Luberef 2024 Profit Falls 35.6% to SAR 972 Million

Saudi Aramco Base Oil Company- Luberef revealed on Monday a decline in net profit by the end of 2024 to SAR 972 million, compared to SAR 1.5 billion last year by 35.6%, following the announcement today of the annual financial results ending on Dec. 31, 2024.

The Company’s revenues increased by 5.7% to SAR 10 billion by the end of 2024, compared to SAR 9.4 billion last year.

Operational profit decreased by 37% to SAR 1 billion by the end of 2024, compared to SAR 1.5 billion last year.

Total equity (after excluding non-controlling interests) in the current year decreased by 9.6% to SAR 4.3 billion, compared to SAR 4.8 billion last year.

Profits per share in the current year reached SAR 5.78, compared to SAR 8.98 in the previous year.