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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
10/07/2025
Saudi chemicals group SABIC said on Wednesday it was studying strategic options for its National Industrial Gases Company, including an initial public offering, amid a broad review of its business. <
Reuters
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
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 55.00 | 0.50 (0.91 |
| SABICAGRINUTRIENTS | 116.90 | 1.90 (1.65 |
| LIMEINDUSTRIES | 13.53 | 0.45 (3.44 |
| LUBEREF | 105.40 | -0.30 (-0.29 |
| ALRASHEED | 140.00 | -0.90 (-0.64 |
18/07/2025
Kuwait's Jazeera Airways has launched the first phase of a Customer Experience (CX) and Feedback Intelligence Platform from LitmusWorld, following its recent upgrade of its Passenger Service Systems
Trade Arabia
17/07/2025
In a strategic move that sets a regional benchmark, Oman Cables Industry (OCI), has secured Environmental Product Declarations (EPDs) for its key cable families reinforcing its position as a regional
Times of Oman
17/07/2025
Emirates NBD has concluded AED3.9 billion ($1.06 billion) Syndicated Bonding Facilities to a consortium created by MAPA, LIMAK and CRRC that will deliver the new Dubai Metro 'Blue Line' Project.
Trade Arabia
17/07/2025
Adnoc announced on Wednesday its intention to transfer its 24.9 per cent shareholding in OMV AG to XRG, its wholly-owned international investment company.
This transfer, which is subject to
Khaleej Times
16/07/2025
In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi
Muscat Daily
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