Summarized Consolidated Balance Sheet

Assets at year-end 2022 totalled to SAR 313.11 billion as per December 31, 2022, a reduction of SAR 6.25 billion or 2% compared to the previous year (SAR 319.36 billion as at December 31, 2021), which is primarily due to a reduction in the carrying amounts of property plant and equipment and trade receivables. The decrease in property plant and equipment was attributable to depreciation exceeding capex and currency effects. The decrease in trade receivables was reflecting the impact from lower selling prices.

Total Liabilities amounted to SAR 95.49 billion compared to SAR 107.52 billion as per December 31, 2021, a decrease of SAR 12.03 billion or 11%. The movement was mainly driven by a reduction of debts and lease liabilities, and employee benefits as well as lower trade payables. The decrease in total debts and lease liabilities was driven by the repayment of certain loan facilities and lease liabilities, while the reduction in employee benefits was mainly driven by actuarial assumption changes. The decrease in trade payables is mainly attributable to lower feedstock prices.

Equity attributable to equity holders of the parent totalled SAR 186.05 billion at year-end 2022 compared to SAR 180.14 billion in 2021, an increase of SAR 5.91 billion or 3%. The increase is mainly due to the net income generated throughout the year partially offset by declared dividends in the amount of SAR 13.5 billion.

Our Financing Policy aims at ensuring sufficient liquidity levels at all times, while optimizing the returns to our shareholders. We use leverage prudently to fund our global growth ambitions. Our strong credit profile and corporate credit ratings (A+ / stable) on a standalone basis reflects the strength of our financing strategy and its execution. We evaluate the most optimal capital and financing structure to support our strategic plans and growth ambition.

Our primary sources of liquidity are the cash flows generated from our operations and borrowings under committed bank facilities. The primary use of this liquidity is to fund our ongoing operations and our capital expenditure requirements, including investments in joint ventures and other minority owned investee companies as well as dividend distribution to our shareholders.

Below is an overview of the total debt portfolio as of 31 December 2022

^{* This is mainly due to FX and Amortization effects.}

The total debt portfolio as of 31 December 2022 can be broken down by lending party as follows:

SABIC’s debt to equity ratio at the end of the reporting year was as follows:

The statutory amounts paid and payable at the end of the reporting year was as follows:

The employees' reserves at the end of the reporting year were as follows: