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Saudi company Sipchem’s profit rises 7.6% in first quarter to $52.1 million thanks to higher sales
Sahara International Petrochemical Company (Sipchem) made a net profit of $52.1 million (SAR 195.3 million) in the first quarter of 2025, which is 7.6% more than the same time last year, according to a stock market report on Monday.
Sipchem’s Financial Performance
Sipchem’s net profit grew because its revenue went up by 2.3%, reaching $525.2 million (SAR 2 billion) in the first quarter of 2025. This is compared to $513.1 million (SAR 1.9 billion) in the same quarter of 2024, according to a report on the Saudi stock market (Tadawul).
The higher revenue came from increased prices for some products and higher sales, even though the company spent more on raw materials and feedstock.
Sipchem also earned more money from its investments in other companies, which helped raise its net profit.
The company’s total income (after accounting for all items) slightly increased by 1.2%, reaching $50.4 million (SAR 188.9 million) in the first quarter of 2025, compared to $49.8 million (SAR 186.6 million) a year earlier.
However, Sipchem’s gross profit (profit after direct costs) dropped sharply by 66.8% to $42.5 million (SAR 159.5 million).
The company also reported an operating loss of $14.8 million (SAR 55.6 million) in the first quarter of 2025. This is a big drop from an operating profit of $78.5 million (SAR 294.3 million) in the same quarter last year.
Share Price
As of 1:35 pm AST on Monday, Sipchem’s share price rose by 4.3% to $5.04 (SAR 18.9). This gave the company a total market value of $3.5 billion (SAR 13.3 billion).
Published: 13th May 2025
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