Financial Results : SGS 9M 2025 profit grows 29% to SAR 298.5M; Q3 at SAR 101.5M

SGS 9M 2025 profit grows 29% to SAR 298.5M; Q3 at SAR 101.5M

10/11/2025 Argaam Exclusive

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Saudi Ground Services Co. (SGS) reported a net profit rise of 29% to SAR 298.5 million in the first nine months of 2025, from SAR 231.3 million in the prior year period.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 2,008.36 2,043.82 1.8 %
Gross Income 406.25 456.91 12.5 %
Operating Income 222.85 292.59 31.3 %
Net Income 231.27 298.50 29.1 %
Average Shares 188.00 188.00 -
Earnings Per Share before unusual items (Riyals) 1.23 1.59 29.1 %
EPS (Riyal) 1.23 1.59 29.1 %

The company attributed the increase to a 1.8% rise in total revenue to SAR 2.04 billion, primarily driven by a higher number of flights compared with the same period last year.

 

Lower cost of revenue, down SAR 15.2 million (0.9%), due to productivity enhancements and expense rationalization, also supported profitability. Improved collection efficiency reduced impairment losses on trade receivables by SAR 52.8 million, a 106.6% improvement. These gains were partially offset by a 38.7% decline in other income (SAR 20.5 million).

 

In Q3 2025, the company’s net profit jumped 24.3% to SAR 101.5 million, from SAR 81.68 million in Q3 2024.

 

SGS’ bottom line advanced 2.1% from SAR 99.37 million in Q2 2025.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 668.65 683.38 2.2 %
Gross Income 140.94 155.64 10.4 %
Operating Income 74.81 98.42 31.5 %
Net Income 81.68 101.50 24.3 %
Average Shares 188.00 188.00 -
Earnings Per Share before unusual items (Riyal) 0.43 0.54 24.3 %
EPS (Riyal) 0.43 0.54 24.3 %

Shareholders’ equity, no minority interest, reached SAR 2.45 billion by Sept. 30, 2025, compared to SAR 2.38 billion in the prior-year period.

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