GAS CEO expects Q4 growth; reviewing new investments

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

Gas Arabian Services Co. (GAS) expects to maintain growth in the fourth quarter, backed by a strong order book and ongoing projects worth more than SAR 2 billion, Chief Executive Faisal AlDabal told Argaam.

Backlog reached SAR 2.02 billion at the end of the third quarter, compared with SAR 1.77 billion a year earlier, an increase of SAR 251 million, or more than 14%.

AlDabal said the rise in third-quarter profit was driven mainly by growth in revenue from the technical services segment. Sales in that segment jumped 84% to SAR 611 million, from SAR 331 million a year earlier, reflecting strong demand for specialized services.

Revenue from associates and joint ventures also rose 46% to SAR 25 million, from SAR 17 million in the third quarter of 2024.

Gross margin declined 2.47 percentage points to 9.81%, from 12.28%, due to different profitability levels across execution phases in the technical services and manufacturing segments, AlDabal said. Higher operating costs linked to investment expansion also weighed on margins, he added.

AlDabal said the company, which recently transferred to the main market, is studying several investment opportunities that complement its current services. He said GAS plans to announce them soon, pending board approvals.

GAS posted profit of SAR 108.3 million for the first nine months of 2025, up 34% from SAR 81 million in the same period of 2024, according to Argaam data. Third-quarter profit rose about 8%.