The Saudi Arabian Mining Company “Maaden” recorded a decrease in its net profits, during the third quarter of 2026, by 23.7 percent to 1.68 billion riyals ($449 million), compared to about 2.21 billion riyals ($588 million) in the same period of the previous year, according to the financial results published on the Saudi Stock Exchange “Tadawul” website.
The company attributed the decline in net profits to a decrease in gross profit by 29.5 percent, affected by the increase in the cost of sales in the phosphate business unit, as a result of increased costs of supply chains and raw materials, specifically sulfur, in addition to the lack of sales from ammonia exports during the quarter. Profits were also affected by an increase in operating expenses, especially exploration expenses, a decrease in financing income, and an increase in net expenses for zakat, income taxes, and royalty fees.
These effects were partially offset by increased selling prices of products in the business units and higher sales volume in the gold unit.
On the other hand, during the third quarter, the company’s revenues increased by 11.3 percent to 11.14 billion riyals ($2.97 billion), compared to about 10.01 billion riyals ($2.67 billion) in the same period of the previous year.
The company attributed the revenue growth to the increase in selling prices of products in all business units, in addition to the increase in sales volume in the gold business unit, while this increase was limited by the decrease in sales volume in the phosphate business unit, as a result of not achieving sales from ammonia exports during the quarter.
Regarding the results of the first nine months of 2026, Ma’aden’s net profits decreased by 3.2 percent to 5.49 billion riyals ($1.46 billion), compared to about 5.68 billion riyals ($1.51 billion) in the same period of the previous year. Earnings per share fell to 1.42 riyals, compared to 1.48 riyals for the corresponding period.
The company attributed the decline in profits during the period to a decrease in total profit by 12.8 percent, affected by the increase in the cost of sales in the phosphate business unit, as a result of the increase in the costs of supply chains and raw materials, especially sulfur, in addition to the decrease in sales of ammonia exports. Profits were also affected by an increase in operating expenses, driven by an increase in exploration expenses, a decrease in financing income, and an increase in net expense for zakat, income taxes and royalties. This was partially offset by an increase in other operating income for the Phosphate Business Unit, as a result of the recognition of a one-time insurance income of 375 million riyals ($100 million), in addition to a lower financing cost and an increase in the company’s share of profits from its investments.
On the other hand, the company’s revenues increased, during the first nine months of the year, by 10.5 percent to 30.87 billion riyals ($8.23 billion), compared to about 27.94 billion riyals ($7.45 billion) in the similar period of the previous year.
The company attributed this growth to the increase in selling prices of products in all business units, in addition to the increase in sales volume of the gold business unit, while revenue growth was limited by the decrease in sales volume in the phosphate business unit, as a result of the decline in ammonia export sales during the period.
Bond yields in the euro zone fell slightly in early trading, Monday, supported by a slight decline in oil prices, but movements remained limited as traders awaited new indicators from the stock or energy markets.
The 10-year German bond yield fell one basis point to 3.24 percent, while the two-year bond yield fell two basis points to 2.95 percent, according to Reuters.
The 10-year German bond yield, which is considered a benchmark for bond yields in the euro zone, declined for the fourth week in a row, with investors turning to government bonds as a safe haven in light of the turmoil in the stock markets. Concerns about French debt over the past month also prompted investors to invest in German bonds in particular.
These declines came after the German 10-year bond yield rose to 3.65 percent in late September, its highest level since 2009, affected by a global wave of selling in bond markets, fueled by fears that rising energy prices would lead to increased inflation, in addition to the growing volume of borrowing by governments and companies.
The decline in Brent crude prices by about 2 percent, and renewed concerns about technology stocks, especially Nvidia stock, contributed to supporting bonds during Monday’s trading, but the rise in gas prices in Europe limited their gains.
Other European government bond yields recorded movements similar to their German counterparts. The yield on French 10-year bonds fell one basis point to 4.76 percent, while the yield on Italian bonds for the same maturity fell two basis points to 4.32 percent.
Bond markets are awaiting the release of US inflation data scheduled for Tuesday, as it is the next main stop on the economic data schedule.
European stocks stabilized at the opening of trading on Monday, at a time when investors were evaluating the prospects for global investment in artificial intelligence, while attention was focused on anticipated deals in the banking sector, including the banks “Credit Agricole” and “Banco BBM”.
The European STOXX 600 index settled at 648.88 points, by 08:10 GMT, while the mining sector topped the gains, rising 1.4 percent, keeping pace with the rise in precious metal prices, according to Reuters.
Banco BBM shares jumped by 9.4 percent, after the French bank Credit Agricole announced that it proposed merging its subsidiary in Italy with the Italian bank, in a move that would create a unified banking entity that would become the third largest bank in the country.
On the other hand, the shares of the French bank fell by 1.4 percent.
UniCredit shares rose by 3.6 percent, after the bank announced that its profits in the third quarter rose by 24 percent on an annual basis, exceeding analysts’ expectations by a large margin. It also raised its profit target for the full year, at a time when it is preparing to develop a strategy regarding Commerzbank. The German bank's shares rose by 2.5 percent.
Shares of technology companies, such as Extron and ASML, moved between limited gains and losses, after sharp declines recorded last week, amid concerns about the prospects for global investment in artificial intelligence.
A report regarding alleged links between Nvidia CEO Jensen Huang and a Chinese businesswoman accused of passing information to Beijing raised questions about the future of the head of the leading chip manufacturer.
Nvidia shares, listed on the Frankfurt Stock Exchange, fell by 6 percent.
The shares of the German construction company Hochtief fell by 5.3 percent, after ACS, its largest shareholder, announced that it had not considered launching a takeover bid for the German group.
Shares of luxury goods companies, such as LVMH and Burberry, also fell by more than 2 percent each, after data showed weak consumer demand in China last October, which is a major market for European luxury products.
