Mesaieed Petrochemical Holding Company (MPHC) Q4 2025 earnings summary

Executive summary

• Reported net profit for FY 2025 was QAR 533 million, down 26% year-over-year, mainly due to lower average selling prices and challenging macroeconomic conditions.

• The company operates as a holding entity with significant investments in joint ventures in Qatar's petrochemical sector, with 85% of income from these ventures.

• Maintains strong liquidity, with cash and bank balances at QAR 3.5 billion as of year-end 2025.

• Dividend payout for 2025 was 100% of net income, with a proposed dividend of QAR 0.042 per share.

• Competitive strengths include low-cost production, assured feedstock, and experienced management.

Financial highlights

• Revenue for 2025 declined 6% year-over-year to QAR 2,645 million, mainly due to a 10% drop in average blended product prices despite higher sales volumes.

• EBITDA margin narrowed from 42% to 38% year-over-year.

• Basic and diluted EPS for 2025 was QAR 0.042, compared to QAR 0.057 in 2024.

• Cash and cash equivalents increased to QAR 399.2 million from QAR 65.2 million year-over-year.

• Total assets at year-end were QAR 16.5 billion, with equity of QAR 16.2 billion.

Outlook and guidance

• Petrochemical segment expected to return to full capacity in Q1 2026 after major turnaround; future profitability will depend on price recovery in key markets.

• Chlor-alkali segment anticipates improved performance as the new PVC project ramps up, with full integration targeted by end of 2027.

• CAPEX for 2026-2030 is projected at USD 770 million, with flexibility to defer or cancel projects based on market conditions.

• New and amended IFRS standards effective from 2026 and 2027 are expected to impact future disclosures and presentation.

• Management anticipates adoption of new standards will not materially impact financials upon initial application.