SABIC announces financial results for the first quarter 2026

SABIC today announced its financial results for the first quarter 2026, reporting an adjusted EBITDA of SAR 4.15 billion [US$ 1.11 billion] an increase of 25% compared to Q4 2025.

FIRST QUARTER 2026 HIGHLIGHTS:

•          Revenue of SAR 26.15 billion [US$ 6.97 billion], a decrease of 6% Q-o-Q.

•          Adjusted EBITDA of SAR 4.15 billion [US$ 1.11 billion], an increase of 25% Q-o-Q.

•          Adjusted EBIT of SAR 1.45 billion [US$ 0.39 billion], a Q-o-Q increase of SAR 1.01 billion [US$ 0.27 billion].

•          Adjusted net income of SAR 816 million [US$ 218 million], a Q-o-Q increase of SAR 2.21 billion [US$ 0.59 billion].

•          Adjusted earnings per share of SAR 0.27 [US$ 0.07], a Q-o-Q increase of SAR 0.74 [US$ 0.2].

•          Net debt position of SAR 2.77 billion [US$ 0.74 billion] as of March 31, 2026, compared to a net cash position of SAR 3.61 billion [US$ 0.96 billion] as of December 31, 2025.

DR. FAISAL ALFAQEER, CEO AND EXECUTIVE BOARD MEMBER:

“In Q1 2026, we continued to make meaningful progress according to our strategic agenda of portfolio optimization, corporate transformation, and selective growth.  At the core of this progress is our unwavering commitment to operational excellence, with Environment, Health, Safety, and Security (EHSS) remaining top priorities.

As part of our strong EHSS performance in the first quarter, we achieved a Total Recordable Incident Rate of 0.08, maintaining our best-in-class performance.

We are following through on the two agreements announced at the start of the quarter to divest our European Petrochemicals business and our Engineering Thermoplastics business in the Americas and Europe. These decisive actions are aligned with our strategy to enhance capital allocation, strengthen SABIC’s financial resilience, and position the company for growth in profitable markets.

At the same time, our transformation journey continues to deliver performance improvements that unlock greater value for our shareholders. We realized 220 million US dollars at the EBITDA level on a recurring basis during the first quarter of 2026, in line with our planned improvement rate. This keeps us on track toward our cumulative 2030 annual target of 3 billion US dollars, consisting of 1.40 billion dollars in cost excellence and 1.60 billion dollars in value creation.

In terms of selective growth, we are advancing a number of capital projects in a disciplined way. The execution of the SABIC Fujian project continues as planned, now reaching approximately 98% completion. The Ministry of Energy’s announced feedstock-allocation approval enables the potential expansion of our annual urea production capacity from approximately 4.8 million tons to 7.4 million tons—a 54% increase. This milestone reinforces SABIC Agri-Nutrients’ position as a national champion and a global leader in the nitrogenous fertilizer market.

Finally, we signed a strategic agreement with the Public Investment Fund–Pirelli joint venture, enabling the joint venture to manufacture 3.5 million tires annually in the Kingdom. This agreement supports the localization agenda of our NUSANED program, while contributing to long-term economic growth and industrial development in Saudi Arabia.”