Asr Industrial Group Reports Q1 Profits Of 173 Million Riyals

Asr Industrial Group reported profits of 173,138,000 Saudi Riyals for the first quarter of this year. The reported figure is equivalent to 40 billion riyals. The group maintains cash reserves of 2.332 billion riyals as of the end of the first quarter. The company also announced a cash dividend distribution. Saudi Basic Industries Corporation (SABIC) transitioned from losses to a net income exceeding 13 billion riyals in the first quarter of 2026. The company attributed the profitability to restructuring measures and improved operational efficiency following a period of pressure and declines. The company noted that revenues decreased by 11% due to lower sales volumes compared to the previous quarter. This followed a prior quarter where the company incurred non-cash losses exceeding 17 billion riyals related to asset revaluations and international divestments. Adjusted operating income rose to 4.15 billion riyals with a stabilized margin of 5%. Losses reportedly increased by more than 100 percent during the previous year. This follows a loss of over 1.2 billion riyals recorded during the same period last year. The company attributed the turnaround to financial discipline and business portfolio restructuring.