Nama says accumulated losses at 27% of capital

Logo of Nama Chemicals Co.

Nama Chemicals Co. said losses reached 27% of its SAR 235.2 million capital, as per unaudited financial statements for April, which closed as of May 19, 2025, according to a Tadawul statement.

Accumulated losses stood at SAR 63.5 million, primarily because of the delayed arrival of raw materials, limited sources of working capital financing, and the impact of halting production at its plants due to scheduled maintenance in April 2025.

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Nama will implement the procedures and regulations applicable to listed companies on the Saudi Exchange (Tadawul) whose accumulated losses reached 20% or more of their capital.

Additionally, the board and the executive management are working to determine the best options to reduce the accumulated losses and the related burdens on the company, the statement added.

Nama widened its Q1 2025 losses to SAR 49.5 million from SAR 29.7 million in Q1 2024, according to data available with Argaam.