GASCO profits rise 33% to SAR 82.2M in Q1 2026

05/05/2026 Argaam Exclusive

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National Gas and Industrialization Co. (GASCO) reported a 33% increase in net profit to SAR 82.2 million by the end of Q1 2026, compared to SAR 61.9 million recorded in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q1 2025 Q1 2026 Change‬
Revenues 837.60 962.40 14.9 %
Gross Income 115.30 137.60 19.3 %
Operating Income 54.70 70.40 28.7 %
Net Income 61.90 82.20 32.8 %
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyal) 0.91 1.10 20.1 %
EPS (Riyal) 0.83 1.10 32.8 %

Revenue increased by SAR 124.8 million in Q1 2026 supported by a SAR 110.6 million growth in gas sales due to higher prices and volumes sold, alongside a SAR 3.3 million rise in sales of empty cylinders and related accessories. In addition, revenues from commercial projects rose by SAR 5.8 million, while other service revenues advanced by SAR 5.1 million.

 

The company added that gross profit expanded by SAR 22.3 million in line with the revenue increase.

 

Net other income also climbed by SAR 1.6 million, while the share of results from associates picked up by SAR 1.3 million.

 

Meanwhile, financing costs (FCs) declined by SAR 1 million, and Zakat expenses decreased by SAR 2.5 million.

 

This came despite a drop of SAR 1.9 million in investment and financing income, as well as a surge in operating expenses (OpEx) by SAR 6.5 million during the quarter.

 

Sequentially, Q1 profit jumped 29.2% from SAR 63.60 million in Q4 2025.

 

Additional information:

 

GASCO stated that shareholders’ equity (with no minority interest) reached SAR 2.2 billion at the end of the period, compared to SAR 1.94 billion in the corresponding period of the previous year.

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Share Price

National Gas and Industrialization Co.
78.20
(1.80) (2.25 %)

National Gas and Industrialization Co. (GASCO)

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Financial Ratios
Current
Market Cap (M Riyal) 5,865.01
Enterprise Value (EV) (M Riyal) 5,666.20
Shares Outstanding ((M)) 75.00
EPS ( Riyal) (TTM) 3.59
Book Value (BV) ( Riyal) 29.45
Par Value ( Riyal) 10.00
Recurring P/E 22.82
P/E (TTM) 21.77
Price/book 2.66
Return on Average Assets (%) (TTM) 10.0
Return on Average Equity (%) (TTM) 13.0
EV/Revenues 1.67
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