Financial Results : Petro Rabigh loses SAR 2.1B in H1 2025, SAR 1.4B in Q2

Petro Rabigh loses SAR 2.1B in H1 2025, SAR 1.4B in Q2

06/08/2025 Argaam Exclusive

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Rabigh Refining and Petrochemical Co. (Petro Rabigh) slashed its net loss to SAR 2.1 billion in H1 2025, from SAR 2.5 billion in the year-ago period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 17,994.91 15,544.22 (13.6 %)
Gross Income (652.42) (702.44) (7.7 %)
Operating Income (1411.31) (1505.32) (6.7 %)
Net Income (2464.81) (2056.77) 16.6 %
Average Shares 1,671.00 1,671.00 -
Earnings Per Share before unusual items (Riyals) (1.48) (1.23) 16.6 %
EPS (Riyal) (1.48) (1.23) 16.6 %

The improvement was mainly driven by lower finance costs following a waiver of SAR 5.62 billion ($1.5 billion) in shareholders’ loans.

 

However, the company faced lower sales volumes of both refined and petrochemical products due to a complete 60-day shutdown of its production complex for scheduled maintenance.

 

In Q2 2025, Petro Rabigh’s net loss widened 24.2% to SAR 1.36 billion, from SAR 1.1 billion in Q2 2024. This was primarily due to lower sales volumes of both refined and petrochemical products.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 10,010.92 4,051.30 (59.5 %)
Gross Income (147.40) (921.06) (524.9 %)
Operating Income (543.65) (1156.77) (112.8 %)
Net Income (1099.80) (1365.92) (24.2 %)
Average Shares 1,671.00 1,671.00 -
Earnings Per Share before unusual items (Riyal) (0.66) (0.82) (24.2 %)
EPS (Riyal) (0.66) (0.82) (24.2 %)

Sequentially, net loss soared 97.7% from SAR 690 million in Q1 2025.

 

Shareholders' equity, no minority interest, reached SAR 9.62 billion by the end of H1 2025, up from SAR 8.08 billion in the year-earlier period.

 

Accumulated losses amounted to SAR 7.3 billion by the end of June 30, 2025, representing 44% of capital.

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