| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,488.7 | 3,024.1 | -17.7 | ||
| Gross Profit (Loss) | 85.4 | 84.5 | 1.06 | ||
| Operational Profit (Loss) | -3,359.3 | -321 | 946.51 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -1,765.3 | -27.9 | 6,227.24 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -1,647.4 | -149.6 | 1,001.2 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 7,826.7 | 9,523.4 | -17.82 | ||
| Profit (Loss) per Share | -2.64 | -0.04 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Lower revenue is mainly due to the decrease in average selling prices and sales volumes for most of the products. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Increase in net loss is primarily attributable to the impairment of non-financial assets of Ilmenite Titanium Smelter Complex in Jazan and Acrylic Monomers plant in Jubail owned by the Group’s subsidiaries resulting in a non-cash negative impact of SR 2,108 million (Tasnee share SR 1,760 million), and an impairment of investment in an associate (Tronox Holdings plc) amounting to SR 464 million (Tasnee share SR 367 million), despite non-cash positive impact of debt restructuring for the Acrylic Complex amounting to SR 2,029 million (Tasnee share SR 1,061 million), Additionally, increase in net loss is also attributed to a decrease in the average selling prices and sales volumes for most of the products also resulting in share of net losses from joint ventures and associates, increase in general administrative expenses due to the full consolidation of one of the subsidiaries in Acrylic Complex (SAMCO) and zakat charge, and lower finance income, despite decrease in cost of sales. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain corresponding figures for the comparative year have been revised to account for the measurement period adjustments related to the acquisition of one of the joint ventures (Saudi Acrylic Monomers Company "SAMCO"), in line with the applicable accounting standards, as disclosed under Note 45 in the Group's consolidated financial statements for the year ended 31 December 2025. Additionally, certain corresponding figures for the comparative year have been re-presented, as some of the Group’s subsidiaries met the criteria, as defined in IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations’. |
| Additional Information | Summary of key financial events as disclosed in the respective notes in Group’s audited consolidated financial statements for the year ended 31 December 2025: - Consolidation of SAMCO in the Group's consolidated financial statements started from the date of acquisition of SAMCO from 31 December 2024, resulting in variances in 2025 compared to the previous year. - The Group completed the Acrylic Complex debt restructuring and rescheduling, (as announced on Tadawul on 19 February 2025) and recognized a non-cash gain of SR 2,029 million (Tasnee share SR 1,061 million) (Note 25). - The Group received and accepted a binding offer to sell a group of subsidiaries in the Downstream segment. Accordingly, the subsidiaries are classified as ‘held for sale’ and presented as ‘discontinued operations’ since they meet the applicable accounting criteria (Note 46). - The Group decided to initiate procedures to Idle Furnace One of the Ilmenite Titanium Smelter Complex in Jazan owned by Advanced Smelting Industries Company Limited (ASIC), a 89.5% owned subsidiary of TASNEE. Furnace One has operated safely for over four years at upto 50MW compared to the design load of 64MW, producing quality titanium chloride slag and high-purity pig iron for domestic and global markets. The decision reflects adverse market dynamics, including an extended downturn in the global TiO2 markets reducing demand, continuing pressure on selling prices and adverse impact of higher power tariff imposed during 2025 on the operating costs. (Note 47). These actions align with TASNEE’s priorities to drive operational excellence in Petrochemicals, optimization of its value-accretive asset portfolio, conserve liquidity, and deliver quality returns to its shareholders. (Notes 46 and 47) - The Company repurchased 4,686,430 of its shares for SR 49.3 million, in compliance with the relevant regulatory requirements and shareholder’s approval at the General Assembly Meeting on 11 May 2025. The repurchased shares are classified as treasury shares and presented as a deduction from equity, in accordance with the applicable accounting standards. (Note 21) |
