Saudi Aramco Base Oil Company- Luberef Announces its Interim Financial Results for the Period Ended on 30-06-2026 (Six Months)

Luberef achieved a record interim net income of SAR 992 million for the first half of 2026, a 113% increase compared to SAR 467 million in H1 2025. Total revenue for the period grew 27.4% to approximately SAR 5.6 billion, primarily driven by a record base oil crack margin of $2,732 per metric ton, up from $1,828 in the previous year.
The Board of Directors approved an interim dividend of SAR 3.4 per share for H1 2026, reflecting the company's strong cash position and a 346% surge in free cash flow to SAR 1.06 billion. Earnings per share (EPS) rose to SAR 5.90 from SAR 2.77, while the return on average capital employed (ROACE) reached 33%.
Management rescheduled the planned Growth II shutdown to October 2026 to capitalize on current favorable market crack margins, with the project now expected to come on stream during the first half of 2027.
Operational excellence was highlighted by a zero Total Recordable Incident Rate (TRIR) and 100% mechanical availability, alongside a new strategic supply agreement with APAR Industries to support local manufacturing at the LubeHub Value Park in Yanbu.

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	3,418,578	2,249,108	51.997	2,158,407	58.384
Gross Profit (Loss)	857,002	320,282	167.577	328,281	161.057
Operational Profit (Loss)	748,466	257,137	191.076	263,305	184.258
Net Profit (Loss) Attributable to Shareholders of the Issuer	734,097	245,197	199.39	257,968	184.569
Total Comprehensive Income Attributable to Shareholders of the Issuer	711,897	256,147	177.925	261,869	171.852
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	5,576,985	4,377,066	27.413
Gross Profit (Loss)	1,185,283	607,829	95.002
Operational Profit (Loss)	1,011,771	483,481	109.267
Net Profit (Loss) Attributable to Shareholders of the Issuer	992,065	466,705	112.567
Total Comprehensive Income Attributable to Shareholders of the Issuer	973,766	451,961	115.453
Total Shareholders Equity (after Deducting Minority Equity)	4,967,791	4,331,750	14.683
Profit (Loss) per Share	5.9	2.77
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The reason for the increase in revenues during the current quarter compared to the same quarter of the last year is mainly due to the increase in both base oil and by-product prices.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the increase in net profit during the current quarter compared to the same quarter of the last year is mainly due to the increase base oil crack margins.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The reason for the increase in revenues in the current quarter compared to the previous quarter is mainly due to an increase in base oil prices and sales volumes.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The reason for the net profit increase in the current quarter compared to the previous quarter is mainly due to the increase in base oil crack margins and sales volumes, despite the decrease in by-product crack margins.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	The reason for the increase in revenues during the current period compared to the same period of last year is mainly due to the increase in base oil and by-product prices.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for the increase in the net profit during the current period compared to the same period of last year is mainly due to the increase in base oil and by-product crack margins.
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	None
Reclassification of Comparison Items	None
Additional Information	None
Attached Documents	Attached Documents