Saudi Aramco Base Oil Co - Luberef (SAU:2223)

Q1 2025 Saudi Aramco Base Oil Company - Luberef SJSC Earnings Call Transcript

May 5, 2025 / 01:00 PM GMT

Release Date Price: ﷼99 (+0.51%)

Transcript

Key Points

Positve

Saudi Aramco Base Oil Co - Luberef (SAU:2223) maintained an industry-leading safety performance with a total recordable incident rate of zero and achieved a mechanical availability of 97.6%.
The company obtained the ISO 45001 certification for Occupational Health and Safety Management Systems, marking a significant milestone in workplace safety.
Luberef successfully introduced its bright stock and 110 PRIMA products into higher net back markets, enhancing commercial resilience.
The company recorded a sales volume of 272,000 metric tons, slightly higher than the same period last year, despite a planned shutdown.
Operating cash flow and free cash flow showed an increase due to positive changes in working capital, demonstrating strong financial discipline.

Negative

Overall revenue declined slightly year over year by 2.5%, primarily due to increased feedstock costs.
EBITDA and net income dropped by 10% and 7% respectively, compared to the same period last year.
The Uber Growth project faced delays in material procurements due to technical clarifications with vendors and the need for licensors' approval for new equipment.
The current progress of the Uber Growth project is at 42%, slightly less than planned for the first quarter.
There was a slight drop in crack margins for byproducts, impacting financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

2223.SE - Saudi Aramco Base Oil Company - Luberef SJSC
Q1 2025 Saudi Aramco Base Oil Company - Luberef SJSC Earnings Call
May 05, 2025 / 01:00PM GMT

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Presentation
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Barakat.

No lire.

When mi min.

Hello, everyone. I am Salhal Gandhi from the investor relations department at Urevev.

It is my pleasure to welcome you in today's audio webcast.

Where we will be discussing our first quarter results for the year 2025.

I'm also pleased to be joined today by our Chief Financial Officer, Mr. Saud Kemahi.

Our session will begin with a presentation highlighting Lubrov's Q1 2025 performance followed by a Q1 day session.

Please note that this webcast is being recorded for future reference.

Before we dive into the presentation, I would like to draw your attention to our

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