a loss of 94.2 million SAR compared to 336.25 million SAR in the same quarter of the previous year. This improvement was driven by higher product selling prices, lower operating costs, and the reversal of part of the spare parts provisions. Despite a decline in sales volume due to supply chain challenges, revenues increased to 2.187 billion SAR, up by 1.63% compared to the previous year. The company's financial performance for the first nine months showed total profits of 1.38 billion SAR, a decrease of 14.10% from the same period last year. The main reason for the improvement in quarterly losses was higher selling prices and the reversal of some provisions, although challenges related to sales volumes and input prices continued.
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