Latest news with #SaudiAramcoBaseOilCompany
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. (
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. (
Zawya
17-02-2025
- Business
- Zawya
Saudi's Luberef targets Yanbu Growth II project completion in 2025
Saudi Aramco Base Oil Company (Luberef) will focus on executing the Yanbu Growth II project in 2025, according to President and CEO Samer Al-Hokail. 'The project is the cornerstone of our expansion strategy,' he said in the company's 2024 result statement. The CEO said the project will enable the company to produce Group III base oils, making it the region's sole producer of all three base oil groups. The project will enhance production flexibility, helping maximise utilisation capacity and capture opportunities in high-netback lubricant markets. In February 2023, Luberef awarded a 555-million Saudi riyals ($148.55 million) Engineering, Procurement and Construction (EPC) contract to Egypt's Petrojet for the Yanbu Growth II expansion project. The expansion will expand the Yanbu facility's base oils (Group II and Group III) production capacity to 1.3 million metric tonnes (MT) per annum by 2025. Luberef's 2024 net profit fell 36 percent year-on-year (YoY) to SAR 972 million , driven by a decline in base oil and by-product margins. Revenue rose six percent YoY to SAR 10 billion. (Editing by Anoop Menon) (
