Saudi Equity Research - Saudi Basic Industries Corporation (SABIC) 2Q25 - First Look Note
Petrochemicals revenue declined 2.8% YOY and increased 2.9% QOQ to SAR 32.4 Bn in 2Q25, while Agri-Nutrients rose 32.3% YOY and 2% QOQ to SAR 3.2 Bn. Total Revenue increased 2.8% QOQ, primarily due to licensing revenue of SAR 863 Mn along with increased sales volume in 2Q25. Petrochemicals segment EBITDA declined 24.7% YOY to SAR 3.7 Bn in 2Q25, whereas Agri-Nutrients EBITDA expanded 51.2% YOY to SAR 1.2 Bn.
