Financial Results : Advanced earns SAR 153M in H1 2025; Q2 profit at SAR 82M

Advanced earns SAR 153M in H1 2025; Q2 profit at SAR 82M

14/07/2025 Argaam Exclusive

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Advanced Petrochemical Co. posted SAR 153 million in net earnings for H1 2025, against a SAR 17 million net loss in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 970.29 1,312.54 35.3 %
Gross Income 149.91 241.21 60.9 %
Operating Income 49.74 165.72 233.2 %
Net Income (16.81) 153.31 1012.0 %
Average Shares 260.00 260.00 -
Earnings Per Share before unusual items (Riyals) (0.06) 0.59 1012.0 %
EPS (Riyal) (0.06) 0.59 1012.0 %

This improved performance was fueled by an increase in the net revenues by 35% year-on-year (YoY), as well as an increase in sales volume by 44%, resulting from the trial operation for one of the production lines in the new project and considering the 2024 scheduled maintenance activities. This was in addition to a decrease in propane and purchased propylene prices by 2% and 7%, respectively.

 

The petrochemicals producer said it recorded no share in the losses on investment in SK Advanced during the current period as a result of recording a provision for impairment of investment in SK Advanced during last year. The share in losses on investment in SK Advanced amounted to SAR 67 million in H1 2024.

 

Meanwhile, the netback prices decreased by 6%.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 649.06 698.41 7.6 %
Gross Income 122.90 133.91 9.0 %
Operating Income 75.08 92.45 23.1 %
Net Income 41.56 81.61 96.4 %
Average Shares 260.00 260.00 -
Earnings Per Share before unusual items (Riyal) 0.16 0.31 96.4 %
EPS (Riyal) 0.16 0.31 96.4 %

In Q2 2025, Advanced net profit soared 95% to SAR 82 million, from SAR 42 million in the second quarter of 2024, on the back of an 8% increase in net revenues, as well as a fall in propane and purchased propylene prices by 8% and 18%, respectively.

 

Sequentially, the company's Q2 2025 net earnings grew 13.9% from SAR 72 million in Q1 2025.

 

Shareholders' equity, after minority interest, amounted to SAR 3 billion as of June 30, 2025, down from SAR 3.16 billion in the year before.

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