Saudi Gazette report
RIYADH — Saudi Fundamental Industries Corp. (SABIC), the Center East’s largest petrochemicals and fertilizers producer, reported a internet lack of SR5.28 billion ($1.41 billion) for the primary half of 2025, in contrast with a revenue of SR2.43 billion in the identical interval final yr.
The corporate attributed the loss primarily to a SR3.78 billion impairment cost tied to the closure of its Teesside cracker unit in the UK throughout the second quarter, a part of a portfolio assessment geared toward slicing prices and enhancing profitability.
Extra elements included SR1.07 billion in one-off restructuring prices, a SR1.07 billion drop in earnings from non-integrated joint ventures and associates — largely attributable to asset write-downs in Europe — and a SR694 million zakat expense, in contrast with a SR214 million non-cash acquire a yr earlier.
H1 revenues rose 3% year-on-year to SR70.16 billion, pushed by greater gross sales volumes regardless of decrease common promoting costs. The determine included SR863 million from licensing and engineering companies.
For the second quarter, SABIC reported losses versus a revenue within the year-ago interval, citing the Teesside impairment, a SR1.02 billion decline in earnings from joint ventures and associates, a SR517 million enhance in fairness by-product prices from revaluation, and zakat bills of SR284 million, in contrast with a SR545 million non-cash acquire in Q2 2024. Quarterly revenues have been steady at SR35.57 billion.
In comparison with the primary quarter, the second-quarter loss widened on the again of the Teesside impairment, an SR838 million drop in JV and affiliate outcomes, and a SR455 million enhance in fairness by-product prices. Revenues rose 3% from the earlier quarter.
Shareholders’ fairness, excluding minority pursuits, stood at SR153.88 billion on the finish of the interval, down from SR163.91 billion a yr earlier.
SABIC mentioned it has adopted adjusted monetary indicators from Q2 2025 to strip out non-recurring objects and supply a clearer view of operational efficiency.
The corporate additionally restated sure 2024 opening balances to replicate changes to its funding in Marafiq, a 17.5% affiliate, with no impression on earnings statements.
The corporate reiterated it’s nonetheless evaluating strategic choices for its subsidiary, Nationwide Industrial Gases Co. (GAS), together with a possible IPO, topic to regulatory approvals and market situations.
