Aldrees Petroleum & Transport Services is planning to open 21 stations in 2015 and will increase the number of its transport fleet by about 100.
It also plans to provide logistics services through its affiliate Aldrees Bertschi, which is expected to start operations this year, according to the board’s annual report.
United Fuel Company (UNIFCO), a joint venture between Aldrees and Emirates National Oil Company (ENOC), incurred SAR 2 million losses during 2014, compared to SAR 1 million in fiscal year 2013.
The new entity has a five-year plan to operate 40 stations with a SAR 400 million investment. It started commercial operations in April 2014.
The Saudi-based company had planned to open 19 stations in 2014, but launched seven instead. Accordingly, the total number of Aldrees-run stations rose to 478 stations, with 463 of those leased.
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Aldrees Stations (2010- 2014) |
|||||
|
2010 |
2011 |
2012 |
2013 |
2014 |
Items |
|
12 |
12 |
13 |
13 |
15 |
Company’s stations |
|
345 |
440 |
448 |
458 |
463 |
Leased stations |
|
417 |
452 |
461 |
471 |
478 |
Total stations |
Aldrees ended 2014 with a fleet of 3,405 truck heads and trailers, an increase of 210 compared to the previous year, as shown in the table below.
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Aldrees Trucks Heads and Trailers |
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|
2010 |
2011 |
2012 |
2013 |
2014 |
Items |
|
1051 |
1062 |
1145 |
1292 |
1328 |
Trucks heads |
|
1448 |
1607 |
1680 |
1903 |
2077 |
Trailers |
|
2496 |
2665 |
2825 |
3195 |
3405 |
Total heads and trailers |
Aldrees posted a 22 percent increase in fiscal year 2014 earnings to SAR 123.7 million, or SAR 3.09 a share. In 2013, the company posted SAR 101.7 million in earnings, or SAR 2.54 a share. The hike was attributed to higher sales in both the petroleum and transport sectors.
The board of directors in 2014 had also recommended a dividend payout at 20 percent of capital, or SAR 2 per share.
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