National Industrialization Company (2060) Q3 2025 earnings summary

Executive summary

• Interim results for the three and nine months ended 30 September 2025 show a significant turnaround, with a net profit of SR 1,022.6 million for the nine-month period, compared to SR 92.0 million in the prior year, mainly due to a one-time gain on debt restructuring.

• The period included the completion of the SAMCO acquisition and the full repayment of the Tronox loan, further integrating the Group's acrylic business and strengthening its financial position.

Financial highlights

• Revenue for the nine months was SR 2,531.2 million, down from SR 2,797.7 million year-over-year.

• Gross profit for the nine months was SR 238.6 million, compared to SR 221.3 million in the prior year.

• Net profit for the nine months reached SR 1,022.6 million, up from SR 92.0 million, driven by a SR 2,028.9 million gain on debt restructuring.

• Basic and diluted EPS for the nine months was SR 0.41, compared to SR 0.10 in the prior year.

• Net cash used in operating activities was SR 275.1 million, while investing activities generated SR 329.3 million and financing activities used SR 1,602.2 million.

Outlook and guidance

• Management expects continued integration benefits from the SAMCO acquisition and ongoing cost optimization.

• Discussions are underway to refinance a SR 2 billion loan, with expectations for an extended payment profile.