Methanol Chemicals Company (Chemanol) said its net loss attributable to shareholders narrowed 11.97% from a year earlier to SR41.35 million in the third quarter of 2026, from SR46.97 million.
The Saudi methanol and formaldehyde producer attributed the improvement mainly to a 29% rise in average selling prices and cost optimization initiatives, according to its preliminary results on the Saudi Exchange on Tuesday, Mubasher reported.
The gains were partly offset by a sharp increase in logistics costs, particularly transport, shipping and insurance, which rose about 140% amid market volatility, supply chain disruption and pressure on major shipping routes, the company said.
Revenue rose 3.42% to SR160.11 million in the quarter. Compared with the previous quarter, the loss widened 17.30% from SR35.25 million.
For the first nine months, the net loss narrowed 71.31% to SR122.96 million from SR428.67 million. The year-earlier period included impairment losses on the assets of subsidiaries Al Dar Chemicals and International Chemical Industries, of which the parent’s share was SR279.3 million.
Nine-month revenue fell 8.07% to SR432.45 million as sales volumes dropped 24%, despite higher average prices.
The company rerouted a large part of its international sales, which make up 67% of the annual total, through alternative trade routes to maintain supplies, Al Eqtisadiah reported. It said accumulated losses stood at SR96.4 million at the end of the quarter, equal to 64.2% of its capital.
