Alujain Corp. announces its Interim Financial results for the Period Ending on 2026-06-30 ( Six Months )

Alujain Corporation reported a significant 807% year-on-year increase in net profit to 133.9 million for Q2 2026, driven by a 71% surge in total revenue which reached 541.9 million.
Top-line growth was primarily fueled by a 68% rise in polypropylene sales and improved realized pricing linked to geopolitical supply disruptions, allowing the company to expand its gross profit to 152.0 million despite a 33% increase in cost of revenue.
Capital work-in-progress rose by 251 million during the quarter to a total of 1.27 billion, reflecting accelerated development and early work on the new propane dehydrogenation (PDH) and polypropylene production complex in Yanbu.
The group classified its IRIC subsidiary as a discontinued operation held for sale following a strategic partnership with Belgian firm Beaulieu Fibres International NV, aimed at expanding the company’s downstream presence and developing an integrated plastics hub.

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	541.85	316.24	71.341	330.3	64.047
Gross Profit (Loss)	151.96	23.76	539.562	28.99	424.18
Operational Profit (Loss)	127.61	4.19	2,945.584	7.82	1,531.841
Net Profit (Loss) Attributable to Shareholders of the Issuer	91.87	12.43	639.098	12.17	654.889
Total Comprehensive Income Attributable to Shareholders of the Issuer	91.87	12.43	639.098	12.17	654.889
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	872.15	550.81	58.339
Gross Profit (Loss)	180.94	2.13	8,394.835
Operational Profit (Loss)	135.43	-40.2	-
Net Profit (Loss) Attributable to Shareholders of the Issuer	104.05	-4.8	-
Total Comprehensive Income Attributable to Shareholders of the Issuer	104.05	-4.8	-
Total Shareholders Equity (after Deducting Minority Equity)	2,559.84	3,384.53	-24.366
Profit (Loss) per Share	1.5	-0.07
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 quarter compared to the same quarter of the last year is	The major reason for the increase in revenue is increase in sold quantities, and increase in sales price by 46%
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The major reasons for the increase in net profit are 1. Increase in revenue by 71% 2. Increase share of joint venture profit (Natpet Schulman “NSSPC”- PP compounding plant)
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The major reason for the increase in revenue is increase in sold quantities and increase in sales price by 60%
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The major reasons for the increase in net profit are 1. Increase in revenue by 64% 2. Increase share of joint venture profit (Natpet Schulman "NSSPC"—PP compounding plant)
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	The major reason for the increase in revenue is increase in sold quantities and increase in sales price
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The major reasons for the increase in net profit are 1. Increase in revenue by 60% 2. Increase share of joint venture profit (Natpet Schulman "NSSPC"—PP compounding plant)
Statement of the type of external auditor's report	Unmodified conclusion
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)	None
Reclassification of Comparison Items	Certain comparative figures have been reclassified and restated to conform to the current period, including reclassifying some items from what was announced for the previous quarter and for the same quarter and period of the last year.
Additional Information	1. More than SAR 1.27 billion have been invested in Alujain new project (Natpet-2) up to the end of Q2-2026, and more than SR 800 million have been committed to purchase main long lead equipment. A significant portion of the initial construction work has been completed. In addition, very good progress has been made in the work related to completing the project financing. 2. In Q2'26, Infrastructure Reinforcement Industrial Company "IRIC" was classified as a disposal group held for sale and upon completion of the subscription by the Belgian partner, Beaulieu Fibres International N.V. (“BFI”), with no impairment recognised. This infrastructure subsidiary is preparing to announce a joint venture with BFI, marking an important step in expanding the Group's downstream presence and supporting its long-term ambition to develop an integrated plastics hub. This event was announced on the Tadawul website on 21 July 2026. 3. The improvement in the company’s product prices in Q2 2026 (due to the current geopolitical situation) had a positive impact on the company’s operating performance for the 2nd quarter of 2026. 4. The decrease in equity is due to the recognition of a one-time impairment loss of SAR 1,309 million on goodwill and property, plant, and equipment of Natpet during the fourth quarter of 2025. For more information, please refer to the Earnings Release attached to this announcement
Attached Documents	Attached Documents