Latest news with #SaudiKayanPetrochemicalCompany
Zawya
30-04-2025
- Business
- Zawya
Saudi Kayan suffers nearly $207mln net losses in Q1-25
Riyadh – Saudi Kayan Petrochemical Company incurred net losses valued at SAR 775.78 million in the first quarter (Q1) of 2025, an annual increase of 35.65% from SAR 571.86 million. Revenues climbed by 4.35% year-on-year (YoY) to SAR 2.06 billion in in the three-month period that ended on 31 March 2025 from SAR 1.97 billion, according to the financial statements. Loss per share surged to SAR 0.52 in Q1-25 from SAR 0.38 during the same period in 2024. Quarterly, the Q1-25 net losses hiked by 13.15% from SAR 685.61 million in Q4-24, whereas the revenues declined by 8.17% from SAR 2.24 billion. Accumulated losses amounted to SAR 5 billion as of 31 March 2025, representing 33.35% of the company's capital. This is higher than the SAR 4.51 billion accumulated losses registered at the end of December 2024. Source: Mubasher
Zawya
18-03-2025
- Business
- Zawya
Saudi Kayan refinances $2.2bln shariah-compliant loan with 3 local banks
Saudi Kayan Petrochemical Company has signed a shariah-compliant (Murabaha) refinancing deal worth 8.1 billion Saudi riyals ($2.2 billion) with three local banks. The lenders include Saudi National Bank, Banque Saudi Fransi and Alinma Bank, the petrochemicals major said on Monday. The original financing duration before restructuring was eight years, maturing December 2027, while the new loan has a duration of 10 years, ending December 2034. The agreement is covered by a promissory note and accounts receivable. Refinancing will improve solvency, manage risks, respond to market fluctuations, and manage liquidity with greater flexibility. Over the past years, Saudi Kayan has reduced the debt level from SAR 34.4 billion to SAR 8.1 billion as of December 31, 2024. The fall in debt was achieved through new refinancing, extension of previous financing and early repayment of some loans. (Editing by Seban Scaria
Zawya
18-03-2025
- Business
- Zawya
Saudi Kayan inks $2.16bln loan from 3 listed lenders
Riyadh – Saudi Kayan Petrochemical Company penned an agreement, on 16 March, to refinance Islamic Murabaha loans amounting to SAR 8.10 billion with certain local banks. This deal aims to achieve several strategic objectives, including maximising cash liquidity, supporting the financial position, and providing greater financial flexibility, according to a bourse filing. Moreover, the refinancing will improve solvency to achieve rewarding financial returns that help the company overcome challenges, manage risks, and expand shareholders' value. The Saudi National Bank (SNB), Banque Saudi Fransi, and Alinma Bank acted as lead arrangers (syndication). Meanwhile, the refinancing agreement will reflect on the company's financial statements starting from the first quarter (Q1) of 2025. The net losses of Saudi Kayan dropped by 15.57% to SAR 1.80 billion last year from SAR 2.13 billion in 2023. Source: Mubasher
Zawya
21-02-2025
- Business
- Zawya
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. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
