SABIC Q1 2026 results
- Adjusted EBITDA rose 25% Q-o-Q to SAR 4.15 billion; revenue fell 6% Q-o-Q to SAR 26.15 billion; adjusted net income was SAR 816 million.
- Announced divestments of the European Petrochemicals business and Engineering Thermoplastics businesses in the Americas and Europe.
- SABIC Fujian project is ~98% complete; urea capacity could expand from ~4.8 to 7.4 million tonnes (+54%); a PIF-Pirelli JV agreement targets local production of 3.5 million tires/year.
Financial results
Q1 adjusted EBITDA rose 25% Q‑o‑Q to SAR 4.15 billion; revenue declined 6% Q‑o‑Q to SAR 26.15 billion. Adjusted EBIT was SAR 1.45 billion and adjusted net income SAR 816 million; adjusted EPS SAR 0.27. Net debt was SAR 2.77 billion as of March 31, 2026, versus net cash SAR 3.61 billion at December 31, 2025.
Portfolio and transformation
Announced divestments of the European petrochemicals business and engineering thermoplastics businesses in the Americas and Europe. Realized recurring EBITDA savings of US$220 million in Q1 and remains on track to a cumulative 2030 annual target of US$3 billion (US$1.40 billion cost excellence, US$1.60 billion value creation).
Projects and capacity
SABIC Fujian project is approximately 98% complete. Ministry of Energy feedstock‑allocation approval could allow urea capacity expansion from about 4.8 to 7.4 million tonnes annually (+54%). Signed agreement with the PIF‑Pirelli joint venture to enable manufacture of 3.5 million tyres per year in the Kingdom.
Operational safety
Total Recordable Incident Rate reported at 0.08 for the quarter.
Source: SABIC