SNG: Saudi: Sipchem’s net profits fall 91.5% in H1-25; revenues hit $1.01bln

-1.19%

SIPCHEM

2310.SA

15.73

-1.19%

First published: 22-Jul-2025 09:59:20

Mubasher

Riyadh – Sahara International Petrochemical Company (Sipchem) posted 91.38% lower net profits at SAR 26.10 million in the first half (H1) of 2025, versus SAR 303 million in H1-24.

The Saudi group generated revenues amounting to SAR 3.87 billion at the end of June 2025, up 4.90% year-on-year (YoY) from SAR 3.69 billion, according to interim financial results.

Earnings per share (EPS) plummeted to SAR 0.04 in the first six months (6M) of 2025 from SAR 0.42 a year earlier.

Income Results for Q2-25

During the second quarter (Q2) of 2025, the company swung to net losses amounting to SAR 169.20 million, compared to net profits of SAR 121.50 million in Q2-24.

The revenues jumped by7.68% to SAR 1.90 billion in April-June 2025 from SAR 1.77 billion in Q2-24.

On a quarterly basis, Sipchem turned to net losses in Q2-25 against net profits of SAR 195.30 million in Q1-25, while revenues declined by 3.22% from SAR 1.96 billion.

On 17 July, the company paid out cash dividends worth SAR 362.56 million to shareholders for H1-25.

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