SABIC Agri-Nutrients (2020) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached SAR 3.07 billion, up 22% year-over-year, driven by higher netback prices despite increased feedstock costs from Saudi Aramco.

• Net income for the period was SAR 1.01 billion, a 15% increase compared to Q1 2024.

• Strategic workforce optimization led to a severance package expense of SAR 74.7 million, recognized in other operating expenses.

Financial highlights

• Gross profit rose to SAR 1.17 billion from SAR 988 million year-over-year.

• Operating income increased to SAR 857 million from SAR 730 million in Q1 2024.

• Basic and diluted EPS was SAR 2.07, up from SAR 1.77 in Q1 2024.

• Cash and cash equivalents at period end were SAR 1.77 billion, down from SAR 7.81 billion at year-end 2024, mainly due to significant short-term investment placements.

• Net cash generated from operating activities was SAR 737 million, while net cash used in investing activities was SAR 5.35 billion.

Outlook and guidance

• Management expects all unfulfilled performance obligations as of 31 March 2025 to be satisfied in the following period.