Financial Results : SABIC swings to net loss of SAR 1.21B in Q1 2025

SABIC swings to net loss of SAR 1.21B in Q1 2025

04/05/2025 Argaam Exclusive

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Saudi Basic Industries Corp. (SABIC) incurred a net loss of SAR 1.21 billion in Q1 2025 versus a net profit of SAR 246.2 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 32,685.82 34,594.25 5.8 %
Gross Income 5,862.36 4,808.72 (18.0 %)
Operating Income 1,132.74 (51.51) (104.5 %)
Net Income 246.22 (1210.80) (591.7 %)
Average Shares 3,000.00 3,000.00 -
Earnings Per Share before unusual items (Riyal) 0.20 (0.05) (123.2 %)
EPS (Riyal) 0.08 (0.40) (591.7 %)

Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices. In addition, other operating expenses increased mainly due to a non-recurring cost of SAR 1.07 billion related to a strategic restructuring initiative.

 

On the positive note, revenue increased by 6% year-on-year (YoY) to SAR 34.59 billion, primarily on higher sales volumes, but partially offset by lower average selling prices.

 

On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 156.11 billion as of March 31, 2025, compared to SAR 166.48 billion a year earlier.

 

Attached Documents:

 

 

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