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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
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
26/02/2025
Chemical manufacturer Saudi Basic Industries Corp. posted a net profit of SR1.54 billion ($410.6 million) in 2024, rebounding from a SR2.77 billion loss the previous year, driven by improved operatio
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 51.00 | 3.10 (6.47 |
| SABICAGRINUTRIENTS | 98.40 | 1.10 (1.13 |
| MARBLEDESIGN | 72.00 | -2.00 (-2.71 |
| APICO | 54.40 | 0.00 (0.00 |
| LIMEINDUSTRIES | 12.30 | 0.00 (0.00 |
06/05/2025
AD Ports Group, and the General Authority for Suez Canal Economic Zone (SCZONE), the integrated investment destination for linking industry and global trade, have signed a 50-year renewable usufruct
Trade Arabia
06/05/2025
ADNOC Gas on Monday announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively.
The p
Khaleej Times
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
06/05/2025
As part of its ongoing commitment to growing and nurturing national talent within the banking and financial sectors, Gulf Bank has successfully concluded the 10th edition of its "Ajyal" program. Span
Kuwait Times
06/05/2025
ZAINIAC, Zain's internal innovation program, has made a strategic investment in Actly, an AI startup founded by Zain Kuwait employee Ahmad Al-Obaid, who will also serve as the entity's CEO. This grou
Kuwait Times
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