Riyadh - Mubasher: Saudi Basic Industries Corporation (SABIC) turned to net losses worth SAR 1.21 billion during the first quarter (Q1) of 2025, versus a net profit of SAR 250 million in Q1-24.
Meanwhile, the revenues stood at SAR 34.59 billion in Q1-25, marking a growth of 5.81% year-on-year (YoY) from SAR 32.69 billion, according to the financial results.
The loss per share stood at SAR 0.40 as of 31 March 2025, against earnings per share (EPS) amounting to SAR 0.08 in the same period a year earlier.
Quarter-on-quarter (QoQ), the Q1-25 net losses shrank by 35.97% from SAR 1.89 billion in Q4-24, while the revenues declined by 0.31% from SAR 34.70 billion.
In 2024, SABIC recorded a net profit of SAR 1.54 billion, reversing a net loss of SAR 2.77 billion in 2023.
