SAUDI KAYAN-

Saudi Kayan Petrochemical Co. saw its net loss decline to SAR 1.8 bn in 2024, down from SAR 2.1 bn in 2023, according to a disclosure to Tadawul. The improved performance came on the back of higher average selling prices for products and a collection of a SAR 253 mn ins. payment, with gains partly offset by increases in the costs of some raw materials. Meanwhile, revenues were up 6.8% at SAR 8.7 bn during the same period on the back of the increase in selling prices.

The uptick in performance still came shy of analysts' expectations, pegged at some SAR 1.49 bn in losses, Asharq Business reports citing estimates compiled by Bloomberg.

REMEMBER- Kayan is expected to see a 1.3% rise in its cost of sales, due to Aramco raising domestic diesel prices in January.

ASTRA INDUSTRIAL GROUP-

Homegrown industrial conglomerate Astra Industrial Group saw its net income rise 24% y-o-y to SAR 589.3 mn in 2024, buoyed by solid performance across all sectors, gains from the sale of Astra Mining and the settlement of company debts as part of the acquisitions, according to a disclosure to Tadawul. Meanwhile, revenues were up 8.6% during the same period at SAR 3.1 bn, thanks to higher sales in the pharma and steel sectors.

REMEMBER- Saudi Lime Industries closed a SAR 35 mn full takeover of Astra Mining Limited in May of last year. The Nomu-listed company also settled SAR 130 mn in debts owed by Astra to local lenders as part of the acquisition, bringing the total transaction value to SAR 164.6 mn. The transaction was financed via Saudi Lime’s own resources, along with debt facilities.

SAUDI STEEL PIPE-

Saudi Steel Pipe saw its net income rise 15.2% y-o-y to SAR 250 mn in 2024, with gains attributed to the consolidation of subsidiary Global Pipe Company’s results with the full year, higher efficiency, and improved product mix, it said in a statement (pdf). Meanwhile, revenues were up 22.1% during the same period at SAR 1.6 bn.

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