Latest news with #AbdulilahAldrees
Argaam
4 days ago
- Automotive
- Argaam
Aldrees stations hit 1,200 by Q2-end: CEO
Aldrees Petroleum and Transport Services Co. operated around 1,200 fuel stations by the end of Q2 2025, with a fleet of nearly 600 fuel transport trucks, CEO Abdulilah Aldrees said. He told Argaam the year-on-year (YoY) rise in Q2 net profit was driven by higher sales in fuel and logistics, increased income from bank deposits and sukuk, and a pickup in other revenues. This offset weaker returns from the joint venture, and higher selling, general, administrative, financing and zakat costs. Aldrees said the drop in joint venture returns was driven by higher general and administrative (G&A) and financing costs, but the overall impact on performance was limited. He said the 35% revenue growth in Q2 2025 was fueled by network expansion, better transport rates, and higher diesel prices, supporting overall business growth. Petroleum sales hit SAR 6.02 billion in Q2, with NAQEL Express contributing SAR 194 million, bringing total revenue to SAR 6.21 billion. Aldrees expects strong performance to continue in Q3 2025 and in the coming periods. According to Argaam 's data, Aldrees posted a 25% YoY profit increase to SAR 199.7 million in H1 2025, up from SAR 159.8 million a year earlier, while Q2 profit rose 21% YoY to SAR 99.7 million.
Argaam
23-04-2025
- Business
- Argaam
Aldrees CEO: Deposit, sukuk returns exceed SAR 14M in Q1
Aldrees Petroleum and Transport Services Co. realized SAR 7.2 million revenue on bank deposits, while returns on investment in sukuk reached SAR 7.1 million in Q1 2025, CEO Abdulilah Aldrees told Argaam in an interview. At the meantime, there are currently no plans to raise these investments, the CEO added. He explained that the growth of Q1 2025 profit is driven by the increase sales in the transport and oil services segments, in addition to higher revenues from bank deposits and investments in sukuk, and improved results from the joint venture. Aldrees' Q1 2025 sales emanated from SAR 5.64 billion for the oil services segment and SAR 188.8 million for the transport business, bringing the company's total sales to SAR 5.83 billion. Such positive performance was achieved despite a decline in other revenues, an increase in selling, marketing, general, and administrative expenses, and an increase in financing and Zakat expenses, the exec noted. He further clarified that the revenues growth was supported by the expansion in the number of stations, higher transportation prices, and improved operational efficiency. The company's stations reached 1,147 by the end of the three-month period. Meanwhile, Aldrees pointed out that the company expects continued profit growth during Q2 2025.
