Tasnee records SAR 2.4bn revenue amid higher net losses in 2025

TASNEE
2060 -4.98% 8.40 -0.44

Riyadh – Mubasher: National Industrialization Company (Tasnee) registered 17.70% lower revenue at SAR 2.48 billion in 2025 when compared with SAR 3.02 billion in 2024, according to a bourse disclosure.

The company attributed the annual decrease in revenue to lower average selling prices and sales volumes for most of the products.

Tasnee incurred net losses amounting to SAR 1.76 billion in 2025, which signaled an increase of 6,227% from SAR 27.90 million in the previous year.

The company noted that the increase in net loss was 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 SAR 2.10 billion with Tasnee’s share being SAR 1.76 billion.

This was in addition to an impairment of investment in an associate, Tronox Holdings plc, amounting to SAR 464 million with Tasnee’s share sanding at SAR 367 million, despite non-cash positive impact of debt restructuring for the Acrylic Complex amounting to SAR 2.02 billion with Tasnee’s share totaling SAR 1.06 billion.

Tasnee added: “The 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.”

The loss per share stood at SAR 2.64 in 2025, compared to SAR 0.04 in 2024.

In the first nine months (9M) of 2025, Tasnee recorded net profits worth SAR 271.50 million and revenue of SAR 2.53 billion.

Source: Mubasher Source: {{details.article.source}}