SABIC (2010) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was stable at $9.23 billion (SAR 34.59 billion), flat sequentially and up 6% year-over-year, despite market challenges.

• Net loss was $323 million (SAR 1.21 billion), an improvement from the previous quarter but down year-over-year.

• EBITDA was $670 million (SAR 2.5 billion), impacted by $300 million in restructuring costs; adjusted EBITDA was $1 billion (SAR 3.7 billion), up 7% sequentially.

• Strategic workforce optimization and restructuring initiatives are expected to yield over $90 million in annual cost savings.

• Major growth projects in China and Saudi Arabia are progressing on schedule, with sustainability milestones achieved.

Financial highlights

• Revenue for Q1 2025 was $9.23 billion (SAR 34.59 billion), flat quarter-over-quarter and up 6% year-over-year.

• EBITDA margin before special items reached 11% in Q1 2025, up from 10% in Q4 2024.

• Net income was negative $323 million (SAR 1.21 billion), improved from the previous quarter.

• Free cash flow was negative at $0.36 billion (SAR 1.35 billion) due to lower cash from operations and restructuring costs.

• S&P upgraded the long-term credit rating to A-plus.

Outlook and guidance

• 2025 capital investment is projected between $3.5 billion and $4 billion.

• Guidance is based on slow economic growth, with global GDP growth expected at 2.2–2.97%.

• Focus remains on operational excellence, transformation, and selective growth.