Aldrees CEO: New contracts, sales growth boost profit in Q3 2026

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

Aldrees Petroleum and Transport Services Co. CEO Abdullah Aldrees said the company’s profit growth in Q3 2026 was driven by new contracts at favorable rates, higher sales, and additional logistics services provided to customers in the Naqel segment, as well as sales growth in the petroleum segment and higher sukuk returns.

In comments to Argaam, Aldrees said Naqel’s sales reached around SAR 308 million in Q3 2026, compared with SAR 7.67 billion for the petroleum segment. Both segments contributed to the company’s performance during the quarter, with Naqel making the larger contribution.

He added that both segments managed to keep operating costs stable amid ongoing geopolitical developments and logistical challenges, adapting to the prevailing conditions while increasing profits on the back of a higher number of fuel stations and new contracts.

The company operated 1,437 fuel stations at the end of Q3 2026, after adding 137 stations since the beginning of the year, he said.

Aldrees said the company’s truck fleet totaled 2,228 vehicles at the end of the quarter, adding that there were no plans to expand the fleet in the fourth quarter.

Asked about his outlook for the company’s performance and profit margins in the fourth quarter of 2026, Aldrees said he hoped to maintain the same level of performance.

According to Argaam data, Aldrees’ net profit rose 20% to SAR 371.6 million in the first nine months of 2026, from SAR 310.2 million in the same period of 2025.

The company’s Q3 profit rose 22% year-0nyear (YoY) to SAR 137.6 million, while revenue grew 16.4% YoY to around SAR 8 billion.