Yanbu National Petrochemical (2290) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was SAR 1,512 million, up 8.7% year-over-year, but net income dropped sharply to SAR 13.7 million from SAR 99.5 million in Q1 2024, mainly due to higher feedstock prices and a one-time severance expense.

• Comprehensive income for the period was SAR 15.9 million, including a re-measurement gain on defined benefit plans.

Financial highlights

• Gross profit declined to SAR 153.9 million from SAR 228.6 million year-over-year.

• Operating income fell to SAR 7.97 million from SAR 101.1 million in Q1 2024.

• Basic and diluted EPS dropped to SAR 0.02 from SAR 0.18 year-over-year.

• Cash and cash equivalents increased to SAR 103.2 million from SAR 97.7 million at year-end 2024.

Outlook and guidance

• Profitability is expected to remain under pressure due to elevated feedstock prices.

• No significant subsequent events after the reporting period that would materially impact the financial position.