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- Acwa Power signs $3.5bn Saudi CCGT power plant contract
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20/02/2025 13:43 AST
Saudi Aramco Base Oil Company (Luberef), one of the world's leading suppliers of base oils, has announced solid results for FY 2024 with its revenues for the 12 months surging to hit SAR10.03 billion ($2.6 billion), up 5.8% over the previous year's figure of SAR9.48 billion ($2.5 billion) mainly due to increase in by-products sales volumes as well as by-product prices despite a plunge in base oil prices.
Announcing the results for the 12-month period ended December 31, 2024, Luberef said however, its net profit plunged 35% to SAR972.02 million from the previous year's figure of SAR1.5 billion.
This was mainly due to a decrease in base oils and by-products crack margins despite the increase in base oil sales volumes, said Luberef in its filing to Saudi bourse Tadawul.
Meanwhile, the earnings per share (EPS) retreated to SAR5.78 in 2024 from SAR8.98 a year earlier, it added.
Impressed with the results, the board members have proposed cash dividends to shareholders valued at SAR518.22 million for the second half of 2024.
This brings the full-year dividends to SAR6.68 per share, which is approximately 70% of free cash flow according to the performance-linked distribution policy.
Luberef will disburse a dividend of SAR3.08 per share for 168.25 million eligible shares, it added.
Trade Arabia
| Ticker | Price | Change |
|---|---|---|
| SABIC | 65.60 | -0.10 (-0.16 |
| MAADEN | 49.30 | 0.60 (1.23 |
| SABICAGRINUTRIENTS | 113.80 | 0.20 (0.17 |
| MARBLEDESIGN | 83.50 | 0.00 (0.00 |
| LIMEINDUSTRIES | 12.18 | 0.38 (3.22 |
23/02/2025
Acwa Power Company has announced the signing of a power purchase agreement worth SAR13.4 billion ($3.5 billion) with Saudi Power Procurement Company (SPPC) for large-scale combined cycle gas turbine
Trade Arabia
23/02/2025
Vodafone Qatar has announced its participation in the upcoming Web Summit 2025, one of the world's premier technology conferences. The event will be held from February 23-26, 2025, at the DECC in Doh
The Peninsula
23/02/2025
QNB Group has been presented with an award by Mastercard for having the fastest growing commercial credit card portfolio in Qatar.
This accolade highlights QNB's prominent position in the fi
The Peninsula
23/02/2025
Doha Bank proudly announces its sponsorship as a Platinum Level Partner of the highly anticipated Web Summit Qatar 2025, set to take place from 23rd to 26thFebruary at the Doha Exhibition and Convent
The Peninsula
23/02/2025
Gulf Warehousing Company (GWC) - one of the leading logistics providers in the MENA region, has been honoured with the prestigious 'Logistics Project of the Year' award for its Al Wukair Logistics Pa
The Peninsula
Financial Information Co.
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