National Industrialization Company (2060) Q1 2026 earnings summary

Executive summary

• Report covers the three months ended 31 March 2026, prepared in accordance with IAS 34 and reviewed by PwC, with no material misstatements identified.

• The group reported a net loss of SR 488.1 million, compared to a net profit of SR 1,811.6 million in the same quarter last year.

• Losses were driven by operational challenges, higher costs, and share of losses from associates and joint ventures.

• Discontinued operations contributed a profit of SR 13.9 million, pending completion of a major disposal.

Financial highlights

• Revenue from continuing operations was SR 495.0 million, down from SR 648.2 million year-over-year.

• Gross loss of SR 20.1 million, compared to gross profit of SR 34.3 million in Q1 2025.

• Operating loss widened to SR 430.4 million from SR 164.5 million loss last year.

• Basic and diluted loss per share was SR 0.51, compared to earnings per share of SR 1.34 in Q1 2025.

• Cash and bank balances stood at SR 1,868.9 million as of 31 March 2026.

Outlook and guidance

• Management expects current liquidity pressures to be temporary and is negotiating refinancing of SR 2,000 million in borrowings, aiming to extend repayment by 7 years.

• Geopolitical disruptions have increased raw material and logistics costs, with uncertain future impact.