Aldrees maintains profit growth despite geopolitical updates, to open 67 stations in H2: CEO

Abdullah Aldrees, CEO of Aldrees Petroleum and Transport Services Co. 

Aldrees Petroleum and Transport Services Co. has successfully coped with the current geopolitical turmoil, maintaining its profit growth rate and continuing efforts to mitigate any potential impacts, CEO Abdullah Aldrees said.

In an interview with Argaam, Aldrees explained that the company's profit growth during the second quarter of 2026 was primarily driven by the expansion of its operating business, supported by increased sales in both the petroleum and transport segments, in addition to higher income from bank deposits and investments in sukuk, as well as growth in other revenues.

The petroleum and transport segments delivered strong performance and contributed to revenue growth in Q2 2026. The transport segment was relatively the largest contributor to both revenue and profitability. He added that income from sukuk investments contributed about SAR 10.9 million to the company's second-quarter profits.

Aldrees also noted that the company's network reached 1,383 service stations by the end of Q2 2026. He expects to open 67 new stations during H2 2026, affirming that opportunities to acquire existing stations remain available.

Additionally, the increase in the number of trucks in the transport segment had a positive impact on utilization rates and profit margins, particularly through the renewal of the transport fleet, which improved operating efficiency and reduced maintenance costs. Demand for transportation and logistics services is set to remain at current levels in the coming period, said the CEO.

He also said that the new logistics center at King Abdulaziz Port in Dammam is expected to begin showing gradual improvement next year, taking into account the current geopolitical developments.

As for his outlook for the company's performance in Q3 2026, Aldrees said he expects continued improvement in both operating and financial performance, particularly with the anticipated increase in demand for transportation services and the expansion in the number of service stations.

According to Argaam data, Aldrees profit rose to SAR 234.1 million by the end of H1 2026, up 18% compared to SAR 197.7 million in H1 2025. Q2 2026 net profit amounted to SAR 123.9 million, a growth of 28% YoY.