Saudi Arabia · Delayed Price · Currency is SAR Saudi Aramco Base Oil Company - Luberef Earnings Call Transcripts
Fiscal Year 2025
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2025 saw resilient financials despite a 15% sales volume drop from a major turnaround, with revenue at SAR 8.1 billion and net income at SAR 855 million. Crack margins improved, cost-saving initiatives delivered value, and 2026 guidance targets 1.25 million tons production.
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Q3 2025 saw strong operational and financial performance, with net income up 14% sequentially and robust crack margins despite lower sales volumes. Growth 2 project is on track, and new agreements are set to enhance margins and reduce costs.
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H1 2025 saw lower revenue and net income due to unplanned shutdowns and weaker byproduct margins, but base oil crack margins improved 6% year-over-year. CapEx and domestic sales focus remain strong, with Growth II project on track for early 2026 production.
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Q1 2025 saw strong safety performance, improved base oil margins, and stable sales volumes, though revenue, EBITDA, and net income declined year-over-year. Yanbu Growth II progressed to 42% completion, with CapEx and working capital on track, and operational guidance unchanged.
Fiscal Year 2024
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Operational excellence and strategic partnerships supported stable sales and revenue growth, despite lower crack margins and a 40% drop in net income year-over-year. Focus remains on cost control, asset utilization, and growth projects, with a performance-linked dividend policy in place.