Financial Results : GASCO posts SAR 115.9M profit in H1 2025, SAR 53.9M in Q2

GASCO posts SAR 115.9M profit in H1 2025, SAR 53.9M in Q2

07/08/2025 Argaam Exclusive

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Natural Gas and Industrialization Co. (GASCO) posted a decline in the H1 2025 net profit to SAR 115.9 million, from SAR 136.6 million in the corresponding period last year.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 1,349.72 1,577.72 16.9 %
Gross Income 177.05 219.74 24.1 %
Operating Income 83.60 93.50 11.8 %
Net Income 136.60 115.87 (15.2 %)
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyals) 1.70 1.56 (8.1 %)
EPS (Riyal) 1.82 1.54 (15.2 %)

The company ascribed the profit decline during the current period to SAR 5.1 million decrease in Zakat provision reversal, a SAR 32.8 million increase in operating expenses (OpEx), an SAR 18.7 million decline in investment and finance income, a SAR 9.9 million drop in other income, a SAR 1.4 million rise in financing costs (FCs), and a SAR 14.4 million decrease in commercial projects revenue.

 

This was despite a SAR 228 million increase in revenue driven by a SAR 227 million rise in gas sales revenue, a SAR 6.5 million increase in sales of empty cylinders, an SAR 8.9 million rise in revenue from other services, a SAR 4.5 million increase in the company’s share of results from associates, and a SAR 42.7 million increase in gross profit on higher revenue.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 642.88 740.14 15.1 %
Gross Income 77.56 104.42 34.6 %
Operating Income 29.84 38.83 30.1 %
Net Income 58.00 53.91 (7.0 %)
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyal) 0.65 0.65 (0.3 %)
EPS (Riyal) 0.77 0.72 (7.0 %)

Q2 2025 net profit retreated 7.1% to SAR 53.9 million from SAR 58 million in Q2 2024.

 

On a quarterly basis, net profit fell 12.9% from SAR 61.9 million.

 

Total shareholders’ equity, no minority interest, stood at SAR 1.92 billion by June 30, 2025, compared to SAR 1.94 billion a year earlier.

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