| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,301.51 | 1,555.33 | -16.32 | ||
| Gross Profit (Loss) | -49.56 | 228.52 | - | ||
| Operational Profit (Loss) | -1,343.15 | -102.74 | 1,207.33 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -833.85 | -50.7 | 1,544.67 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -829.74 | -49.06 | 1,591.28 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 2,507.69 | 3,493.13 | -28.21 | ||
| Profit (Loss) per Share | -12.05 | -0.73 | |||
| 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 | The main reason for the decrease in revenue is due to the decrease in Sales price (Netback) by 13%, as well as the planned turnaround maintenance of the plant during 1st quarter 2025. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net loss is mainly due to the recording of an accounting impairment loss on goodwill and impairment on property, plant, and equipment “PPE” of Natpet amounted to SAR 1,309 million (Alujain’s share is SAR 851 million). It should be noted that the company's results, without recording the above-mentioned impairment loss, show a net profit of SAR 17 million. |
| 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 comparative figures have been reclassified and restated for the year ended 31 December 2025 to conform to the current period, including reclassified and restated some items from what was announced for the same period of the last year. |
| Additional Information | 1. Impairment loss on goodwill and impairment of PPE of NATPET: During 2021, Alujain gained control over National Petrochemical Industrial Company (“NATPET”) as a result of amendments to NATPET’s Articles of Association, without transferring any consideration and without increasing Alujain’s ownership percentage in NATPET. On the acquisition date, the company evaluated NATPET through an independent certified evaluator (as one of the requirements for consolidating the financial statements as a result of the control of NATPET, according to IFRS accounting standards). As a result of this valuation, Alujain’s previously held interest in NATPET was remeasured at fair value, and goodwill and intangible assets totaling SAR 1,533 million were recognized (goodwill of SAR 1,205 million and customer relationships of SAR 328 million). The valuation also resulted in a non-operating accounting profit for Alujain from a fair value remeasurement gain on Alujain’s previously held interest in NATPET amounted to SAR 1,352 million (representing an additional increase of SAR 22.15 per share for Alujain shareholders). Accordingly, the company achieved a net profit for 2021 amounted to SAR 1,622 million. Goodwill is subject to annual impairment testing in accordance with IFRS accounting standards, in the year ending December 31, 2025, NATPET was valued by an independent certified evaluator, resulting in the recognition of an impairment loss of SAR 1,309 million. 2. The company's results before recording an impairment loss on goodwill and impairment of PPE for 2025 are as follows: - Consolidated gross profit amounted to SR 54 million. - Net profit for the year attributable to shareholders of Alujain amounted to SR 17 million. 3. The book value of Alujain shares decreased as a result of revaluation from SAR 50.48 as of 31 December 2024, to SAR 36.24 as of 31 December 2025. 4. Cash generated from operations amounted to SAR 216 million during the year 2025 5. As at 31 December 2025, 100% of the intangible carrying amount, totaling SAR 1,533 million, was amortized and written off. This amount had originally been added to the book value in 2021 as a result of NATPET’s fair value remeasurement conducted by an independent valuer in accordance with IFRS accounting standards. 6. More than SAR 1.0 billion have been invested in Alujain new project up to the end of 2025, compared to a total investment of SAR 677 million (of which SAR 346 million was spent during the current year). More than SR 800 million have been committed to purchasing long lead items, and initial civil construction work has started. The company has received bids from the main EPC contractors and is now in the final stage of evaluating the bids and awarding the main contracts. It is worth noting that the strategy for awarding bids and implementing major projects will be driven by obtaining the lowest possible construction cost in order to achieve the targeted return on investment. For more information, please refer to the Earnings Release attached to this announcement |
| Attached Documents | Attached Documents |
