Latest news with #Luberef
Zawya
05-05-2025
- Business
- Zawya
Saudi: Luberef announces $59mln net profits in Q1-25
Saudi Aramco Base Oil Company (Luberef) logged net profits valued at SAR 221.50 million in the first quarter (Q1) of 2025, lower by 7.32% than SAR 239.01 million in Q1-24. The revenues declined by 2.60% year-on-year (YoY) to SAR 2.12 billion in Q1-25 from SAR 2.18 billion, according to the income statements. The earnings per share (EPS) hit SAR 1.32 in the first three months (3M) of 2025, down from SAR 1.42 in Q1-24. Meanwhile, on a quarterly basis, the Q1-25 net profits by 6.38% from SAR 208.21 million in Q4-24, while the revenues dropped by 18.99% from SAR 2.62 billion. In 2024, Luberef's net profits declined by 35.61% to SAR 972.02 million, compared with SAR 1.50 billion in 2023. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Arab News
04-05-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 11,411
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Sunday, losing 132.17 points, or 1.14 percent, to close at 11,411.50. The total trading turnover of the benchmark index was SR3.5 billion ($944.3 million), as 41 stocks advanced and 198 retreated. Similarly, the Kingdom's parallel market Nomu lost 116.45 points, or 0.41 percent, to close at 28,013.32. This comes as 30 of the listed stocks advanced while 39 retreated. The MSCI Tadawul Index lost 20.74 points, or 1.41 percent, to close at 1,451.17. The best-performing stock of the day was Umm Al Qura for Development and Construction Co., whose share price surged 2.77 percent to SR25.95. Other top performers included National Industrialization Co., which saw its share price rise 2.26 percent to SR9.49, and Arabian Contracting Services Co., whose share price increased 1.69 percent to SR132.00. Zahrat Al Waha for Trading Co. recorded the most significant drop, falling 7.05 percent to SR27.70. Saudi Automotive Services Co. saw its stock prices fall 5.67 percent to SR61.50. Emaar The Economic City also saw its stock prices decline 4.50 percent to SR14.00. On the announcements front, Dar Alarkan Real Estate Development Co. reported its interim financial results for the period ending March 31. According to a Tadawul statement, the company posted a net profit of SR209.34 million in the first quarter of 2025, marking a 36.2 percent increase compared to the same quarter in 2024. The rise in net income was primarily driven by higher property sales. Increased lease revenues, lower finance costs, and greater non-operating income from Islamic Murabaha deposits also contributed to the gains, though these were partially offset by higher operating expenses and reduced earnings from associates. Dar Alarkan Real Estate Development Co. ended the session at SR21.04, down 1.05 percent. Saudi Aramco Base Oil Co. – Luberef has announced its interim financial results for the first quarter of 2025. A bourse filing showed the company recorded a net profit of SR221.5 million for the period ending March 31, reflecting a 7.3 percent decline compared to the same quarter last year. The drop in earnings was mainly due to lower by-product crack margins, despite an increase in base oil crack margins. Luberef's shares closed the session at SR98.70, down 0.20 percent. Dr. Sulaiman Al Habib Medical Services Group has announced its interim financial results for the period ending March 31. According to a Tadawul statement, the firm posted a net profit of SR557.01 million in the first quarter of 2025, marking a 1.09 percent increase compared to the same quarter in 2024. The growth was primarily driven by higher revenue, although fixed operating costs from recent strategic expansions have temporarily weighed on profit margins. These expansions are still ramping up and are expected to gradually reach full operational efficiency. The company's shares closed at SR289.00, down 2.15 percent. The National Agricultural Development Co. reported its consolidated financial results for the first quarter of 2025, posting a net profit of SR103.42 million for the period ending March 31 — a 2.06 percent rise compared to the year-earlier period. The increase was supported by higher revenue, reduced general and administrative expenses, stronger operating profit, and increased treasury income. These gains were partially offset by higher cost of sales, increased impairment losses on trade and other receivables, and a decline in finance costs. NADEC shares ended the session at SR22.20, down 1.54 percent. Saudi Basic Industries Corp. announced a net loss of SR1.21 billion for the first quarter of 2025, compared to a net profit of SR250 million in the same period last year. The loss was primarily due to a SR1.05 billion decline in gross profit, driven by higher feedstock prices and increased operating expenses. These included non-recurring costs of SR1.07 billion linked to a strategic restructuring initiative aimed at improving long-term performance and reducing costs. SABIC shares closed at SR60.70, down 2.77 percent.
Zawya
20-02-2025
- Business
- Zawya
Saudi Luberef records solid 2024 results; revenue hits $2.6bln
Saudi Aramco Base Oil Company (Luberef), one of the world's leading suppliers of base oils, has announced solid results for FY 2024 with its revenues for the 12 months surging to hit SAR10.03 billion ($2.6 billion), up 5.8% over the previous year's figure of SAR9.48 billion ($2.5 billion) mainly due to increase in by-products sales volumes as well as by-product prices despite a plunge in base oil prices. Announcing the results for the 12-month period ended December 31, 2024, Luberef said however, its net profit plunged 35% to SAR972.02 million from the previous year's figure of SAR1.5 billion. This was mainly due to a decrease in base oils and by-products crack margins despite the increase in base oil sales volumes, said Luberef in its filing to Saudi bourse Tadawul. Meanwhile, the earnings per share (EPS) retreated to SAR5.78 in 2024 from SAR8.98 a year earlier, it added. Impressed with the results, the board members have proposed cash dividends to shareholders valued at SAR518.22 million for the second half of 2024. This brings the full-year dividends to SAR6.68 per share, which is approximately 70% of free cash flow according to the performance-linked distribution policy. Luberef will disburse a dividend of SAR3.08 per share for 168.25 million eligible shares, it added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
20-02-2025
- Business
- Trade Arabia
Saudi Luberef records solid 2024 results; revenue hits $2.6bn
Saudi Aramco Base Oil Company (Luberef), one of the world's leading suppliers of base oils, has announced solid results for FY 2024 with its revenues for the 12 months surging to hit SAR10.03 billion ($2.6 billion), up 5.8% over the previous year's figure of SAR9.48 billion ($2.5 billion) mainly due to increase in by-products sales volumes as well as by-product prices despite a plunge in base oil prices. Announcing the results for the 12-month period ended December 31, 2024, Luberef said however, its net profit plunged 35% to SAR972.02 million from the previous year's figure of SAR1.5 billion. This was mainly due to a decrease in base oils and by-products crack margins despite the increase in base oil sales volumes, said Luberef in its filing to Saudi bourse Tadawul. Meanwhile, the earnings per share (EPS) retreated to SAR5.78 in 2024 from SAR8.98 a year earlier, it added. Impressed with the results, the board members have proposed cash dividends to shareholders valued at SAR518.22 million for the second half of 2024. This brings the full-year dividends to SAR6.68 per share, which is approximately 70% of free cash flow according to the performance-linked distribution policy.
Zawya
18-02-2025
- Business
- Zawya
Saudi: Luberef's revenues exceed $2.66bln in 2024; dividends for H2 unveiled
Riyadh – The net profits of Saudi Aramco Base Oil Company (Luberef) fell by 35.61% to SAR 972.02 million in 2024 from SAR 1.50 billion in 2023. Revenues amounted to SAR 10.03 billion in the January-December 2024 period, up 5.77% year-on-year (YoY) from SAR 9.48 billion, according to the financial results. Meanwhile, the earnings per share (EPS) retreated to SAR 5.78 in 2024 from SAR 8.98 a year earlier. Cash Dividends The board members of Luberef proposed cash dividends to shareholders valued at SAR 518.22 million for the second half (H2) of 2024. This brings the full-year dividends to SAR 6.68 per share, which is approximately 70% of free cash flow according to the performance-linked distribution policy. Luberef will disburse a dividend of SAR 3.08 per share for 168.25 million eligible shares. In the first nine months (9M) of 2024, the Saudi company recorded 38.44% YoY lower net profits at SAR 763.81 million, compared to SAR 1.24 billion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
