Mesaieed Petrochemical Holding Company (MPHC) Q2 2026 earnings summary

Executive summary

• Production and sales volumes declined sharply in H1 2026 due to ongoing regional conflict and operational adjustments, resulting in significant revenue and profit declines.

• Net loss of QR 183 million was reported for H1 2026, reversing a profit in H1 2025.

• Both petrochemical and chlor-alkali segments experienced reduced output and margin compression, with further deterioration in Q2 2026.

• The company operates as a holding entity for petrochemical joint ventures in Qatar, with significant stakes in Q-Chem, Q-Chem II, and QVC.

• Despite operational challenges, liquidity remained strong, supported by robust cash balances.

Financial highlights

• Revenue for H1 2026 fell 57% year-over-year to QR 605 million, with Q2 2026 revenue at QR 143 million, down 69% sequentially.

• Net loss for H1 2026 was QR 183 million, compared to a profit of QR 379 million in H1 2025.

• EBITDA dropped 93% year-over-year to QR 41 million for H1 2026, with margin contracting to 7% from 43% year-over-year.

• Cash and bank balances stood at QR 3,238 million as of June 30, 2026, down 8% from year-end 2025, mainly due to dividend distribution and PVC project investment.

• Basic and diluted loss per share was QR 0.015, versus earnings per share of QR 0.030 in the prior year period.

Outlook and guidance

• Ongoing regional conflict and logistics bottlenecks are expected to continue impacting production, sales volumes, and profitability.

• Market conditions remain volatile, with supply disruptions supporting selling prices despite weak demand.