SABIC turns profitable at SAR 13m in Q1-26 with revenue exceeding SAR 26bn
SABIC
2010 0.49% 61.15 0.30
Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) achieved net income attributable to the shareholders at SAR 13 million ($3.52 million) in the first quarter (Q1) of 2026.
The positive results marked a shift from net losses of SAR 1.21 billion in Q1-25.
On an adjusted basis, however, the net income of SABIC in Q1-26 was SAR 816 million ($218 million), according to a press release.
The revenue reached SAR 26.15 billion ($6.97 billion) in Q1-26, declining by 10.65% from SAR 29.27 billion in Q1-25.
The earnings per share (EPS) stood at SAR 0.004 in Q1-26, turning from a loss per share of SAR 0.40 in Q1-25.
On a quarterly basis, SABIC also tuned to profits in Q1-26 versus a net loss to the owners at SAR 20.94 billion in Q4-25.
The January-March 2026 revenue, meanwhile, reflected a 6.44% decrease from SAR 27.95 billion in the October-December 2025 period. SABIC attributed the decline to lower sales volume, partially offset by higher average selling prices across key products.
Furthermore, income from operations (EBIT) was SAR 1.45 billion ($390 million) in Q1-26.
EBITDA was SAR 4.15 billion ($1.11 billion), increasing by 36% compared to Q4-25. On an adjusted basis, EBITDA increased by 25% quarter-on-quarter (Q-o-Q), mainly due to improved margins despite of the lower sales volumes.
The EBITDA margin for Q1-26 was 15.9% on both an unadjusted and adjusted basis. In Q4-25, the adjusted EBITDA margin was 11.9%.
The CEO and Executive Board Member of SABIC, Faisal Al Faqeer, said: “In Q1-26, we continued to make meaningful progress according to our strategic agenda of portfolio optimization, corporate transformation, and selective growth. At the core of this progress is our unwavering commitment to operational excellence, with Environment, Health, Safety, and Security (EHSS) remaining top priorities.”
Al Faqeer elaborated: “As part of our strong EHSS performance in Q1, we achieved a Total Recordable Incident Rate of 0.08, maintaining our best-in-class performance.”
The CEO added: “We are following through on the two agreements announced at the start of the quarter to divest our European Petrochemicals business and our Engineering Thermoplastics business in the Americas and Europe. These decisive actions are aligned with our strategy to enhance capital allocation, strengthen SABIC’s financial resilience, and position the company for growth in profitable markets.”
“At the same time, our transformation journey continues to deliver performance improvements that unlock greater value for our shareholders. We realized $220 million at the EBITDA level on a recurring basis during Q1-26, in line with our planned improvement rate. This keeps us on track toward our cumulative 2030 annual target of $3 billion, consisting of $1.40 billion in cost excellence and $1.60 billion in value creation,” the official noted.
He further said: “In terms of selective growth, we are advancing a number of capital projects in a disciplined way. The execution of the SABIC Fujian project continues as planned, now reaching approximately 98% completion. The Ministry of Energy’s announced feedstock-allocation approval enables the potential expansion of our annual urea production capacity from approximately 4.8 million tons to 7.4 million tons—a 54% increase. This milestone reinforces SABIC Agri-Nutrients’ position as a national champion and a global leader in the nitrogenous fertilizer market.”
Al Faqeer concluded: “Finally, we signed a strategic agreement with the Public Investment Fund–Pirelli joint venture, enabling the joint venture to manufacture 3.5 million tires annually in the Kingdom. This agreement supports the localization agenda of our NUSANED program, while contributing to long-term economic growth and industrial development in Saudi Arabia.”
In 2025, the listed giant SABIC incurred net losses of SAR 25.78 billion while its revenue hit SAR 116.53 billion.
Source: Mubasher Source: {{details.article.source}}