Alujain Corp. widened its net loss to SAR 833.9 million in 2025, compared with a loss of SAR 50.7 million a year earlier, according to data published by Argaam.
The deeper loss was largely driven by the recording of an accounting impairment on goodwill and property, plant and equipment (PPE) at its affiliate National Petrochemical Industrial Co. (Natpet). The total impairment amounted to SAR 1.31 billion, with Alujain recognising a SAR 851 million share of the charge.
Excluding the impairment, the company would have reported a net profit of SAR 17 million for the year.
Alujain’s revenue declined during the period as selling prices fell 13% year-on-year, while the company also carried out planned turnaround maintenance at its plant in the first quarter of 2025. Revenue dropped to SAR 1.30 billion in 2025, down from SAR 1.56 billion in 2024.
Gross income turned negative during the year, coming in at SAR 49.6 million in losses, compared with a gross profit of SAR 228.5 million in 2024. Operating losses widened sharply to SAR 1.34 billion, from SAR 102.7 million a year earlier.
Earnings per share fell to SAR 12.05 per share in 2025, compared with a loss of SAR 0.73 per share in 2024.
The company’s total shareholders’ equity, excluding minority interest, declined to SAR 2.5 billion as of Dec. 31, 2025, from SAR 3.49 billion at the end of 2024.
In the fourth quarter, Alujain posted a net loss of SAR 845.4 million, compared with SAR 99.8 million in Q4 2024, as operating losses widened.
Quarterly revenue slipped 8.7% year-on-year to SAR 326.9 million, while gross income swung to a loss of SAR 98.2 million from a profit of SAR 17.5 million in the same period a year earlier. Operating losses widened to SAR 1.32 billion during the quarter.
Alujain had reported a net profit of SAR 16.4 million in the third quarter of 2025.