Financial Results : Luberef net profit falls 7% to SAR 221.5M in Q1 2025

Luberef net profit falls 7% to SAR 221.5M in Q1 2025

04/05/2025 Argaam Exclusive

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Saudi Aramco Base Oil Co.’s (Luberef) net profit fell 7% to SAR 221.5 million in Q1 2025, from SAR 239 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 2,184.79 2,127.96 (2.6 %)
Gross Income 313.83 287.55 (8.4 %)
Operating Income 246.12 226.34 (8.0 %)
Net Income 239.01 221.51 (7.3 %)
Average Shares 168.75 168.75 -
Earnings Per Share before unusual items (Riyal) 1.42 1.31 (7.3 %)
EPS (Riyal) 1.42 1.31 (7.3 %)

The profit decline was attributed to a decrease in by-products sales volumes, despite an increase in base oil prices. This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.

 

Sequentially, the company’s net profit rose 6.4% from SAR 208.21 million in Q4 2024, driven by an increase in by-products and base oil crack margins, despite the decrease in base oil sales volumes.

 

Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025, compared to SAR 4.25 billion a year earlier.

 

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