SAL Saudi Logistics Services (4263) Q3 2025 earnings summary

Executive summary

• Achieved double-digit revenue and profit growth in Q3 2025, with net profit reaching 181 million, up 16% year-over-year, driven by operational performance, margin expansion, and innovation.

• Revenue for Q3 2025 rose 15% year-over-year to 421 million, with strong contributions from both Ground Handling and Logistics divisions.

• Net profit for the first nine months of 2025 was 496.2 million, down from 519.4 million in the prior year, reflecting a high 2024 base.

• Cash and cash equivalents increased to 1,432.7 million as of 30 September 2025.

• The company established SAL Zones Company to support warehousing and transportation expansion.

Financial highlights

• Q3 2025 EBIT was 188 million, up 18% year-over-year, with margin improving to 44.6% (+1.2pp); EPS up 16% to 2.26.

• Operating cash flow for 9M 2025 grew 13% to 634 million; adjusted free cash flow reached 523 million.

• CAPEX for 9M 2025 was 103 million (+82%), supporting infrastructure, SAL Zones, and digital platforms.

• Dividends totaling 342.4 million were paid during the period.

• Total assets increased to 3,328.5 million at 30 September 2025.

Outlook and guidance

• Expects stable performance against an exceptional 2024 base, with continued growth versus normalized levels.

• Management remains confident in capturing future growth as Saudi Arabia expands its logistics hub role.

• Ground Handling to sustain volume momentum; Logistics positioned for future expansion.

• 75% dividend payout policy to be maintained.

• Continued focus on efficiency, cost discipline, and service excellence.