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Sabic reports Q2 net loss of 833M SAR
SABIC, the Saudi company, reduced its net losses by approximately 79.6% in the second quarter of 2026 compared to the same period last year. It recorded losses of 833 million riyals, compared to 4.07 billion riyals in the previous year, thanks to a decline in losses from non-core operations and improved results from associates and joint ventures, despite a decrease in revenues and operating profit. The company's revenues declined by about 17.9% to 24.81 billion riyals, and it shifted to a quarterly loss from a net profit earlier in the year, with half-year losses totaling 820 million riyals, down about 84.5%. The improvement is mainly due to the lower losses from assets related to the closure of the Tieside unit at the UK factory and better results from associate companies, despite ongoing pressures on revenues and profitability.
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