GAS CEO: War impact on cost of sales below 3% in H1

Faisal AlDabal, CEO of GAS Arabian Services Co. (GAS)

GAS Arabian Services Co. (GAS) CEO Faisal AlDabal said the impact of the war on the company's cost of sales did not exceed 3% in H1 2026, while its impact on shipping and insurance costs was less than 0.5%.

In an interview with Al Arabiya TV on the sidelines of the SNB Capital Conference, AlDabal expected cost levels to remain stable during H2 2026, noting that the company is seeking alternative solutions without significant increases in costs.

He added that the company's strategy is based on providing industrial solutions rather than being tied to a single product or sector, giving it flexibility in the event of delays to specific projects.

The company's total backlog and outstanding contracts stood at SAR 1.5 billion at the end of Q2 2026, with execution scheduled over the next 18 months through H1 2028. Meanwhile, the value of its technology backlog with Saudi Aramco reached SAR 1 billion, according to the top executive.

He noted that project financing is progressing smoothly through banking facilities exceeding SAR 1 billion, while the company's current loans amount to no more than SAR 27 million.

As per Argaam’s data, GAS posted a net profit of SAR 80.9 million for H1 2026, up 15% from SAR 70.1 million in the same period of 2025. Q2 net profit rose 10% YoY to SAR 42.8 million.