Latest news with #IntegratedLogistics
Khaleej Times
12-08-2025
- Business
- Khaleej Times
Adnoc L&S posts record results for the second quarter
Adnoc Logistics & Services has reported its highest-ever quarterly results for Q2 2025, with revenue rising 40 per cent year-on-year to $1.26 billion and Ebitda increasing 31 per cent to $400 million. Net profit for the quarter was up 14 per cent to $236 million, underscoring the company's resilience in a challenging global shipping market. For the first half of 2025, revenue climbed 40 per cent to $2.44 billion, with Ebitda growing 26 per cent to $744 million, maintaining a robust 30 per cent margin. Net profit for the period rose 5 per cent to $420 million, supported by strong performance across Integrated Logistics, Shipping and Services, despite weaker charter rates in gas, tanker, and dry bulk segments. Integrated Logistics revenue grew 22 per cent to $1.29 billion, boosted by high utilisation of jack-up barges, improved profitability in its logistics platform, and engineering projects such as G-Island and Hail & Ghasha. The Shipping segment surged 89 per cent to $981 million, driven by the consolidation of the Navig8 tanker fleet, while Services revenue increased 4 per cent to $165 million, supported by higher volumes at the Borouge Container Terminal. Captain Abdulkareem Al Masabi, CEO of Adnoc L&S, said the record-breaking performance reflects the company's continued outperformance of market expectations, driven by robust cash flows, strategic partnerships, and operational excellence. 'In line with this momentum, our upgraded full-year guidance demonstrates our confidence in delivering long-term value to shareholders.' Adnoc L&S has upgraded its full-year guidance, forecasting revenue growth in the high 20 per cent range, Ebitda growth in the mid-20s, and net income growth in the low to mid-double digits. The company also announced a 5 per cent increase in its 2025 dividend to $287 million, in line with its progressive payout policy. The company signed a $531 million, 15-year agreement with Borouge to manage port and container operations at Al Ruwais Industrial City, aimed at boosting petrochemical exports. It also expanded its fleet with the delivery of a second LNG carrier and expects to receive its first Very Large Ethane Carrier in Q3 2025. Over $26 billion in contracted future income reinforces its long-term growth outlook. Adnoc L&S is investing in technology to drive efficiency, launching an AI-powered Smart Ports system to cut resource allocation times from three hours to under a minute and partnering with Digital Ocean on a digital platform for offshore vessel chartering. With capital expenditure plans on track and capacity to invest an additional $3 billion by 2030, Adnoc L&S targets a medium-term net debt/Ebitda ratio of 2.0–2.5x, supported by resilient cash flows and long-term contracted revenues.
Mid East Info
08-05-2025
- Business
- Mid East Info
BAHRI REPORTS FIRST QUARTER 2025 RESULTS WITH 18% NET PROFIT GROWTH - Middle East Business News and Information
Q1 2025 EBITDA of SAR 1.20 billion (+14% YoY) and net profit of SAR 533 million (+18% YoY), reflecting resilience across its core shipping businesses amid prevailing market headwinds, and supported by a profit turnaround in Integrated Logistics, new earnings from Marine Services, and increased contributions from associates. Continued fleet expansion and modernization program with seven vessels added, bringing the owned fleet to the 100-vessel milestone. Net debt-to-EBITDA of 1.85x, supported by sustained profitability and a resilient balance sheet. Riyadh, Kingdom of Saudi Arabia – May 2025: The National Shipping Company of Saudi Arabia ('Bahri' or the 'Company', 4030 on the Saudi Exchange), the Kingdom's leading shipping and logistics provider, announced its financial results for the first quarter of 2025 reporting an 18% increase in net profit to SAR 533 million, compared to the same period in 2024, primarily driven by margin expansion offsetting lower revenues in its oil transport business, continued resilience of its chemicals and dry bulk shipping segments amid prevailing market headwinds, a turnaround to profitability of its integrated logistics business, additional earnings from its new desalination barges, and increased contributions from associated companies. Eng. Ahmed Ali Al Subaey, Chief Executive Officer of Bahri, commented: 'Our first quarter results highlight the resilience of Bahri's diversified business portfolio, as we achieved strong earnings growth despite challenging market conditions. Our Oil and Dry Bulk businesses delivered positive EBITDA growth, while optimization efforts in our Chemicals business partly mitigated the impact of market normalization. Likewise, profitability improvements in our Integrated Logistics business, along with strong earnings contributions from our affiliate Petredec Group, validated the effectiveness of our strategy to expand beyond our core shipping businesses and unlock value in complementary sectors. Furthermore, we are scaling up our new desalination business in the Kingdom, and expanded our global presence with the opening of our Singapore office, bringing us closer to our Asia-Pacific customers. During the first quarter, we had a net addition of four modern vessels to our operating fleet, while three other vessels were added soon after quarter-end, bringing our fleet to the 100-vessel mark. Our disciplined approach to fleet expansion and modernization ensures we remain well-positioned to act decisively in the vessel market as attractive opportunities arise. In the face of ongoing global trade and economic uncertainty, Bahri's diversified platform and operational agility continue to underpin our resilience. We are firmly focused on delivering value-accretive growth for our shareholders while playing a central role in transforming the Kingdom's shipping and logistics sector in support of Vision 2030.'
