Maaden stock faces phosphate cost pressure after Q3 profit drop

Saudi Arabian Mining Company reported a mixed third quarter on November 9, with stronger revenue offset by lower profitability. In its official results release, Maaden said revenue rose 11 percent year on year to 3.0 billion US dollars, while EBITDA fell 24 percent to 0.9 billion US dollars. Net profit attributable to shareholders was 0.4 billion US dollars.

Phosphate costs weigh on earnings

Record sulfur costs and the absence of ammonia export sales weighed on the phosphate business. Maaden said production improved to 1.6 million tonnes of granulated product after sulfur shortages in the second quarter largely eased, but the cost burden continued to pressure the unit's financial performance.

The earnings mix was more supportive in aluminum and Gold and Growth Metals. Chief Executive Bob Wilt said both units achieved record financial performance, while the phosphate team restored granulated production to levels comparable with the previous year.

Operations remain diversified

Maaden is a Saudi-based mining and metals company operating across phosphate, aluminum, gold and growth metals. Its portfolio spans several commodity markets rather than relying on a single mineral, giving operating performance in aluminum and gold a larger role when phosphate margins weaken. The company is a key participant in Saudi Arabia's mining expansion and supports the Kingdom's Vision 2030 economic program.

Investors are also watching wider developments in current market reports as commodity costs and logistics shape the outlook for Saudi industrial companies.

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