Sipchem narrows Q3 losses to 402 million riyals

Sipchem reported losses of 402 million riyals (SAR) during the third quarter of 2026, down from a loss of 469 million riyals in the same period last year, marking a 14% decrease. The company attributed the reduced losses to higher average selling prices for its products, which boosted revenues.

Additionally, the company did not repeat a 100 million riyal impairment loss related to the cash-generating unit of International Diol Company, a Sipchem subsidiary, nor the 91.40 million riyal provision resulting from the write-off of certain capital projects, both of which were recorded in the same quarter last year.

Operating losses stood at 178 million riyals in the third quarter, compared to a loss of 403 million riyals a year earlier, a 56% improvement. However, net loss for the current period reached 1.2 billion riyals, up from a loss of 443 million riyals in the corresponding period last year, representing a 173% increase.