The National Shipping Company of Saudi Arabia (Bahri) announces its interim financial results for the period ending on 30-09-2025 (Nine Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,455.8 | 2,240.59 | 9.605 | 2,461.32 | -0.224 |
| Gross Profit (Loss) | 655.37 | 597.33 | 9.716 | 660.63 | -0.796 |
| Operational Profit (Loss) | 599.95 | 639.84 | -6.234 | 520.17 | 15.337 |
| Net profit (Loss) | 513.36 | 509.02 | 0.852 | 407.45 | 25.993 |
| Total Comprehensive Income | 518.38 | 487.04 | 6.434 | 378.55 | 36.938 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 7,083.75 | 7,265.92 | -2.507 |
| Gross Profit (Loss) | 1,928.42 | 2,129.97 | -9.462 |
| Operational Profit (Loss) | 1,664.79 | 2,107.8 | -21.017 |
| Net profit (Loss) | 1,453.63 | 1,695.14 | -14.247 |
| Total Comprehensive Income | 1,398.9 | 1,685.29 | -16.993 |
| Total Shareholders Equity (after Deducting Minority Equity) | 14,285.83 | 13,117.81 | 8.904 |
| Profit (Loss) per Share | 1.58 | 1.84 | |
| All figures are in (Millions) 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 (Millions) 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 main reason for the increase in revenues during the current quarter compared to the same quarter of last year was due to:
- The increase in the revenues of some business units, particularly Bahri Oil BU, increased by SAR 311 million as a result of higher operational activities and improved global shipping rates during the current quarter compared to the same quarter of last year.
- While the increase in revenues was offset by the decrease in revenue from Bahri Dry Bulk BU by SAR 54 million and Bahri Chemicals BU by SAR 29 million, mainly due to the decline in global shipping rates for these business units during the current quarter compared to the same quarter of last year. |
| 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 main reason for the increase in net profit during the current quarter compared to the same quarter of last year was due to:
- The increase in gross profit by SAR 58 million, mainly due to improved operational performance and higher global shipping rates, which positively impacted the Company’s performance, particularly Bahri Oil BU, where its gross profit increased by SAR 126 million during the current quarter compared to the same quarter of last year.
- The increase in the Company’s share of results of equity-accounted investees by SAR 62 million during the current quarter compared to the same quarter of last year.
While the increase in net profit was offset by the following:
- The decrease in gross profit of Bahri Integrated Logistics BU by SAR 55 million during the current quarter compared to the same quarter of last year.
- The decrease in other income by SAR 63 million during the current quarter compared to the same quarter of last year, mainly due to recording capital gains of SAR 89 million from sale of vessels in the same quarter of last year, while no capital gains realized from vessels disposals during the current quarter.
- The increase in general and administrative expenses by SAR 34 million and the increase in finance costs by SAR 26 million during the current quarter compared to the same quarter of last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The main reason for the decrease in revenues during the current quarter compared to the previous quarter was due to:
- The decrease in the Company’s revenues by SAR 6 million, mainly due to changes in global shipping rates across some of the Company’s business units, as revenues from Bahri Integrated Logistics BU decreased by SAR 30 million and Bahri Chemicals BU decreased by SAR 10 million during the current quarter compared to the previous quarter.
- While the decrease in revenues was offset by the increase in revenues from Bahri Oil BU by SAR 24 million during the current quarter compared to the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The main reason for the increase in net profit during the current quarter compared to the previous quarter was due to:
- The increase in the Company’s share of results of equity-accounted investees by SAR 65 million during the current quarter compared to the previous quarter.
- The decrease in general and administrative expenses by SAR 48 million, the increase in other income by SAR 24 million, and the decrease in doubtful debt provision by SAR 13 million during the current quarter compared to the previous quarter. |
| 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 main reason for the decrease in revenues during the current period compared to the same period of the last year was due to:
- The decrease in the Company’s revenues by SAR 182 million, mainly driven by the decline in global shipping rates across some sectors, as revenues from Bahri Chemicals BU decreased by SAR 287 million and Bahri Dry Bulk BU decreased by SAR 72 million during the current period compared to the same period of last year.
- While the decrease in revenues was offset by the increase in revenue from Bahri Oil BU by SAR 124 million during the current period compared to the same period of last year. |
| 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 main reason for the decrease in net profit during the current period compared to the same period of the last year was due to:
- The decrease in gross profit by SAR 202 million, mainly due to the decline in global shipping rates across some of the Company’s business units, as the gross profit of Bahri Chemicals BU decreased by SAR 270 million and Bahri Integrated Logistics BU decreased by SAR 18 million during the current period compared to the same period of last year.
- The decrease in other income by SAR 140 million during the current period compared to the same period of the last year, mainly due to recordings of capital gains from sale of vessels amounted to SAR 185 million in the same period of last year, compared to only SAR 6 million in the current period.
- The increase in general and administrative expenses by SAR 91 million and the increase in finance costs by SAR 48 million during the current period compared to the same period of last year.
While the decrease in net profit was offset by the following:
- The increase in gross profit of Bahri Oil BU by SAR 97 million, driven by improved operational performance during the current period compared to the same period of the last year.
- The increase in the Company’s share of results of equity-accounted investees by SAR 187 million during the current period compared to the same period of last year. |
| 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 | The calculation of Earnings per Share for the corresponding period of the last year was based on the weighted average number of shares (922,852 thousand shares), due to the increase in the Company’s share capital from SAR 7.3 million to SAR 9.2 million, which was approved by the Extraordinary General Assembly held on 29 June 2025.
For more information, please refer to the Earnings Release attached to the announcement. |
| Attached Documents |  |
Comments