Business · Companies · 8 hrs ago
Advanced Petrochemical’s third-quarter profit falls 94% to 4 million riyals
Advanced Petrochemical, a Saudi company that makes polypropylene, reported a profit of 4 million riyals in the third quarter, down 94% from a year earlier.
It had made its first quarterly loss in five quarters in the second quarter.
Third-quarter revenue fell 4%, while the price of propane, a key raw material, rose 8%.
Sales volumes were down 20% from a year earlier, raising the cost of each unit sold, and costs also increased as a new factory began operating.
Geopolitical tensions affected shipments, prompting the company to use new routes through Dammam and Turkey.
Still, average net product prices rose 20%, production increased 127% from the previous quarter, and sales volumes rose 40%.
The company said 70% of its output had been sold, and revenue from goods shipped but still in transit was expected to be recorded in the fourth quarter.
Advanced Petrochemical’s third-quarter profit fell 94% year on year to 4 million riyals.
The company returned to profit after reporting a loss in the second quarter.
Revenue fell 4%, while propane prices, a key raw material, rose 8%.
Sales volume declined 20%, though the average net price of its products increased 20%.
The company said production rose 127% from the previous quarter, and sales volume increased 40%.
- Who
- Advanced Petrochemical, a Saudi producer of propylene and polypropylene.
- What
- Its third-quarter profit fell 94% year on year to 4 million riyals.
- When
- The third quarter; the article was published on October 11, 2026.
- Where
- Saudi Arabia. The company exports its products to several regions.
- Why
- Lower revenue and higher propane prices put pressure on earnings, along with depreciation, fixed and financing costs.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Advanced Petrochemical reported its first loss after five consecutive quarters of profit.
The company returned to profit, recording 4 million riyals as profit fell 94% year on year.
The company recorded its largest monthly sales volume in its history.
- Third-quarter profit
- 4 million riyals
- Year-on-year profit decline
- 94%
- Revenue change
- Down 4%
- Propane price change
- Up 8%
- Sales volume change
- Down 20%
- Production change
- Up 127% from the previous quarter
Sources
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