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    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION

(2010)
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Saudi Basic Industries : SABIC Sets off A New Chapter in Agri-Nutrients Strategic Transformation

01/17/2022 | 10:55am EDT

SABIC has completed the transformation process of its Agri-Nutrients Business through Project Transfusion. The new operating model of its Agri-Nutrients Business encompasses the best-in-class capabilities in manufacturing, operation, planning, marketing, sales, supply chain, technology and research, and aftermarket services.

The transformation journey was completed with the launch of a full-fledged company on January 1, 2022, with agility and flexibility to respond to the challenges of the agri-nutrients industry and the needs of all stakeholders.

SABIC launched SABIC Agri-Nutrients Company in 2020 with a vision to be the national champion and a global leader in the agri-nutrients industry and to maintain the momentum of support for Saudi Vision 2030.

The new company adopts a distinct operating model that focuses on a number of pillars to ensure sustainable growth and offer more differentiated agri-nutrients solutions. The focus areas include a more effective agri-nutrients business strategy, fully focused research and development programs, sales and supply chain and talent attraction and development.

"Agri-nutrient business remains one of SABIC's main businesses. We now have all the necessary tools and resources to move toward industry leadership at the local, regional and global levels and to unlock all strategic growth plans, whether in the Kingdom or targeted global markets such as Africa, North America and Brazil. This will also help us expand in our current markets in the Middle East, Southeast Asia and others to best serve our customers with integrated solutions," said Yousef Al-Benyan, Vice Chairman and CEO of SABIC.

SABIC consolidated its agri-nutrients processes in SABIC Agri-Nutrients Company through a transformation initiative that started with 'Project Takamol' and culminated in 'Project Transfusion'.

In 2018 under 'Project Takamol', the manufacturing sites of the Saudi Arabian Fertilizers Company (SAFCO), National Chemical Fertilizer Company (Ibn Al-Baytar), and the Jubail Fertilizer Company (Al-Bayroni) were integrated. SABIC then transferred its equity in Ibn Al-Baytar, Al-Bayroni, and Gulf Petrochemical Industries Company (GPIC) to SAFCO in 2019 under 'Project Fusion'. Finally, SAFCO was rebranded as SABIC Agri-Nutrients Company in 2020.

This transformational initiative allows for more focus, resilience and agility in SABIC agri-nutrient business by introducing a new operating model that will pave the way for the new Company toward achieving sustainable growth and a leading position in the industry locally and globally.

SABIC Agri-Nutrients Company also launched a global brand campaign to reaffirm its promise to deliver sustainable solutions to the world's food security challenges. Crafted around the theme 'The Way We Farm Matters to Everyone', the campaign shares the company's vision across multiple markets and media platforms.

Disclaimer

SABIC - Saudi Basic Industries Corporation SJSC published this content on 16 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 15:54:03 UTC.


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Financials
Sales 2022 189 B 50 413 M 50 413 M
Net income 2022 23 418 M 6 243 M 6 243 M
Net cash 2022 14 754 M 3 933 M 3 933 M
P/E ratio 2022 15,4x
Yield 2022 3,59%
Capitalization 358 B 95 495 M 95 495 M
EV / Sales 2022 1,82x
EV / Sales 2023 1,76x
Nbr of Employees 35 000
Free-Float 30,0%
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Saudi Basic Industries Corporation Technical Analysis Chart | 2010 | SA0007879121 | MarketScreener
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 119,40 SAR
Average target price 123,81 SAR
Spread / Average Target 3,69%
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Managers and Directors
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Timothy D. Leveille Executive Vice President-Corporate Finance
Khalid Hashim Al-Dabbagh Chairman
Bob Maughon Executive Vice President-Technology & Innovation
Khaled Hamza Nahas Independent Director
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