Latest news with #SAPTCO
Zawya
14-05-2025
- Business
- Zawya
SAPTCO announces 59% drop in Q1-25 net losses
Riyadh: Saudi Public Transport Company (SAPTCO) registered 58.72% lower net losses at SAR 20.07 million in the first quarter (Q1) of 2025, compared with SAR 48.62 million in Q1-24. Meanwhile, the revenues increased by 10.63% to SAR 341.33 million in Q1-25 from SAR 308.51 million in the same period a year earlier, according to the financial results. The loss per share stood at SAR 0.19 in the first three months (3M) of 2025, compared to SAR 0.39 in Q1-24. On a quarterly basis, the Q1-25 net losses widened by 250.03% from SAR 5.73 million in the October-December 2024 period, while the revenues rose by 12.71% from SAR 302.82 million. During the January-December 2024 period, SAPTCO turned profitable at SAR 15.11 million, against net losses worth SAR 24.17 million in 2023. The revenues declined by 7.01% year-on-year (YoY) to SAR 1.45 billion at the end of December 2024 from SAR 1.56 billion. The loss per share amounted to SAR 0.08 last year, versus SAR 0.28 in 2023. In the first nine months (9M) of 2024, SAPTCO recorded a net profit of SAR 20.85 million, compared to SAR 44.73 million in the same period of 2023.
Leaders
06-05-2025
- Business
- Leaders
Tabuk Pioneers Saudi Arabia's Green Transit Revolution with Electric Buses
Saudi Arabia's northern city of Tabuk has launched the Kingdom's first electric buses under a new public transit project, marking a significant milestone in the country's shift towards sustainable mobility. Prince Fahd bin Sultan, Emir of Tabuk Region, inaugurated on Tuesday the operational phase of the city's new public bus transit system, labelling the first project in the Kingdom to implement electric buses within a public transportation network. Electric buses make up 25% of the new fleet, highlighting Saudi Arabia's commitment to sustainable mobility. The modern network covers five main routes totaling 136 kilometers across the city. It is operated by 30 advanced buses, including electric ones, staffed by 90 trained Saudi drivers. A total of 106 stations link key residential, commercial, and administrative hubs. This aims to ease daily commutes for residents, workers, and visitors. Supporting Vision 2030 Prince Fahd praised King Salman and Crown Prince Mohammed bin Salman for their continued support in advancing infrastructure and improving quality of life. He described the transit project as a transformative step that reflects the broader goals of Saudi Vision 2030. This project will significantly ease congestion and improve mobility across Tabuk. Following the ceremony, Prince Fahd toured the new system aboard one of the buses. He received a detailed briefing on routes, service technology, and real-time tracking features offered through integrated digital apps to improve the passenger experience. Commitment to Sustainable Transport Dr. Rumaih Al-Rumaih, Acting President of the Transport General Authority, called the project a 'qualitative leap' in public transit. He reiterated the authority's commitment to sustainable, safe, and efficient urban mobility across Saudi cities. Over 104 million passengers used similar bus networks across 15 cities in 2024, a sign of growing public trust in mass transit. The Tabuk project is operated by SAPTCO, which is tasked with ensuring high-quality service and system efficiency throughout the region. This initiative is a significant step towards a greener future for Saudi Arabia. Tabuk's electric bus project is a major step towards sustainable urban mobility in Saudi Arabia. It reflects the Kingdom's commitment to reducing its carbon footprint and improving the quality of life for its citizens. This project is a testament to Saudi Arabia's vision for a greener future. Short link : Post Views: 30
Gulf Insider
06-05-2025
- Business
- Gulf Insider
Tabuk Becomes First Saudi City To Launch Electric Buses Under Public Transit Project
Prince Fahd bin Sultan, Emir of Tabuk Region, inaugurated on Tuesday the operational phase of the city's new public bus transit system — marking the Kingdom's first implementation of electric buses within a public transportation network. Electric buses make up 25% of the new fleet — a significant milestone in Saudi Arabia's shift toward sustainable mobility. With this initiative, Tabuk becomes the first Saudi city to deploy electric buses as part of a full-scale public transit system. The modern network covers five main routes totaling 136 kilometers across the city, operated by 30 advanced buses staffed by 90 trained Saudi drivers. A total of 106 stations link key residential, commercial, and administrative hubs, aiming to ease daily commutes for residents, workers, and visitors. Prince Fahd praised the leadership of King Salman and Crown Prince Mohammed bin Salman for their continued support in advancing infrastructure and improving quality of life. He described the transit project as a transformative step that reflects the broader goals of Saudi Vision 2030. 'This project will significantly ease congestion and improve mobility across Tabuk, while also enhancing the sustainability and efficiency of city transport,' he said. 'Saudi citizens always support successful projects — and this will be no exception.' Following the ceremony, Prince Fahd toured the new system aboard one of the buses, receiving a detailed briefing on routes, service technology, and real-time tracking features offered through integrated digital apps to improve the passenger experience. Acting President of the Transport General Authority Dr. Rumaih Al-Rumaih called the project a 'qualitative leap' in public transit and reiterated the authority's commitment to sustainable, safe, and efficient urban mobility across Saudi cities. He noted that over 104 million passengers used similar bus networks across 15 cities in 2024 — a sign of growing public trust in mass transit. The Tabuk project is operated by SAPTCO, which is tasked with ensuring high-quality service and system efficiency throughout the region.
Saudi Gazette
06-05-2025
- Business
- Saudi Gazette
Tabuk becomes first Saudi city to launch electric buses under public transit project
Saudi Gazette report TABUK — Prince Fahd bin Sultan, Emir of Tabuk Region, inaugurated on Tuesday the operational phase of the city's new public bus transit system — marking the Kingdom's first implementation of electric buses within a public transportation network. Electric buses make up 25% of the new fleet — a significant milestone in Saudi Arabia's shift toward sustainable mobility. With this initiative, Tabuk becomes the first Saudi city to deploy electric buses as part of a full-scale public transit system. The modern network covers five main routes totaling 136 kilometers across the city, operated by 30 advanced buses staffed by 90 trained Saudi drivers. A total of 106 stations link key residential, commercial, and administrative hubs, aiming to ease daily commutes for residents, workers, and visitors. Prince Fahd praised the leadership of King Salman and Crown Prince Mohammed bin Salman for their continued support in advancing infrastructure and improving quality of life. He described the transit project as a transformative step that reflects the broader goals of Saudi Vision 2030. 'This project will significantly ease congestion and improve mobility across Tabuk, while also enhancing the sustainability and efficiency of city transport,' he said. 'Saudi citizens always support successful projects — and this will be no exception.' Following the ceremony, Prince Fahd toured the new system aboard one of the buses, receiving a detailed briefing on routes, service technology, and real-time tracking features offered through integrated digital apps to improve the passenger experience. Acting President of the Transport General Authority Dr. Rumaih Al-Rumaih called the project a 'qualitative leap' in public transit and reiterated the authority's commitment to sustainable, safe, and efficient urban mobility across Saudi cities. He noted that over 104 million passengers used similar bus networks across 15 cities in 2024 — a sign of growing public trust in mass transit. The Tabuk project is operated by SAPTCO, which is tasked with ensuring high-quality service and system efficiency throughout the region.
Zawya
28-01-2025
- Business
- Zawya
SAPTCO rolls out $30.4mln deal with Development of Madinah Authority
Riyadh – Saudi Public Transport Company (SAPTCO) inked a SAR 113.84 million contract with the Development of Madinah Authority on 26 January 2025, according to a bourse filing. The deal covers operating shuttle transportation services for the Pilgrims Experience Program in Madinah for one year. This contract is expected to reflect positively on SAPTCO's financial results during the first quarter (Q1) of 2025. In the first nine months (9M) of 2024, SAPTCO logged net profits valued at SAR 20.85 million, down 53.39% year-on-year (YoY) from SAR 44.73 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
