SABIC-

Saudi Basic Industries Corp. (Sabic) reported its third consecutive quarterly net loss, posting a loss of SAR 4.1 bn for 2Q 2025 and reversing a net income of SAR 2.2 bn in the same quarter a year earlier, the chemicals giant said in an earnings release (pdf) yesterday. The results came short of analysts’ expectations of a net income of SAR 1.1 bn from Bloomberg and SAR 504 mn from LSEG data reported by Reuters.

The drivers: The unexpected loss was driven by a SAR 3.8 bn impairment from a UK cracker closure, a SAR 1 bn loss from impairment charges of one of its European associates, a SAR 517 mn rise in finance costs, and a SAR 284 mn Zakat expense, which reversed last year’s SAR 545 mn benefit.

Revenue inched down 0.4% y-o-y during the quarter to SAR 35.6 bn, buoyed by higher sales volume and SAR 863 mn in licensing and engineering revenue, despite lower average selling prices.

The macro currents didn’t help: Sabic faced significant margin pressure due to persistent oversupply and weak demand in its key chemical segments which has kept operating rates below historical averages, CEO Abdulrahman Al Fageeh said.

Over the first half of the year, Sabic reported a net loss of SAR 5.3 bn, down from a net income of SAR 2.4 bn over the same period last year. However, revenue inched up 2.6% y-o-y to SAR 70.2 bn.

REMEMBER- In 1Q, the company had launched a transformation program to add USD 3 bn in annual value by 2030 through cost-cutting and restructuring amid a broad review of its business. Key initiatives include closing its UK cracker unit, evaluating a potential IPO for its National Industrial Gases (Gas) subsidiary, and maintaining its annual capital expenditure plan of USD 3-3.5 bn.

Looking ahead, the market is expected to stabilize in 3Q 2025 on the back of a stable demand in most sectors with improvements in electronics, personal care, and healthcare, Al Fageeh said in a press conference yesterday (watch, runtime: 24:49). However, Bloomberg analysts anticipate ongoing margin pressure from oversupply, though this may be partially offset by Sabic’s diversified portfolio and fixed-cost structure.

In the interim, Sabic’s projects are advancing, with the Petrokemya project beginning trials in 3Q 2025 and the Fujian plant set to launch trial operations in 2H 2026. The company has also launched 58 new products this year and now uses AI tools in 42% of its manufacturing facilities.

ALSO- Sabic’s board greenlit a SAR 4.5 bn dividend payout for 1H 2025 at SAR 1.5 a piece, it said in a separate disclosure. The distribution date is set for 9 September.

RIYADH CABLES-

RiyadhCables Group’s net income soared 75.3% y-o-y to SAR 279.4 mn in 2Q 2025, primarily due to a sales revenue surge, the company said in a Tadawul disclosure yesterday. Meanwhile, revenue widened 32.7% y-o-y to SAR 2.7 bn on the back of an increase in the volume of quantities sold.

On a 1H basis, the group’s bottom line jumped 63.1% y-o-y to SAR 535.6 mn, while its top line increased 27.6% y-o-y to SAR 5.2 bn.

LUBEREF-

SaudiAramco Base OilCompany (Luberef) saw its net income drop 18% y-o-y to SAR 245.2 mn in 2Q 2025, weighed down by weaker base oil sales volumes and lower by-products crack margins, despite an increase in base oil crack margins, it said in a disclosure to Tadawul yesterday. Similarly, revenue slipped 17.6% y-o-y to SAR 2.2 bn over the same period on the back of reduced prices for base oil and by-products.

On a 1H basis, the company’s bottom line fell 13.2% y-o-y to SAR 466.7 mn, while its top line was down 10.9% y-o-y to SAR 4.4 bn.

Dividends: Luberef’s board approved a SAR 168.3 mn dividend distribution for 1H 2025 at SAR 1 per share, it said in a separate filing. The distribution date is set for 15 October.

BAHRI-

TheNational Shipping Company of Saudi Arabia (Bahri) saw its net income dip 44.4% y-o-y to SAR 407.5 mn in 2Q 2025, it said in a disclosure to Tadawul yesterday. The figure was pulled down by weaker performances by Bahri Chemicals and Bahri Integrated Logistics due to lower global shipping rates, lower other income, higher finance costs, and G&A expenses compared to the same quarter last year.

MEANWHILE- Revenue slid 9.3% y-o-y to SAR 2.5 bn, primarily due to a decline in global shipping rates across Bahri Chemicals and Bahri Oil.

On a 1H basis, the company’s bottom line fell 20.7% y-o-y to SAR 940.3 mn, while its top line decreased 7.9% y-o-y to SAR 4.6 bn.

SAUDI CHEMICAL CO.-

SaudiChemical Company Holding’s net income went down 4.5% y-o-y to SAR 69.5 mn in 2Q 2025, weighed down by an increase in selling expenses, expected credit loss on trade receivables, and finance costs, it said in a Tadawul disclosure yesterday. Meanwhile, revenue grew by 9.3% y-o-y to SAR 1.8 bn, thanks to a sales volume increase.

On a 1H basis, the company’s bottom line slipped 7.6% y-o-y to SAR 151.7 mn, while its top line inched up 4.6% y-o-y to SAR 3.4 bn.

DAR ALARKAN-

DarAlarkan Real Estate Development saw its net income climb 44.5% y-o-y to SAR 238.6 mn in 2Q 2025, driven by an increase in lease revenue, lower finance costs, and gains from Islamic murabaha deposits, it said in a disclosure to Tadawul yesterday. Revenue declined by 11.4% y-o-y to SAR 852.1 mn, pulled down by lower property sales.

On a 1H basis, the company’s bottom line increased 40.5% y-o-y up to SAR 448 mn, while its top line inched down 2.3% y-o-y to SAR 1.8 bn.

UMM AL QURA FOR DEVELOPMENT-

UmmAlQura for Development and Construction’s net income rose 26.3% y-o-y to SAR 236.7 mn in 2Q 2025, driven by higher revenues from land sales, the company said in a disclosure to Tadawul yesterday. Revenue fell by 16.1% y-o-y to SAR 669.2 mn.

On a 1H basis, the company’s bottom line surged 106.3% y-o-y to SAR 396.3 mn, while its top line jumped 53.9% y-o-y to SAR 1.2 bn.

ICYMI- Masar Destination plots have been flying off the shelves: Umm Al Qura sold five land plots in Makkah’s Masar Destination in late July for over SAR 1.6 bn to Saqeefat Al Asima, an affiliate of Mohammad Abdul Aziz Al Habib and Partners Real Estate Company. Since mid-June, the company sold a combined 13k sqm of land for over SAR 891 mn across four separate transactions.

ALMOOSA HEALTH-

AlmoosaHealth Group returned to the black with a net income of SAR 51.8 mn in 2Q 2025, compared to SAR 1.3 mn in net loss during the same period last year, it said in a Tadawul disclosure yesterday. The company attributed the turnaround to higher revenues from increased patient volumes, improved operational efficiency, and lower finance expenses following a loan settlement in 1Q.

MEANWHILE- Revenue grew by 22.6% y-o-y to SAR 349 mn, driven by higher inpatient and outpatient volumes and the expansion of specialty service offerings.

On a 1H basis, the company reported some SAR 103 mn in net income, a substantial increase from SAR 12.5 mn over the same period last year. Revenue rose 19.6% y-o-y to about SAR 672 mn.

Dividends: The healthcare provider’s board greenlit the distribution of SAR 15.5 mn in cash dividends for 2Q 2025 at SAR 0.35 per share, starting Wednesday, 20 August, according to a separate disclosure to Tadawul.

TASNEE-

National Industrialization Company’s (Tasnee) net income dipped into the red in 2Q 2025, recording a SAR 65.8 mn net loss, compared to SAR 52.8 mn in net income over the same quarter last year, it said in a disclosure to Tadawul yesterday. Meanwhile, revenue went down 19.7% y-o-y to SAR 808.9 mn in the same period.

On a 1H basis, the company’s net income rebounded from a net loss of SAR 19.2 mn in 1H 2024, posting a net income of SAR 830 mn in 1H this year. Revenue slipped 5.5% y-o-y to SAR 1.7 bn over the same period.

Looking ahead, the year is shaping up to be a challenging one thanks to ongoing uncertainty in global markets, Tasnee’s CEO Fawaz Al Fawaz told Al Arabiya yesterday, adding that losses could continue into the second half of the year if conditions remain unchanged.

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