Financial Results : GASCO earns SAR 185.6M in 9M 2025, SAR 69.7M in Q3

GASCO earns SAR 185.6M in 9M 2025, SAR 69.7M in Q3

04/11/2025 Argaam Exclusive

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National Gas and Industrialization Co. (GASCO) reported a net profit of SAR 185.6 million for the first nine months of 2025, down 1.6% compared to SAR 188.7 million in the year-ago period.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 2,070.76 2,373.10 14.6 %
Gross Income 246.50 315.70 28.1 %
Operating Income 114.10 141.50 24.0 %
Net Income 188.67 185.60 (1.6 %)
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyals) 2.39 2.49 4.1 %
EPS (Riyal) 2.52 2.47 (1.6 %)

The company said the decline was mainly due to a SAR 26 million drop in project revenue, a SAR 5.2 million increase in zakat provision, higher operating expenses of SAR 23.8 million, a SAR 20.8 million fall in investment and finance income, a SAR 7.7 million decrease in other income, and a SAR 0.6 million rise in financing costs.

 

This came despite a SAR 312.3 million increase in gas sales on higher prices and volumes, an SAR 11 million rise in empty cylinder sales, a SAR 5 million increase in other service revenue, and a SAR 3.8 million rise in the share of results of associates.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 721.05 795.40 10.3 %
Gross Income 87.44 96.00 9.8 %
Operating Income 30.52 48.00 57.3 %
Net Income 52.07 69.70 33.9 %
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyal) 0.69 0.93 33.9 %
EPS (Riyal) 0.69 0.93 33.9 %

GASCO’s third-quarter net profit jumped 33.9% to SAR 69.7 million, from SAR 52.07 million in Q3 2024. Sequentially, the three-month bottom line grew 29.3% from SAR 53.9 million in Q2 2025.

 

Total shareholders’ equity, with no minority interest, increased to SAR 2.03 billion at the end of Sept. 30, 2025, from SAR 1.95 billion in the year-earlier period.

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