Sabic reports Q2 net loss of 833M riyals
Saudi Basic Industries Corporation (SABIC) recorded net losses of 833 million Riyals in the second quarter of 2026, compared to a loss of 4.07 billion Riyals in the same period of the previous year, reflecting a 79.6% improvement. Revenues declined by 17.9% to 24.81 billion Riyals, and gross profit decreased by 30% to 4.35 billion Riyals. Despite the downturn in performance, lower losses from discontinued operations and better results from joint ventures contributed to an overall improvement in net losses, although operating profit dropped by 73.4% to 710 million Riyals. On a half-year basis, revenues fell to 50.96 billion Riyals, and the company posted a net loss of 820 million Riyals, compared to larger losses in the first half of 2025. This indicates ongoing operational pressures on the company despite the relative improvement in results.
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