Latest news with #SaudiKayan
Zawya
6 days ago
- Business
- Zawya
Saudi Kayan's accumulated losses hit 35.5% of capital
Riyadh: Saudi Kayan Petrochemical Company reported accumulated losses of SAR 5.33 billion, equivalent to 35.59% of its SAR 15 billion share capital, according to unaudited financial results for May 2025. The losses were attributed to declining profit margins, driven by a drop in average product prices amid sluggish global economic growth and rising input costs. The Tadawul-listed company is working to boost production efficiency and cut operational costs through a series of ongoing initiatives aimed at enhancing financial performance. Meanwhile, the group will adhere to the Capital Market Authority (CMA) regulations for firms with losses exceeding 20% of capital. In the first three months (3M) of 2025, Saudi Kayan suffered 35.65% higher net losses at SAR 775.78 million, compared with SAR 571.86 million in the same period a year earlier.
Argaam
7 days ago
- Business
- Argaam
Saudi Kayan says accumulated losses reach 35.59% of capital
Saudi Kayan Petrochemical Co. announced that its accumulated losses reached 35.59% of its capital of SAR 15,000 million, based on the unaudited financial results for May 2025, which were closed on June 15, 2025. In a statement on Tadawul, the company said that the amount of accumulated losses reached SAR 5,338.5 million, explaining that the main reasons behind these losses are the decline in profit margins due to lower average product prices, which were impacted by the slowdown in global economic growth and the increase in input costs. Kayan refinanced on March 16, its Islamic Murabaha loans, amounting to SAR 8.1 billion, with several local banks. The refinancing agreement involved replacing the existing debt with new financing. This agreement is aimed at achieving several strategic goals, most notably sustainable financial planning by maximizing cash liquidity, strengthening the financial position, and providing greater financial flexibility. This will also contribute to improving financial solvency, thereby enhancing returns for shareholders. The company will continue working on improving production efficiency and reducing costs through the initiatives and programs that have been approved. These efforts will help lower expenses and increase revenues in order to achieve the company's objectives and strategies. Procedures and instructions applicable on companies listed in Saudi capital market whose accumulated losses reach 20% or more out of the capital will apply, the statement added.
Zawya
21-02-2025
- Business
- Zawya
Saudi Kayan's 2024 net losses shrink 15.5% amid higher revenue in 2024; accumulated losses decline
Riyadh – Saudi Kayan Petrochemical Company reported a 15.57% decrease in net loss to SAR 1.80 billion in 2024 from SAR 2.13 billion in 2023, according to the income statement. The revenue grew by 6.80% year-on-year (YoY) to SAR 8.72 billion in 2024, compared to SAR 8.17 billion. Moreover, the loss per share declined to SAR 1.20 in 2024 from SAR 1.42 in 2023. Accumulated Losses As of 31 December 2024, the company's accumulated losses reached SAR 4.51 billion, representing 30.10% of the SAR 15 billion capital. During the first nine months (9M) of 2024, Saudi Kayan posted net losses of SAR 1.11 billion, down 26.16% from SAR 1.51 billion in the same period of 2023. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
