Saudi chemicals group SABIC reports Q1 net loss of $323 million

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.

Saudi’s SABIC gives go-ahead for $6.4bn China petrochemical plant

The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.