Saudi chemicals giant SABIC 2010.SE reported a net loss of 1.21 billion Saudi riyals ($323 million) in the first quarter of 2025, compared to a profit of 0.25 billion riyals a year ago.
The company said in February that it planned to cut costs and find new investment opportunities, after reporting worse than expected fourth-quarter results against a sectoral backdrop dominated by margin pressures.
It also reported sales of 34.59 billion riyals in the first quarter of 2025, a 5.8% increase compared to 32.69 billion riyals a year earlier, reported Reuters.
The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.
Saudi Chemicals Group SABIC Reports Q1 Net Loss of $323 Million

File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
Saudi Chemicals Group SABIC Reports Q1 Net Loss of $323 Million

File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
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