Financial Results : Bahri profit rises 18% to SAR 532.8m in Q1 2025

Bahri profit rises 18% to SAR 532.8m in Q1 2025

08/05/2025 Argaam Exclusive

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National Shipping Company of Saudi Arabia (Bahri) reported an 18% increase in net profit to SAR 532.8 million in Q1 2025, compared to SAR 452.9 million in the previous year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 2,313.08 2,166.64 (6.3 %)
Gross Income 663.09 612.42 (7.6 %)
Operating Income 603.10 533.08 (11.6 %)
Net Income 452.93 532.82 17.6 %
Average Shares 922.85 922.85 -
Earnings Per Share before unusual items (Riyal) 0.47 0.57 21.8 %
EPS (Riyal) 0.49 0.58 17.6 %

The profit growth was attributed to a year-on-year (YoY) increase of SAR 153 million in profits from the company’s share in equity-accounted investees.

 

Gross profit from the integrated logistics segment increased by SAR 65 million, driven by improved operational performance and better global freight rates.

 

Financing expenses dropped by SAR 16 million YoY in Q1 2025.

 

However, revenue from the integrated logistics segment grew by SAR 73 million, which helped offset the decline in overall revenues during the quarter.

 

However, the company faced lower capital gains, weaker revenues in several segments, and a SAR 20 million rise in administrative expenses. Other income fell by SAR 11 million, and finance income dropped by SAR 18 million YoY.

 

In addition, gross profit across several segments dropped on lower global freight rates, notably chemicals by SAR 97 million, oil by SAR 18 million, and dry bulk by SAR 4 million.

 

Quarter-on-quarter, net profit rose 12.3% from SAR 474.26 million in Q4 2024.

 

Shareholders’ equity, excluding minority interest, stood at SAR 14.12 billion by the end of March 2025, compared to SAR 12.29 billion in the year-earlier period.

 

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