Financial Results : SABIC loses SAR 5.28B in H1 2025, SAR 4.1B in Q2 on one-off provisions

SABIC loses SAR 5.28B in H1 2025, SAR 4.1B in Q2 on one-off provisions

03/08/2025 Argaam Exclusive

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Saudi Basic Industries Corp. (SABIC) posted a net loss of SAR 5.28 billion in H1 2025, against a profit of SAR 2.43 billion in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 68,404.42 70,159.76 2.6 %
Gross Income 13,056.18 9,224.85 (29.3 %)
Operating Income 3,385.51 (508.57) (115.0 %)
Net Income 2,429.75 (5276.90) (317.2 %)
Average Shares 3,000.00 3,000.00 -
Earnings Per Share before unusual items (Riyals) 0.87 0.10 (88.7 %)
EPS (Riyal) 0.81 (1.76) (317.2 %)

SABIC reported provisions and asset impairments of SAR 3.78 billion on the shutdown of the cracker in Teesside, UK. This action came in line with the company’s portfolio review to reduce cost and improve profitability.

 

It also cited non-recurring costs of SAR 1.07 billion related to the strategic restructuring initiative in Q1 2025. Moreover, the petrochemical giant recorded a decline of SAR 1.07 billion in the results of associates and non-integral joint ventures mainly driven by impairment charges in certain financial assets in Europe.

 

The company recorded Zakat expenses of SAR 694 million in the current six-month period, compared to non-cash gains of SAR 214 million in H1 2024.

 

On the other hand, revenues grew 3% year-on-year (YoY) to SAR 70.16 billion primarily due to improved sales volumes, which was offset by lower average product selling prices.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 35,718.60 35,565.52 (0.4 %)
Gross Income 7,193.82 4,416.13 (38.6 %)
Operating Income 2,252.77 (457.07) (120.3 %)
Net Income 2,183.53 (4066.11) (286.2 %)
Average Shares 3,000.00 3,000.00 -
Earnings Per Share before unusual items (Riyal) 0.67 0.15 (78.1 %)
EPS (Riyal) 0.73 (1.36) (286.2 %)
In Q2 2025, SABIC turned to a net loss of SAR 4.1 billion, from a net profit of SAR 2.1 billion in the year-earlier period.
 
Compared to Q1 2025, the major petrochemical producer widened net losses from SAR 1.21 billion.
 
Total shareholders’ equity, after minority interest, reached SAR 153.88 billion as of June 30, 2025, down from SAR 163.91 billion a year earlier.
 
Attached Document:
 
 
 

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