Qatar · Delayed Price · Currency is QAR Mesaieed Petrochemical Holding Company Q.P.S.C. Earnings Call Transcripts
Fiscal Year 2026
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A QAR 428m 9M26 net loss reflected steep volume and revenue declines amid conflict-related logistics disruptions. Petrochemicals and chlor-alkali both posted losses, while QAR 3.1bn in cash supported liquidity.
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Net profit for the nine months ended September 2024 fell 33% year-over-year to QAR 567 million, mainly due to lower prices and unplanned shutdowns in the petrochemical segment. Chlor-Alkali segment performance improved, offsetting some declines, while liquidity remains robust.
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Net profit for FY 2025 fell 26% year-over-year to QAR 533 million due to lower prices and weak demand, but liquidity remained strong and a 100% dividend payout was proposed. The petrochemical segment was impacted by a major turnaround, while the Chlor-Alkali segment posted a net loss. PVC project ramp-up and market recovery are key to future performance.
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Net profit for H1 2024 fell 32% year-over-year to QAR 398 million due to lower selling prices, but sales volumes rose 8%. An interim dividend of QAR 339 million (85% payout) was declared, and liquidity remains strong. New projects and plant shutdowns are underway.
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Net profit for 2024 fell 34% year-over-year to QAR 719 million, impacted by lower prices, volumes, and plant shutdowns. Dividend payout matched annual earnings, and the PVC project remains on track for Q2 2025 commissioning.
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Net profit for H1 2025 declined 5% year-over-year to QAR 379 million, mainly due to lower selling prices, while sales volumes rose 5%. Petrochemical segment profits improved, but Chlor-Alkali saw a sharp decline. Management remains cautiously optimistic for H2 2025.
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Net loss of QAR 1 million in Q1 2026, with revenue down 20% and EBITDA down 61% year-over-year. Both petrochemical and chloralkali segments faced sharp declines in sales volumes and profitability due to regional conflict and weak global demand.
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Q1 2025 net profit fell 4% year-over-year to QAR 186 million as lower selling prices offset higher sales volumes. EBITDA margin improved to 44%, with robust liquidity maintained. Petrochemical segment profits rose, while Chlor-Alkali returned to profitability sequentially.
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Net loss reached QAR 183 million for H1 2026, down 148% year-over-year, as regional conflict drove a 57% revenue drop and sharp declines in both Petrochemical and Chlor-Alkali segments. Liquidity remains strong with QAR 3.2 billion in cash.