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Sabic Q2 losses reach 592M Riyals
SABIC (Saudi Basic Industries Corporation) faced losses of 591.9 million riyals in the second quarter of 2026, representing a 249.82% increase compared to the same period last year. The results were characterized by higher prices for feedstocks such as butane, ethylene, and propane. However, a decline in sales due to supply chain challenges led to inventory buildup and a 54.84% decrease in revenues, which fell to 860.9 million riyals. The company's profits were also impacted by increased losses from its investments in associate companies and higher impairment provisions, resulting in a reversal from the profit it posted in the first half of 2025. Instead of gains, it recorded a net loss of 807.2 million riyals, compared to a previous profit of 26.1 million riyals.
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