{"id":96680,"date":"2025-05-05T00:00:00","date_gmt":"2025-05-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/05\/sabic-posts-sar-1-2-bn-loss-in-1q\/"},"modified":"2025-05-05T00:00:00","modified_gmt":"2025-05-05T00:00:00","slug":"sabic-posts-sar-1-2-bn-loss-in-1q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/05\/sabic-posts-sar-1-2-bn-loss-in-1q\/","title":{"rendered":"Sabic posts SAR 1.2 bn loss in 1Q"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SABIC-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Basic In<\/strong><strong>dustries Corp. (Sabic) moved into the red<\/strong>, reporting a net loss of SAR 1.2 bn in 1Q 2025, compared to a net income of SAR 250 mn in the same quarter a year earlier, the chemicals giant said in an <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/23754_381_2025-05-04_08-21-09_en.pdf\" style=\"\" rel=\"noopener\">earrings release (pdf)<\/a>. The results came short of <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-04\/saudi-chemicals-giant-posts-another-surprise-earnings-loss\" style=\"\" rel=\"noopener\">analysts\u2019 expectations<\/a> which projected SAR 699 mn in net income. Meanwhile, revenue rose 6% y-o-y during the quarter to SAR 34.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The drivers:<\/strong> The loss was driven by SAR 1.07 bn in restructuring costs, SAR 340 mn in additional operational and feedstock costs, and SAR 100 mn in costs to repair a US facility damaged by freezing, CFO Salah Al Hareky told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/05\/04\/article_2760727.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a>, adding that Sabic is seeking ins. reimbursement for the US site repair.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Restructuring and outlook:<\/strong> Restructuring efforts \u2014 aimed at improving long-term competitiveness \u2014 are ongoing and expected to be finalized by year-end, CEO Abdulrahman Al Fageeh confirmed in a press conference <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=xz5oiqJSxY8\" style=\"\" rel=\"noopener\">(watch, runtime: 20:35)<\/a>. Overcapacity remains a major challenge in the global petrochemicals sector, but that Sabic is proceeding with its sustainability-focused projects, particularly in China, Al Fageeh added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax:<\/strong> Sabic shares fell 2.8% on the Saudi exchange following the results. The stock is down over 10% in the year-to-date, underperforming TASI.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DR. SULAIMAN AL HABIB MEDICAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dr. Sulaim<\/strong><strong>an Al Habib Medical Services <\/strong><strong>Group posted a 1% y-o-y rise in net income to <\/strong><strong>SAR 557 mn in 1Q 2025<\/strong>, with gains capped by operational costs related to new expansions, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86882&anCat=1&cs=4013&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The top line jumped 25.2% y-o-y to SAR 3.16 bn in the same period, steered by greater hospital patient volumes and pharmacy sales supported by recent openings in Jeddah and Riyadh.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>The group\u2019s BoD approved a SAR 392 mn dividend distribution for 1Q 2025 at SAR 1.12 apiece, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86883&anCat=1&cs=4013&locale=en\" style=\"\" rel=\"noopener\">separate disclosure<\/a>, setting the distribution date for 26 May.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SAUDI AUTOMOTIVE SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Aut<\/strong><strong>omotive Services (Sasco) saw its net income drop 59.7%<\/strong><strong> y-o-y to SAR 4.28 mn <\/strong><strong>in 1Q 2025<\/strong>, tugged down by higher sales, marketing, and financing expenses, and fair value losses on financial assets, according to an <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/11601_441_2025-05-03_20-21-03_en.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenue rose 12.5% y-o-y to SAR 2.76 bn, supported by higher fuel sales and diesel prices, as well as improved performance by Palm stores and the transportation segment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LUBEREF-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.luberef.com\/en\" style=\"\" rel=\"noopener\">Saudi Aramco<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.luberef.com\/en\" style=\"\" rel=\"noopener\">Base Oil Company<\/a><\/strong><strong> (Luberef) saw its net income drop 7.3% y-o-y to SAR <\/strong><strong>221.5 <\/strong><strong>mn in 1Q 2025<\/strong>, weighed down by lower by-products crack margins, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86903&anCat=1&cs=2223&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Revenue slightly slipped 2.6% y-o-y to SAR 2.1 bn over the same period on the back of weaker by-product sales despite a stronger base oil crack margins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE NATIONAL AGRICULTURAL DEVELOPMENT CO.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Nationa<\/strong><strong>l Agricultural Development Company (Nadec) saw a 2.1% y-o-y<\/strong><strong> increase in <\/strong><strong>net income to SAR 103.4 mn in 1Q 2025<\/strong>, buoyed by lower general and administrative, finance, and sales costs, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86896&anCat=1&cs=6010&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenue grew 17.9% y-o-y to SAR 1.01 bn, supported by higher sales in the agricultural, protein, and dairy and beverages segments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DAR ALARKAN-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dar Alar<\/strong><strong>kan Real Estate reported a 36.3% y-o-y rise in net<\/strong><strong> income to SAR 209.3 mn in 1Q <\/strong><strong>2025<\/strong>, driven by an increase in lease revenue, lower finance costs, and gains from Islamic murabaha deposits, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86891&anCat=1&cs=4300&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Meanwhile, revenue climbed 7.8% y-o-y to SAR 932 mn during the same period, buoyed by higher property sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MOUWASAT MEDICAL SERVICES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mouwasat Medical Services\u2019 net <\/strong><strong>income climbed 14.8% y-o-y to SAR 197.1 mn in 1Q <\/strong><strong>2025<\/strong>, supported by revenue growth, higher other income, lower impairment provisions, reduced financing costs, and lower Zakat expenses, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86911&anCat=1&cs=4002&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Revenues also grew 5.8% y-o-y to SAR 764.4 mn, driven by higher outpatient visits, stronger inpatient occupancy, and continued benefits from improved client contracts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EASTERN PROVINCE CEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eastern Province C<\/strong><strong>ement\u2019s net income shrunk 21.5% y-o-y to SAR 62 mn<\/strong>, on weaker precast sales, lower investment income, an impairment loss, and higher expenses, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86907&anCat=1&cs=3080&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Its topline inched down 2.3% y-o-y to SAR 299 mn on the back of weaker precast sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CITY CEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>City Cement po<\/strong><strong>sted a net income of SAR 51.5 mn in 1Q 2025, up 23.9%<\/strong><strong> y-o-y<\/strong>, while revenue rose 24.6% y-o-y to SAR 149.3 mn, both driven by higher sales volume and value, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=86876&anCat=1&cs=3003&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Luberef, Dar Al Arkan, City Cement, Sasco, Nadec, and Dr. Sulaiman Al Habib Medical Services Group report 1Q earnings<\/p>\n","protected":false},"author":1,"featured_media":96681,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[3727,1669,3850,285,10,709,2822,4226,3001],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-city-cement-company","tag-dar-al-arkan","tag-dr-sulaiman-al-habib-medical-services-group","tag-earnings-watch","tag-enterpriseam-ksa","tag-luberef","tag-national-agricultural-development-company-nadec","tag-saudi-automotive-services-company","tag-saudi-basic-industries-corp-sabic","wpautop","entry"],"acf":{"mongo_id":"d00d920b-2996-467f-8f2a-2e07b3b6f57c","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2268.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sabic posts SAR 1.2 bn loss in 1Q","related_issue":[96664],"teaser":"PLUS: Luberef, Dar Al Arkan, City Cement, Sasco, Nadec, and Dr. Sulaiman Al Habib Medical Services Group report 1Q earnings","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.5507837e-d42a-43e9-8aa8-02f0831b9680.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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