Ma'aden reports 24% drop in Q3 2026 profits
Saudi mining giant Ma'aden saw third-quarter 2026 profits fall to 1.68 billion riyals, citing higher supply chain and phosphate raw material costs.
Saudi mining company Ma aden announced a significant 24% drop in profits for the third quarter of 2026, reporting earnings of 1.68 billion riyals. The reduction was primarily due to increased costs in the phosphate business unit, resulting in a 30% decline in gross profit. Higher supply chain and raw material expenses, particularly rising sulfur costs, contributed to this decline.
Operating profit fell by 46% to 1.56 billion riyals, while net profit decreased slightly by 3% to 5.49 billion riyals, compared to the same period a year earlier.
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