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The National Shipping Company of Saudi Arabia (Bahri) announces its interim financial results for the period ending on 31-03-2025 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,166.64 | 2,313.08 | -6.33 | 2,216.47 | -2.248 |
| Gross Profit (Loss) | 612.42 | 663.09 | -7.641 | 570.38 | 7.37 |
| Operational Profit (Loss) | 544.67 | 625.96 | -12.986 | 496.19 | 9.77 |
| Net profit (Loss) | 532.82 | 452.93 | 17.638 | 474.26 | 12.347 |
| Total Comprehensive Income | 501.97 | 453.03 | 10.802 | 507.41 | -1.072 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 14,127.19 | 12,291.6 | 14.933 |
| Profit (Loss) per Share | 0.72 | 0.61 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The main reason for the decrease in revenues during the current quarter compared to the same quarter of the previous year was due to: • The decrease in revenue of some sectors, particularly Bahri Oil BU whose revenue decreased by SAR 139 million and Bahri Chemicals BU whose revenue decreased by SAR 105 million due to the decline of global shipping rates during the current quarter compared with same quarter of last year. While the increase in Bahri Integrated Logistics BU revenue by SAR 73 million has offset the decrease in revenue during the current quarter compared with same quarter of last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The main reason for the increase in net profit during the current quarter compared to the same quarter of the previous year was due to: • The increase in the Company’s Share in results of equity accounted investees by SAR 153 million during the current quarter compared with same quarter of last year. • The increase in Bahri Integrated Logistics BU gross profit by SAR 65 million during the current quarter compared with same quarter of last year due to the improvement of operational performance and the improvement of global shipping rates within the BU sector. • The decrease in Finance costs by SAR 16 million during the current quarter compared with same quarter of the last year. While the increase in net profit was partially offset by the following: • The decrease in gross profit in several business units, particularly Bahri Chemical whose gross profit decreased by SAR 97 million, Bahri Oil BU by SAR 18 million, and Bahri Dry Bulk BU by SAR 4 million due to the decline of global shipping rates. • The increase in General and Administrative Expenses by SAR 20 million, and the decrease in Finance income by SAR 18 million during the current quarter compared with the same quarter of last year. • The decrease in Other Income by SAR 11 million due to decline in capital gains during the current quarter compared with the same quarter of last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The main reason for the decrease in revenues during the current quarter compared to the previous quarter was due to: • The decrease in revenue of some sectors, particularly Bahri Chemical BU whose revenue decreased by SAR 51 million, Bahri Integrated Logistics BU by SAR 46 million and Bahri Dry Bulk BU by SAR 21 million due to the decline of global shipping rates during the current quarter compared with the previous quarter. While the decrease in revenue was partially offset by the increase in Bahri Oil BU revenue by SAR 71 million due to the increase in global shipping rates within the BU sector, and the increase in the operating activities during the current quarter compared with the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The main reason for the increase in net profit during the current quarter compared to the previous quarter was due to: • The increase in gross profit by SAR 42 million due to the improvement of operational performance and improvement of global shipping rates in multiple business units, especially in Bahri Oil BU where its gross profit increased by SAR 74 million during the current quarter compared with the previous quarter. • The decrease in the General and Administrative Expenses by SAR 48 million, and the increase in the Company’s Share in results of equity accounted investees by SAR 14 million during the current quarter compared with the previous quarter. While the increase in net profit was partially offset by the decrease in the other income by SAR 34 million due to the decline in capital gains during the current quarter compared with the previous quarter. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None. |
| Reclassification of Comparison Items | None. |
| Additional Information | For more information, please refer to the Earnings Release attached to the announcement. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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