SABIC, a leading company in the chemicals industry, has reported its financial results for the first quarter of 2025. The company recorded a net loss of SAR 1.2 billion, which marks a 36% improvement compared to the SAR 1.9 billion loss in the previous quarter.
CEO Abdulrahman Al-Fageeh attributed the quarterly loss to one-time costs associated with business restructuring. He emphasized that these costs "will reflect positively on the company's long-term financial results and contribute to controlling its expenses." Al-Fageeh also noted the impact of global economic slowdown and market uncertainties on demand for petrochemical products, stating, “The oversupply of petrochemicals continues to pressurize product prices and, in turn, profit margins.”
Despite these challenges, SABIC reported a 17% improvement in its Safety, Health, and Environment Rate (SHER) compared to the same period last year. Al-Fageeh highlighted this achievement as part of the company's commitment to maintaining excellence within the petrochemical industry.
During a press conference at SABIC’s headquarters in Riyadh on May 4, Al-Fageeh discussed recent developments related to SABIC’s operations. He reaffirmed SABIC’s strong financial standing and commitment to cost optimization efforts aimed at enhancing efficiency and competitiveness.
Al-Fageeh also emphasized that all growth projects are progressing according to planned timelines. He mentioned SABIC's receipt of Edison Awards for six innovative solutions this year, marking the fifth consecutive year it has received such recognition.
Looking forward, SABIC plans to continue strengthening its strategy and developmental programs by leveraging its strong financial position and resilience amid changing circumstances.
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