Sipchem earns SAR 26.1M in H1 2025, loses SAR 169.2M in Q2

21/07/2025 Argaam Exclusive

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Sahara International Petrochemical Co. (Sipchem) reported a net profit of SAR 26.1 million for the six months ended on June 30, a decline of 91.4% from SAR 303 million in the year-earlier period.

Financials (M)

Item	6m 2024	6m 2025	Change‬
Revenues	3,694.90	3,876.10	4.9 %
Gross Income	800.91	452.70	(43.5 %)
Operating Income	484.50	31.00	(93.6 %)
Net Income	303.00	26.10	(91.4 %)
Average Shares	733.33	733.33	-
Earnings Per Share before unusual items (Riyals)	0.27	(0.04)	(116.2 %)
EPS (Riyal)	0.41	0.04	(91.4 %)

The petrochemical producer reported less net profit in H1 2025 compared to the same period last year, mainly due to an increase in feedstock prices of natural gas, ethane, and ethylene.

Furthermore, an impairment loss of SAR 200 million related to the mothball of the ethyl acetate plant of the subsidiary Sipchem Chemical Co., as previously announced in Tadawul, contributed to a decrease in gross profit.

However, the company's revenue increased during the six-month period compared to H1 2024, mainly due to higher sales volume, which was partially offset by a decrease in selling prices in some of the company’s products.

Meanwhile, Sipchem incurred a loss of SAR 169.2 million in Q2 2025, against net earnings of SAR 121.5 million a year earlier, mainly due to a decline in some product prices, as well as a rise in feedstock prices of natural gas and ethane, which contributed to lower gross profit.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2024	Q2 2025	Change‬
Revenues	1,770.27	1,906.30	7.7 %
Gross Income	320.77	293.20	(8.6 %)
Operating Income	190.20	86.60	(54.5 %)
Net Income	121.49	(169.20)	(239.3 %)
Average Shares	733.33	733.33	-
Earnings Per Share before unusual items (Riyal)	0.02	0.00	(88.4 %)
EPS (Riyal)	0.17	(0.23)	(239.3 %)

Item	Q1 2025	Q2 2025	Change‬
Revenues	1,969.81	1,906.30	(3.2 %)
Gross Income	159.50	293.20	83.8 %
Operating Income	(55.60)	86.60	255.8 %
Net Income	195.32	(169.20)	(186.6 %)
Average Shares	733.33	733.33	-
Earnings Per Share before unusual items (Riyal)	(0.05)	0.00	105.3 %
EPS (Riyal)	0.27	(0.23)	(186.6 %)

On a sequential basis, the company swung to loss from net earnings of SAR 195.32 million in Q1 2025.

Total shareholders’ equity, after minority interest, reached SAR 14.89 billion by June 30, 2025, compared to SAR 15.50 billion in a prior-year period.

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The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Company	Estimated	Actual	Change
SAB	2,145.25	2,127.00	(0.9 %)
RIBL	2,480.75	2,596.62	4.5 %
BSF	1,341.50	1,403.00	4.4 %
SIPCHEM	45.70	(169.20)	(127.0 %)
SNB	5,871.00	6,137.00	4.3 %
ALRAJHI	6,014.25	6,151.00	2.2 %
ALDREES	103.67	99.70	(4.0 %)
ADVANCED	77.25	82.00	5.8 %
JARIR	176.77	197.20	10.4 %
EXTRA	105.20	107.00	1.7 %

Company	Estimated	Actual	Change
SAB	2,145.25	2,127.00	(0.9 %)
RIBL	2,480.75	2,596.62	4.5 %
BSF	1,341.50	1,403.00	4.4 %
SIPCHEM	45.70	1.80	(2439.0 %)
SNB	5,871.00	6,137.00	4.3 %
ALRAJHI	6,014.25	6,151.00	2.2 %
ALDREES	103.67	99.70	(4.0 %)
ADVANCED	77.25	82.00	5.8 %
JARIR	176.77	197.20	10.4 %
EXTRA	105.20	107.00	1.7 %

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