CHEMANOL reports deeper 2024 loss at SAR 272 mln, up 53%

Methanol Chemicals Co. (CHEMANOL) reported a net loss of SAR 272 million ($72.5 million) for 2024, widening 53% from SAR 178 million a year earlier, according to its annual financial results released on Sunday.

Operating loss grew 67% to SAR 245 million in 2024, compared to SAR 146 million in the previous year.

Total equity, excluding non-controlling interests, fell 26% to SAR 769 million from SAR 1.04 billion in 2023.

Loss per share widened to SAR 4.04 in 2024 from SAR 2.64 a year earlier.