Financial Statements

Profitability was affected by lower sales volumes and reduced by-product contribution. EBITDA amounted to SAR 1.1 billion, while net income reached SAR 855 million. These impacts were partially mitigated by improved base oil crack margins, supported by lower feedstock prices and effective commercial optimization.

Luberef maintained a strong balance sheet, underpinned by conservative liquidity management and a prudent capital structure. The Company ended the year with a gearing ratio of -10 percent, providing continued flexibility to fund strategic growth initiatives while supporting sustainable shareholder returns.