Maaden Nine-Month Profit Falls 3% on Cost Surge
Riyadh, Saudi Arabia — Saudi Arabian Mining Company (Maaden) posted a nine-month net profit of 5.49 billion SAR through September 2026, down 3.2% from 5.68 billion SAR in the same period last year. Rising costs in the phosphate business unit drove the decline, even as revenue climbed 10.5% to 30.87 billion SAR. The divergence between […] The post Maaden Nine-Month Profit Falls 3% on Cost Surge…
Saudi Arabian Mining Company (Maaden) reported a nine-month net profit of 5.49 billion SAR in September 2026, marking a 3.2% decrease compared to 5.68 billion SAR in the same period last year. The decline was primarily driven by increased costs in the phosphate business unit, despite a 10.5% increase in revenue to 30.87 billion SAR.
Factors such as higher commodity prices, elevated sulfur prices, and reduced ammonia exports contributed to the margin squeeze. In Q3 2026, Maaden experienced a sharper decline, with net profit falling to 1.68 billion SAR, down 23.7% from Q3 2025, and operating profit dropping to 1.57 billion SAR, a 46.5% decrease. The revenue for Q3 2026 increased by 11.3% year-on-year to 11.14 billion SAR, yet operating profit fell 33.6%.
The phosphate unit's cost surge, stemming from higher sulfur costs and logistics disruptions, along with the absence of ammonia export sales, were the primary drivers behind the profit decline. Investors should closely monitor gold volume and price trends, as they currently act as a buffer against the broader cost headwinds, but do not constitute a long-term strategy for the company.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
