Arab Finance: Valmore Holding Company posted a 9.51% year-on-year (YoY) increase in consolidated revenue for the first nine months of 2026, recording $568 million, as per an emailed press release.

The group achieved a net profit of $109 million, of which $ 88.4 million was attributable to shareholders.

The group’s gross profit went up 2.30% YoY to $182 million, while EBITDA reached $218 million, with an EBITDA margin of 38%.

Hard-currency revenues grew 15.7% YoY to $294 million, accounting for 51.7% of the group’s revenues in the nine-month period, with AlexFert contributing 74.1% of total hard-currency revenues.

In the third quarter (Q3) of 2026, revenues rose 2.86% YoY to $176 million, with EBITDA of $52.2 million. Meanwhile, net profit hit $22 million and attributable net profit at $18 million.

Commenting on the group’s performance, Loay Jassim Al-Kharafi, Chairman of Valmore Holding, said: “The third quarter of 2026 tested the premise on which Valmore's portfolio is built, and it held. As export urea prices retreated from their exceptional second-quarter highs, the Group’s diversified businesses carried it forward.”

“Two kinds of businesses made that possible. Our export-oriented chemicals businesses anchor the Group's hard-currency generation. Alongside them, our concession-backed platforms across gas and power distribution as well as upstream production expanded their contribution to c34% of Group revenue in the third quarter, up from c31% a year earlier, giving the Group long-duration revenue visibility as commodity cycles turn,” he added.

For his part, Jon Rokk, CEO of Valmore Holding, commented: “The first nine months of 2026 brought meaningful growth across Valmore's operating businesses. In chemicals, AlexFert capitalized on an exceptional pricing environment for export urea in the first half. As prices normalized in Q3 2026, the removal of the export levy effective 1st of August helped cushion the impact on AlexFert's export margins. At Sprea, key products continued to show strong sequential volume recovery, bringing nine-month revenues back in line with the prior-year period after a challenging first half on established Gulf export routes.”