RIYADH — SABIC announced on Sunday a net loss of SR1.2 billion for the first quarter of 2025 — a 36% improvement from the SR1.9 billion loss recorded in the previous quarter, driven by one-time restructuring costs and continued global market pressures. CEO Abdulrahman Al-Fageeh attributed the quarterly loss primarily to expenses related to business restructuring, which he said are expected to yield positive long-term results by enhancing cost control. He also cited a global economic slowdown, market uncertainty, and oversupply in the petrochemical sector as key factors impacting demand and margins. "The oversupply of petrochemicals continues to pressurize product prices and, in turn, profit margins," Al-Fageeh said at a press conference held at SABIC headquarters in Riyadh on May 4. Despite the challenging environment, Al-Fageeh highlighted improvements in SABIC's Environment, Health, Safety, and Security (EHSS) performance, noting a 17% year-on-year enhancement in the company's Safety, Health, and Environment Rate (SHER). He reaffirmed SABIC's strong financial standing and ongoing efforts to optimize costs, improve efficiency, and maintain competitiveness globally. Al-Fageeh also emphasized that SABIC's strategic growth projects remain on track and aligned with planned timelines. SABIC's CEO spotlighted the company's global innovation achievements, including six Edison Awards received this year — the fifth consecutive year SABIC has earned such recognition for its industrial solutions.
