Saudi Arabian Mining Company (Maaden), one of the world’s fastest growing mining companies, today reported a 24% year-on-year (YoY) revenue growth to SAR27.9 billion ($7.44 billion) for nine-month (9M) period ended September 30, 2025 (9M-FY24: SAR22.6 billion), driven by higher sales volumes and stronger commodity prices.
EBITDA was up 30% YoY to SAR11.5 billion (9M-FY24: SAR8.8 billion), due to higher phosphate and aluminum FRP sales volumes and a strong overall pricing environment, the company said.
Net profit of SAR5.7 billion ($1.52 billion) , was up 91% YoY (9M-FY24: SAR3.0 billion), reflecting strong EBITDA and reduced finance costs, lower net zakat, income tax and severance.
Strong cash generation from operations of SAR8.0 billion and closing cash position of SAR10.9 billion.
Improved Net Debt/EBITDA at 1.5x, compared to 1.8x at end-FY24. Remains below target range. Attributable to equity holders of Maaden.
OPERATIONAL AND STRATEGIC HIGHLIGHTS
* The company continued its operational momentum resulting in higher overall production YoY, with Phosphate at near-record levels and strong output by aluminum.
* Key milestone reached during the period included 50% completion of Phosphate 3 Phase 1 project. The project remains on budget and on schedule for production in 2027, the company said.
* Maaden has awarded the engineering, procurement and construction management (EPCM) contract for Ar Rjum gold project.
* On 1 July 2025, Maaden completed the acquisition of Alcoa’s 25.1% ownership interest in Maaden Aluminum Company (MAC) and Maaden Bauxite and Alumina Company (MBAC). Maaden now fully owns and operates both assets.
* Maaden became the first Middle Eastern member of the International Council on Mining and Metals (ICMM), reinforcing its commitment to responsible mining and governance and strengthening its role in shaping global best practices.
Bob Wilt, Maaden CEO, said: "We’ve powered through this quarter, and 2025, with solid execution and good momentum across every growth initiative. Revenue increased 24 percent year on year to SAR27.9 billion, with EBITDA up 30 percent YoY to SAR11.5 billion and net profit sitting at SAR5.7billion, a 91 percent increase YoY.
“On the ground, our operations are strong and consistent, with DAP production steady at near-record levels, aluminum output sound, and gold production increased over the quarter. Our flagship Phosphate 3 Phase 1 project has crossed the halfway mark, and we remain on time and on budget, indicative of our ability to deliver at scale. At Ar Rjum, we awarded the project’s EPCM contract and secured land in Al-Muwayh to support the build of the Kingdom’s communities for our teams and the people we serve.
“Looking ahead, Maaden is well-primed to hit our 2025 goals at pace. We will continue to focus on strategic growth, drive our project pipeline, accelerate exploration and integrate pioneering technology at all levels of the organisation. As we enter the next phase of our growth journey, we will build a sustainable organization. This is underpinned by our commitment to growing a world-class talent pipeline, that supports Saudi Arabia’s Vision 2030 to deliver impact and value for our people and for our shareholders," he said.- TradeArabia News Service