Saudi Kayan Petrochemical Company’s net loss narrowed 72 percent to SR94.2 million ($25.1 million) in the third quarter, from SR336.3 million a year earlier, as higher selling prices and cost cuts offset lower sales volumes.
The Jubail-based company, a SABIC affiliate, disclosed the results in a filing on the Saudi Exchange on Wednesday. The loss was also sharply lower than the SR672.8 million it reported in the second quarter.
Revenue rose 1.6 percent from a year earlier to SR2.19 billion in the three months to September 30, and was up 8.9 percent from the previous quarter.
Saudi Kayan returned to a gross profit of SR195.4 million, compared with a gross loss of SR88.1 million a year earlier. It posted an operating profit of SR52.1 million, against an operating loss of SR163.1 million.
The company said a review of its accounting estimates for spare parts led to a partial reversal of a provision of SR129 million, which lifted third-quarter results.
Higher prices for some production inputs and a drop in quantities sold because of supply chain challenges partly offset the gains, it said.
For the first nine months of 2026, the net loss narrowed 14.1 percent to SR1.38 billion from SR1.61 billion. Revenue fell 11.8 percent to SR5.68 billion, which the company attributed to lower volumes and higher logistics costs linked to supply chain disruption.
Accumulated losses stood at SR7.28 billion at the end of September, equal to 48.5 percent of the company’s capital, the filing showed.
Shareholders’ equity fell 20.5 percent from a year earlier to SR7.86 billion.
Saudi Kayan said it is working to improve plant reliability, reduce operating costs and use the kingdom’s integrated supply chain infrastructure to keep operations running.
