Riyadh — Mubasher: Saudi Basic Industries Corporation (SABIC) posted a net loss of SAR 820 million in the first half (H1) of 2026, representing an 84.47% decline from the SAR 5.28 billion net loss recorded in H1-25.

The petrochemical major SABIC saw its six-month revenue fall by 14.34% to SAR 50.96 billion in January-June 2026 from SAR 59.49 billion a year earlier, according to a bourse filing.

Operating profit reached SAR 2.16 billion in H1-26, down 27.27% from SAR 2.97 billion in the previous year.

The company noted that while sales volumes decreased, higher average selling prices helped mitigate the impact on the top line.

Total equity stood at SAR 123.53 billion as of 30 June 2026.

Second Quarter Results

For the second quarter (Q2) of 2026, the company posted a net loss of SAR 833 million, reflecting a significant improvement from the SAR 4.07 billion net loss in Q2-25.

SABIC attributed the year-on-year (YoY) recovery to a SAR 3.79 billion reduction in losses from discontinued operations, primarily due to non-recurring impairment provisions related to the Teesside cracker closure in the UK recorded in 2025.

SABIC also announced a dividend distribution of SAR 3.30 billion for the first six months (6M) of 2026.

In Q1-26, SABIC shifted to net profits worth SAR 13 million ($3.52 million). Meanwhile, the net income of the company was SAR 816 million ($218 million) on an adjusted basis.