Petro Rabigh incurs $184.26mln losses in Q1-25; revenues hike 44%
Riyadh – Rabigh Refining and Petrochemical Company (Petro Rabigh) reported an annual plunge of 49.37% in net loss to SAR 691 million during the first quarter (Q1) of 2025, compared to SAR 1.36 billion.
The company's revenues increased by 43.95% to SAR 11.49 billion in Q1-25 from SAR 7.98 billion a year earlier, according to the financial results.
Loss per share reached SAR 0.41 as of 31 March 2025, down from SAR 0.82 in Q1-24.
Quarterly, the Q1-25 revenues edged up by 0.84% from SAR 11.39 billion in the three-month period that ended on 31 December 2024, while the net losses fell by 11.41% from SAR 780 million.
Accumulated Losses
The group incurred accumulated losses valued at SAR 5.96 billion as of 31 March 2025, equivalent to 35.72% of the capital.
Petro Rabigh suffered 3.15% YoY lower net losses at SAR 4.54 billion in 2024, compared to SAR 4.69 billion.
Source: Mubasher
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