Bahri reports SAR 9.98B profit in 9M 2026; Q3 at SAR 5.09B

Saudi National Shipping Co. (Bahri) reported a net profit of SAR 9.98 billion in the first nine months of 2026, compared with SAR 1.45 billion in 9M 2025.

The maritime logistics firm reported higher earnings across all segments as operating activity improved amid increased global freight rates.

Revenue rose by SAR 18 billion for Bahri Oil, SAR 429 million for Bahri Logistics, SAR 270 million for Bahri Chemicals, and SAR 139 million for Bahri Dry Bulk.

Gross profit increased by SAR 8.30 billion, with Bahri Oil’s gross bottomline up by SAR 7.70 billion and Bahri Chemicals by SAR 431 million.

Other positive factors included a SAR 352 million increase in the company’s share of profits from equity-accounted investees, a SAR 81 million increase in finance income, a SAR 58 million decrease in the allowance for trade receivables and contract assets, and a SAR 31 million decrease in finance costs.

Net profit surged to SAR 5.08 billion in Q3 2026, compared with SAR 513.36 million in Q3 2025, driven by higher revenue across segments amid increased operating activity and higher global freight rates.

Revenue rose by SAR 12 billion in Bahri Oil, SAR 250 million in Bahri Logistics, and SAR 41 million in Bahri Dry Bulk.

Gross profit increased by SAR 4.50 billion. Bahri also noted a SAR 240 million increase in the share of profits from equity-accounted investees, a SAR 30 million rise in finance income, and a SAR 23 million decline in finance costs.

These gains were partly offset by a SAR 102 million decrease in net other income.

Quarter-on-quarter, net profit surged 85.1% from SAR 2.74 billion in Q2 2026.

Total shareholders’ equity, after minority interest, stood at SAR 22.7 billion as of Sept. 30, 2026, up from SAR 14.28 billion a year earlier.

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