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05/05/2025 02:07 AST
SABIC announced on Sunday a net loss of SR1.2 billion for the first quarter of 2025 - a 36% improvement from the SR1.9 billion loss recorded in the previous quarter, driven by one-time restructuring costs and continued global market pressures.
CEO Abdulrahman Al-Fageeh attributed the quarterly loss primarily to expenses related to business restructuring, which he said are expected to yield positive long-term results by enhancing cost control.
He also cited a global economic slowdown, market uncertainty, and oversupply in the petrochemical sector as key factors impacting demand and margins.
"The oversupply of petrochemicals continues to pressurize product prices and, in turn, profit margins," Al-Fageeh said at a press conference held at SABIC headquarters in Riyadh on May 4.
Despite the challenging environment, Al-Fageeh highlighted improvements in SABIC's Environment, Health, Safety, and Security (EHSS) performance, noting a 17% year-on-year enhancement in the company's Safety, Health, and Environment Rate (SHER).
He reaffirmed SABIC's strong financial standing and ongoing efforts to optimize costs, improve efficiency, and maintain competitiveness globally. Al-Fageeh also emphasized that SABIC's strategic growth projects remain on track and aligned with planned timelines.
SABIC's CEO spotlighted the company's global innovation achievements, including six Edison Awards received this year - the fifth consecutive year SABIC has earned such recognition for its industrial solutions.
Saudi Gazette
07/05/2025
Saudi Basic Industries Corporation (SABIC), one of the world's largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting c
Asharq Al Awsat
06/05/2025
SABIC, a global leader in chemicals, reported a net loss of SAR1.2 billion ($320 million) for the first quarter of 2025, representing a 36% improvement compared to a net loss of SAR1.9 billion in the
Trade Arabia
28/03/2025
Sabic, a global leader in diversified chemicals, today (Martch 27) reaffirmed its advocacy for sustainable growth through innovation and collaboration at the Boao Forum for Asia (BFA)'s Annual Confer
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 54.70 | 1.30 (2.43 |
| SABICAGRINUTRIENTS | 110.20 | 1.70 (1.56 |
| LIMEINDUSTRIES | 13.60 | 0.20 (1.49 |
| APICO | 36.92 | -1.64 (-4.26 |
| LUBEREF | 103.60 | -0.50 (-0.49 |
07/07/2025
In a step that reflects a shared commitment to fostering innovation and driving impact, "Elm" Company and "One" Group for Communications and Marketing have signed a Memorandum of Understanding (MoU)
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Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate ten
Trade Arabia
07/07/2025
Saudi Arabia's energy and water desalination giant ACWA Power has drawn investor attention regarding its expansion strategy, following the approval of its shareholders for a SR7.1 billion ($1.8 billi
Arab News
07/07/2025
Saudi Aramco has raised its official selling price for its flagship Arab Light crude oil destined for Asia in August, the company confirmed in an official statement on Sunday.
The state-owne
Arab News
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Kuwait Times
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