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Saudi Arabia: 16.5 billion riyals of “SABIC” profits in 2022

Saudi Basic Industries Company (SABIC) announced the financial results for the fiscal year ending on December 31, 2022. As it recorded profits amounting to 16.5 billion riyals, compared to 23.07 billion riyals for the fiscal year 2021, a decrease of 28.4 per cent.

The decrease in net profit during this year compared to the previous year is due to the decline in profit margins for most of the primary products, mainly driven by the increase in average feedstock prices and the increase in shipping and distribution costs with a net amount of 1.49 billion riyals.

Item Current year Previous year Changes%
Sales/Revenue 198.47 174.88 13.49
Gross profit (loss) 42.67 47.88 -10.88
Operating profit (loss) 23.88 33.6 -28.93
Net profit (loss) after zakat and tax 16.53 23.07 -28.35
Total comprehensive income 18.23 22.86 -20.25
Total shareholders’ equity (after excluding minority interests) 186.05 180.14 3.28
Earnings (loss) per share 5.51 7.69  

All figures are in (billion) Saudi riyals


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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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