SABIC CEO: Operating performance resilient despite geopolitical uncertainty

Saudi Basic Industries Corp. (SABIC) CEO and executive board member, Dr. Faisal Alfaqeer

Saudi Basic Industries Corp. (SABIC) CEO Dr. Faisal Alfaqeer said the company delivered a resilient operating performance in Q2 2026, while continuing to meet its strategic priorities amid geopolitical uncertainty, supply disruptions and elevated energy prices.

In a statement commenting on the financial results, he said SABIC remained focused on disciplined execution, operational excellence, portfolio optimization, corporate transformation, and selective growth to create sustainable long-term value.

He noted that while the current market environment remains challenging, SABIC’s strong balance sheet and disciplined approach to capital allocation enabled the company to remain resilient while continuing to create value for shareholders.

Alfaqeer said SABIC’s transformation program continues to deliver recurring EBITDA improvements, generating $547 million in the first half of 2026 and maintaining progress toward its cumulative annual target of $3 billion by 2030.

Despite the geopolitical circumstances during Q2 2026, SABIC’s resilient supply chain management successfully adapted to changing trade flows.

The volume of polymers shuttled from the Kingdom’s East to the West more than doubled, while the company maintained reliable service for customers through close collaboration with its partners and the utilization of the newly launched Red Sea Express container service, the CEO said.

On commercial innovation, Alfaqeer said SABIC maintained its leadership position by introducing 32 new product solutions during H1 2026.

Looking ahead, the CEO said SABIC will remain focused on disciplined capital allocation, operational excellence, and executing its transformation and portfolio-optimization programs.

These priorities, together with continued investment in selective growth opportunities, position SABIC to enhance shareholder returns and deliver sustainable long-term value, Alfaqeer stated.

According to Argaam data, SABIC’s losses narrowed to SAR 820 million in H1 2026 from SAR 5.28 billion in the same period of 2025. It reported a loss of SAR 833 million in Q2 2026.