Riyadh – Mubasher: Saudi Logistics Services Company (SAL) reported 26.55% year-on-year (YoY) lower net profits at SAR 153.09 million in the first quarter (Q1) of 2025, compared to SAR 208.44 million.
The revenues dropped by 15.13% year-on-year (YoY) to SAR 384.05 million as of 31 March 2025 from SAR 452.52 million, according to the financial results.
Earnings per share (EPS) stood at SAR 1.91 in Q1-25, versus SAR 2.61 a year earlier.
Quarterly, the Q1-25 net profits increased by 7.78% from SAR 142.03 million in Q4-24, while the revenues declined by 6.02% from SAR 408.69 million.
In the 12-month period that ended on 31 December 2024, SAL registered 29.77% YoY higher net profits at SAR 3.32 billion.
Omar bin Talal Hariri, CEO of SAL, commented: “Although a decline in volumes compared to an exceptional period last year, we maintained our operational discipline and our leading position in cargo handling, which enabled the division to continue being a key contributor to profitability, supported by stable operations and our customers’ trust in our services.”
“We look ahead with optimism to the next phase of our growth strategy through the SAL Logistics Zone project in Falcon City, Riyadh, with an investment of SAR 4 billion,” the CEO added.
He noted: “This project represents a strategic transformation that will boost the division’s growth, aligns with the Vision 2030 objectives, and positions SAL ideally to seize the tremendous opportunities offered by the growing logistics sector in the Kingdom.”
Cash Dividends
The board members announced cash dividends valued at SAR 114.40 million to 80 million eligible shares for Q1-25. The company will pay out a dividend of SAR 1.43 per share, representing 14.30% of the share nominal value.
