Riyadh, Saudi Arabia — Saudi Basic Industries Corp. (SABIC) has posted a net loss of $322 million in the first quarter of 2025 versus a net profit of SAR 250 million in Q1 2024.
Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices. In addition, other operating expenses increased mainly due to a non-recurring cost of SAR 1.07 billion related to a strategic restructuring initiative, Argaam reported.
On the positive note, revenue increased by 6 percent year-on-year (YoY) to SAR 34.59 billion, primarily on higher sales volumes, but partially offset by lower average selling prices.
On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.$322
Total shareholders’ equity, after minority interest, stood at SAR 156.11 billion as of March 31, 2025, compared to SAR 166.48 billion a year earlier.
