Mesaieed Petrochemical Holding Company (MPHC) Q3 2025 earnings summary

Executive summary

• Diversified petrochemical conglomerate with interests in olefins, polyolefins, alpha olefins, and chlor-alkali products, operating mainly through joint ventures in Qatar.

• Maintains a strong market position in Qatar with a 100% foreign ownership limit and significant backing from QatarEnergy.

• Report covers the nine-month period ended September 30, 2025, with all figures in thousands of Qatari Riyals.

• Board approved and authorized the financial statements on October 29, 2025.

• Focuses on operational excellence, cost optimization, and shareholder value creation.

Financial highlights

• Revenue for 9M-2025 declined 9% year-over-year to QR 2,067 million, mainly due to lower average selling prices despite higher sales volumes.

• Net profit dropped 8% year-over-year to QR 520 million, impacted by margin pressures and lower investment income.

• Basic and diluted EPS was QR 0.041, compared to QR 0.045 year-over-year.

• Cash and bank balances decreased 4% to QR 3,326 million, reflecting dividend payments and project financing, while cash and cash equivalents increased to QR 126,220 from QR 65,215 at year-end 2024.

• EBITDA margins remained resilient, ranging from 39% to 65% over recent quarters.

Outlook and guidance

• Market conditions remain challenging due to global overcapacity, weak demand, and price volatility in both petrochemical and chlor-alkali sectors.

• CAPEX for 2025-2029 projected at QR 1.52 billion, with major investments in turnaround costs, environmental projects, and the new PVC plant.

• Board may defer or cancel projects based on evolving market dynamics.

• Advances for a new salt project with a 60% equity stake signal strategic expansion; further details pending final investment decision.