SABIC H1 2026 Revenues Decline 14.3% to SAR 50.96B, Net Losses Narrow to SAR 820M

Wednesday 29 July 2026 09:12

The Saudi Basic Industries Corporation (SABIC) reported a 14.3% year-on-year decline in revenues for the first half of 2026, reaching SAR 50.96 billion, driven by persistent headwinds in the global petrochemicals sector and ongoing supply chain and logistics challenges.

H1 2026 Financial Highlights

Despite the revenue contraction and operational pressures, the company managed to significantly trim its bottom-line losses:

Gross Profit: Fell 15.9% YoY to SAR 9.48 billion.

Operating Profit: Decreased 27.3% YoY to SAR 2.16 billion.

Net Loss: Net loss attributable to shareholders narrowed by 84.5% YoY to SAR 820 million, compared to a loss of SAR 5.28 billion recorded during the same period in 2025.

Q2 2026 Operational Performance

Preliminary financial results revealed that operational performance came under accentuated pressure during the second quarter of 2026:

Revenue: Recorded SAR 24.81 billion, down 17.9% YoY and 5.1% quarter-on-quarter (QoQ).

Gross Profit: Dropped 30.1% YoY to SAR 4.35 billion.

Operating Profit: Fell sharply by 73.4% YoY and 51% QoQ to SAR 710 million.