{"id":108503,"date":"2026-05-06T00:00:00","date_gmt":"2026-05-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=108503"},"modified":"2026-05-06T03:41:15","modified_gmt":"2026-05-06T03:41:15","slug":"the-heavy-industry-posts-1q-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/05\/06\/the-heavy-industry-posts-1q-earnings\/","title":{"rendered":"The heavy industry posts 1Q earnings"},"content":{"rendered":"

Another handful of companies are out with their quarterly earnings<\/strong> \u2014 Riyadh Cables Group, Marafiq, Sipchem, Gasco, and Saudi Cement. <\/p>\n

\n

Riyadh Cables Group<\/p>\n

Riyadh Cables Group<\/strong> reported a 10.1% y-o-y increase in <\/strong>net income to SAR <\/strong>282 mn in 1Q 2026<\/strong>, while revenue rose 11.2% y-o-y to SAR 2.8 bn over the same period, it said in a Tadawul disclosure<\/a>. The growth was attributed to higher sales volumes and a better product mix.<\/p>\n

\n

Marafiq<\/p>\n

The Power and Water<\/strong> Utility Company for Jubail and Yanbu (Marafiq) saw its<\/strong> net income rise 8.2% y-o-y to SAR 127.6 mn in 1Q 2026<\/strong> on the back of lower finance charges and stronger finance income, it said in a Tadawul filing<\/a>. Gains were offset by higher fuel costs, a dip in other operating income, and a jump in expected credit loss provisions. Revenues increased 6.5% y-o-y to SAR 1.8 bn.<\/p>\n

\n

Sipchem<\/p>\n

Sahara International Petrochemical<\/strong> (Sipchem) slipped into the red<\/strong>, posting a net loss of SAR 215.3 mn in 1Q 2026, while revenues fell 37.7% y-o-y to SAR 1.2 bn, according to a Tadawul disclosure<\/a>. The drop was the result of weaker sales volumes and lower selling prices amid supply chain challenges, alongside a shift to losses from equity-accounted investees.<\/p>\n

\n

Gasco<\/p>\n

National Gas and Industrialization<\/strong> Holding (Gasco) <\/strong>posted<\/a><\/strong> a 32.8% <\/strong>y-o-y jump <\/strong>in net income to SAR 82.2 mn in 1Q 2026<\/strong>, buoyed by higher sales, other income, and associate contributions, as well as lower finance and zakat costs. Revenue increased by 14.9% to SAR 962.4 mn on stronger gas and empty-cylinder sales and growth in commercial projects and other services.<\/p>\n

\n

Cement companies see lower bottom lines in 1Q<\/p>\n

Saudi Cement\u2019s bottom line <\/strong>was down<\/a><\/strong> 7.6% to SAR 100 mn in 1Q<\/strong>, due to \u201clower quantity and value sold.\u201d Revenue also took an 8.5% hit to reach SAR 382.8 mn.<\/p>\n

ALSO- <\/strong>Riyadh Cement<\/strong> reported<\/a><\/strong> a 21% y-o-y decline in net income to SAR 60 mn in <\/strong>1Q 2026<\/strong>, due to lower average selling prices and sales volume and higher cost of sales. The company\u2019s revenue also declined by 11.1% y-o-y to SAR 200 mn during the same period.<\/p>\n

Cement demand declined by up to 10% versus normal levels since the regional tensions <\/strong>escalated<\/strong>, CEO Shoeil Al Ayed told Aleqtisadia<\/a>. However, the sector\u2019s limited reliance on long- and medium-term contracts allowed firms to remain flexible, keeping the decline contained within that range. <\/p>\n

Logistical constraints drove new demand patterns:<\/strong> Quarterly production levels also stayed almost the same y-o-y at 13.4 mn tons in the first quarter, although logistical disruptions shifted demand patterns, including higher demand for white cement in some GCC markets due to maritime shipping constraints, Al Ayed said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Riyadh Cables, Marafiq, Sipchem, Gasco, and cement players are out with their 1Q earnings<\/p>\n","protected":false},"author":1,"featured_media":108504,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[285,10,1452,861,1052,499,885],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-108503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-gasco","tag-marafiq","tag-riyadh-cables","tag-riyadh-cement","tag-sipchem","wpautop","entry"],"acf":{"mongo_id":"de1bfa7d-d3a5-41b4-a107-6b48755df252","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/1249.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Even more earnings","related_issue":[108493],"teaser":"Riyadh Cables, Marafiq, Sipchem, Gasco, and cement players are out with their 1Q earnings"},"yoast_head":"\nThe heavy industry posts 1Q earnings - 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