Jahez profit plunges 61% to SAR 73M in 2025; Q4 losses at SAR 48.5M

Jahez International Company for Information System Technology reported a 61% profit decline to SAR 73 million in 2025, compared to SAR 188 million in 2024.

In 2025, operating expenses increased 26% to SAR 469.1 million, reflecting higher marketing investments to maintain the group’s share in the existing markets and the consolidation of Snoonu's cost base from Q4 2025. Adjusted EBITDA came in at SAR 193 million with an 8.3% margin, while net income attributable to shareholders was SAR 73 million.

KSA delivery platform segment remained profitable in 2025, generating net income of SAR 214.8 million, an adjusted EBITDA margin of 11.9%, and a net profit margin of 12.2%. Revenue declined 8.6% as Jahez responded to evolving market conditions by aligning delivery fees more competitively and increasing its focus on commission-based monetization.

Jahez international delivery platforms segment saw its net revenue rising 118.3% YoY to SAR 462.4 million, while adjusted EBITDA losses narrowed significantly to SAR 14.4 million, with margin improving to negative 3.1% from negative 26.5% in 2024. The performance was supported by the impact of the Snoonu acquisition, which was consolidated from Q4 2025 and increased the scale of the international portfolio.

As for Logi, the group's logistics operations in Saudi Arabia, generated net revenue of SAR 428.8 million, a 1.4% increase YoY. Adjusted EBITDA was SAR 24.3 million with a 5.7% margin, compared to SAR 29 million (6.9% margin) in 2024, as the segment scales its sponsored fleet.

During the year, the segment recorded a net loss of SAR 25.5 million, primarily on higher depreciation charges as the fleet expands.

Net revenue of other activities segment, which includes Co, Marn, Sol, Red Color investments and other subsidiaries, grew 48.4% to SAR 108 million, driven by the expansion of adjacent service lines and subsidiary contributions. Adjusted EBITDA losses widened to SAR 25.7 million, while net loss attributable to shareholders of parent company increased to SAR 82.5 million from SAR 33 million in 2024. The YoY decline was primarily driven by a significant increase in expected credit losses (ECL), which rose to SAR 29.4 million in 2025 from SAR 0.5 million in the prior year.

Total shareholders’ equity, after minority interest, rose to SAR 1.34 billion as of Dec. 31, 2025, from SAR 1.24 billion in the prior-year period.

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