SIIG profit drops 59% to SAR 38M in H1 2025, Q2 at SAR 20M

The profit decline was attributed to a decrease in the company’s share of net earnings from its joint venture investments (S-Chem) during the current period, on lower average selling prices and higher feedstock and energy costs.

Meanwhile, sales volumes improved supported by the absence of scheduled maintenance work during the current quarter, which affected operations at Saudi Chevron Phillips and Jubail Chevron Phillips in the same period last year.

Additionally, general and administrative expenses increased, driven by legal and advisory costs related to the capital reduction process and the share buyback executed during H1 2025.

However, Zakat expenses decreased following the SAR 755 million capital reduction, which led to a lower Zakat base, as well as an increase in returns from Islamic murabaha investments.

Q2 2025 net profit dropped to SAR 20 million, a 68.8% drop from SAR 64 million in the year earlier period.

On a quarterly basis, Q2 2025 net earnings rose 9.7% from SAR 18.23 million in Q1 2025.

Total shareholders’ equity, no minority equity, reached SAR 9.06 billion by June 30, 2025, compared to SAR 10.11 billion in the corresponding period of the year before.

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