Financial Results : Advanced turns to SAR 72M profit in Q1 2025

Advanced turns to SAR 72M profit in Q1 2025

09/04/2025 Argaam Exclusive

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Advanced Petrochemical Co. posted an estimated net profit of SAR 72 million for the first quarter of 2025, versus a net loss of SAR 58 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 321.23 614.13 91.2 %
Gross Income 27.02 107.30 297.2 %
Operating Income (25.34) 73.27 389.1 %
Net Income (58.37) 71.70 222.8 %
Average Shares 260.00 260.00 -
Earnings Per Share before unusual items (Riyal) (0.22) 0.28 222.8 %
EPS (Riyal) (0.22) 0.28 222.8 %

The first-quarter net profit was spurred by an 88% year-on-year (YoY) rise in sales, as the company reported scheduled maintenance work in Q1 2024

 

Advanced also cited an increase of 2% and 91% YoY in net selling prices and net revenues, respectively.

 

The company incurred zero losses in Q1 2025 from the investment impairment provisions allocated for SK Advanced Co. last year. However, it sustained a loss of SAR 34 million from the South Korean unit in Q1 2024.

 

On the other hand, the company reported an 8% rise YoY in propane prices.

 

In Q4 2024, Advanced incurred a net loss of SAR 288 million. Advanced recorded positive results in Q1 2025 as sales volumes grew by 3% quarter-on-quarter (QoQ). Net selling prices and net revenues increased 4% and 6% QoQ, respectively. Propane prices declined 8%.

 

Shareholders’ equity, after minority interest, declined to SAR 2.91 billion as of March 31, 2025, from SAR 3.22 billion in the year-earlier period.

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