Saudi SABIC Reports Revenue Growth, Rise in EBITDA in Q3 2026

Saudi Basic Industries Corporation (SABIC) reported a 14 per cent quarter-on-quarter increase in revenue and a 40 per cent rise in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the third quarter of 2026.

Revenue reached SAR28.17 billion (US$7.51 billion), while adjusted EBITDA rose to SAR4.75 billion (US$1.27 billion), according to the company’s financial results.

Adjusted earnings before interest and taxes (EBIT) increased 434 per cent quarter-on-quarter to SAR2.17 billion (US$580 million).

Adjusted net income stood at SAR840 million (US$220 million), compared with an adjusted net loss of SAR380 million (US$100 million) in the previous quarter.

Adjusted earnings per share reached SAR0.28 (US$0.07), reversing a loss of SAR0.13 (US$0.03) per share in the second quarter.

SABIC’s net debt stood at SAR3.03 billion (US$810 million) as of September 30, 2026, compared with SAR2.73 billion (US$730 million) at the end of June.

Dr Faisal Alfaqeer, CEO and Executive Member of the Board, said: “In 3Q2026, SABIC demonstrated exceptional resilience, despite geopolitical developments and market headwinds, coupled with a clear and robust forward-looking vision and continued focus on strategic objectives, namely portfolio optimisation, transformation and selective growth, in efforts to support the company’s long-term profitability and value creation for shareholders, building on its historic journey of more than five decades.”

Key developments during the quarter included SABIC Agri-Nutrients’ final investment decision to build a new ammonia and urea complex in Saudi Arabia, with annual production capacities of 1.2 million tonnes of ammonia and 2.6 million tonnes of urea.

The project is expected to increase the company’s urea production capacity by 54 per cent compared with current levels.

The Ministry of Energy also allocated feedstock for a new methanol plant in Jubail, with an annual production capacity of 1.8 million tonnes, supporting SABIC’s expansion in strategic markets.

The company completed the divestment of its engineering thermoplastics business in the Americas and Europe for an enterprise value of US$450 million, as part of its portfolio optimisation programme.

On transformation, SABIC reported achieving SAR 3.56 billion (US$950 million) of the recurring EBITDA impact targeted by 2030, against an overall goal of SAR 11.3 billion (US$3 billion).

The company also secured a 2025 Local Content Certificate from the Local Content and Government Procurement Authority, recording a local content score of more than 61 per cent, an increase of over 9 per cent from 2024.

SABIC said efforts to strengthen domestic industry included several agreements, including a recently signed memorandum of understanding with Lenovo.

Separately, the company reported a total recordable incident rate of 0.06 during the quarter, highlighting its continued focus on workplace safety.