Saudi Luberef records solid 2024 results; revenue hits $2.6bn

20/02/2025 13:43 AST

Saudi Aramco Base Oil Company (Luberef), one of the world's leading suppliers of base oils, has announced solid results for FY 2024 with its revenues for the 12 months surging to hit SAR10.03 billion ($2.6 billion), up 5.8% over the previous year's figure of SAR9.48 billion ($2.5 billion) mainly due to increase in by-products sales volumes as well as by-product prices despite a plunge in base oil prices.

Announcing the results for the 12-month period ended December 31, 2024, Luberef said however, its net profit plunged 35% to SAR972.02 million from the previous year's figure of SAR1.5 billion.

This was mainly due to a decrease in base oils and by-products crack margins despite the increase in base oil sales volumes, said Luberef in its filing to Saudi bourse Tadawul.

Meanwhile, the earnings per share (EPS) retreated to SAR5.78 in 2024 from SAR8.98 a year earlier, it added.

Impressed with the results, the board members have proposed cash dividends to shareholders valued at SAR518.22 million for the second half of 2024.

This brings the full-year dividends to SAR6.68 per share, which is approximately 70% of free cash flow according to the performance-linked distribution policy.

Luberef will disburse a dividend of SAR3.08 per share for 168.25 million eligible shares, it added.


Trade Arabia

Most Viewed Companies

Ticker Price Volume

Valuation

LUBEREF Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
MAADEN 62.10 -0.30 (-0.49%)
SABIC 55.60 0.10 (0.18%)
SABICAGRINUTRIENTS 127.20 0.20 (0.15%)
YANSAB 30.16 -0.32 (-1.05%)
ALBH 0.92 0.01 (1.09%)

Recent News

NBB plays key role as Joint Lead Manager in Bahrain's $1bn sovereign bond issue

18/06/2026

National Bank of Bahrain (NBB) acted as Joint Lead Manager and Bookrunner in Bahrain's successful $1 billion 10-year international bond issuance.

The bank's involvement reinforces its role

Trade Arabia

NBK launches rewarding cashback offers for new credit card customers

18/06/2026

As part of its firm commitment to providing a seamless and comprehensive digital banking experience, and its continuous dedication to rewarding its customers and delivering added value that meets the

Kuwait Times

Al Mohafaza Education Reschedules Interest-Free Loan with Related Party

17/06/2026

Al Mohafaza Company for Education has announced the rescheduling of an interest-free loan obtained earlier this year from Maroum Drilling Medical Services Company, a related party. The loan, valued a

Gulfbase

Dar Al Majed Real Estate Expands Presence with New Jeddah Sales Center

17/06/2026

Dar Al Majed Real Estate Company, known commercially as Al Majdiah, has announced the official opening of its new sales center in Jeddah. The facility is strategically located on King Abdulaziz Road

Gulfbase

NBB unveils Summer Cashback Campaign

17/06/2026

THE National Bank of Bahrain (NBB) has launched its Summer Cashback Campaign, offering credit cardholders the opportunity to maximise their international spending during the peak vacation season.

GDN Online

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap