“Saudi entity” incurred losses of 496.35 million riyals in the second quarter

The losses of the Saudi Petrochemical Company in the second quarter of 2025 were exacerbated by 98.5%, recording a net loss of 496.35 million riyals, compared to losses of 250.09 million riyals in the same quarter of last year.
According to the company’s statement on Saudi Arabia’s circulation, the reason for the rise in net loss during this quarter compared to the same quarter of the previous year is due to the decrease in the average price of selling products in addition to the high cost of some production inputs.
It should be noted that the similar quarter of the previous year included the collection of a partial insurance amount for the Bosfinol Factory accident of 130 million riyals, according to what was previously announced.
The reason for the decrease in the net loss during this quarter compared to the previous quarter is due to the low cost of production inputs and the high quantities sold,
It should be noted that the previous quarter included an unenviable cost related to restructuring as part of the transformation program.
The reason for the high net loss during the first half of 2025 compared to the similar period in the previous year is due to the high cost of production inputs, as well as the decrease in the average price of selling products despite the high quantities sold.
It should be noted that the similar period in the previous year included the collection of a partial insurance amount for the Busnol Factory accident of 177 million riyals in addition to what was announced in the previous quarter regarding the unenviable cost related to the re -financing of Islamic Murabaha loans and restructuring as part of the transformation program.