The giant is in the core of the storm
For the first nine months of 2016, SABIC’s net profit fell by 15% year-on-year to SAR13.4bn. The company also reported a 10.8% drop in Q3 2016 sales to SAR33.3bn compared to SAR37.3bn in the corresponding period of the previous year. 9M 2016 revenues decreased by 14% to SAR98.950bn compared to 9M 2015.Saudi Basic Industries is engaged in manufacturing, marketing and distribution of chemical, fertilizer and metal products in global markets. Co.'s chemical productions consisted of polyethylene, polypropylene and advanced thermoplastics, glycols and methanol. Co.'s operations consist of the following business segments: the Chemicals segment, which includes basic chemicals, intermediates, polymers and specialty chemicals; the Fertilizers segment, which consists of fertilizer products; and the Metals segment, which consists of steel products. Co. also maintains investment activities through SABIC Industrial Investments.
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