Saudi Kayan's 2024 net losses shrink 15.5% amid higher revenue in 2024; accumulated losses decline
Riyadh – Saudi Kayan Petrochemical Company reported a 15.57% decrease in net loss to SAR 1.80 billion in 2024 from SAR 2.13 billion in 2023, according to the income statement.
The revenue grew by 6.80% year-on-year (YoY) to SAR 8.72 billion in 2024, compared to SAR 8.17 billion.
Moreover, the loss per share declined to SAR 1.20 in 2024 from SAR 1.42 in 2023.
Accumulated Losses
As of 31 December 2024, the company's accumulated losses reached SAR 4.51 billion, representing 30.10% of the SAR 15 billion capital.
During the first nine months (9M) of 2024, Saudi Kayan posted net losses of SAR 1.11 billion, down 26.16% from SAR 1.51 billion in the same period of 2023.
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