National Industrialization Company (2060) Q4 2025 earnings summary

Executive summary

• 2025 was marked by global economic uncertainty, supply chain disruptions, and lower product prices, impacting operational and financial results.

• Strategic focus remained on maximizing asset value, expanding petrochemicals, and divesting non-core businesses.

• Major achievements included feedstock allocation for a new gas cracker, SEPC cracker expansion, and Acrylic Complex restructuring.

• ESG strategy was launched, targeting net-zero carbon emissions by 2060 and improved ESG ratings.

• Divestment of the plastics downstream business was announced, sharpening focus on core petrochemicals.

Financial highlights

• Revenue declined 18% year-over-year to SR 2.49 billion due to lower selling prices and volumes.

• Net loss widened to SR 1.77 billion from SR 28 million in 2024, mainly due to non-cash impairments of SR 2.1 billion and investment write-downs.

• Gross profit remained flat at SR 85 million; EBITDA was negative SR 755 million.

• Total assets decreased to SR 20.8 billion, and total liabilities to SR 10.7 billion.

• EPS dropped to SR (2.64) from SR (0.04) in 2024.

Outlook and guidance

• 2026 is expected to bring continued market volatility due to geopolitical risks and supply chain disruptions.

• SEPC cracker expansion to complete in H1 2026, increasing olefins capacity by 18%.

• Focus remains on operational efficiency, cost optimization, and digital transformation.

• Decarbonization roadmap in place, aiming for net-zero by 2060.