Petro Rabigh in the red (again) in 3Q + BinDawood, Flynas and more

PETRO RABIGH-

Rabigh Refining and Petrochemical Company slightly narrowed its net losses to SAR 1.2 bn in 3Q 2025, compared to SAR 1.3 bn in the same period last year, on the back of lower financial costs which were offset by lower margins and sales volume, it said in a Tadawul disclosure. Revenue declined 5.9% y-o-y to SAR 9.2 bn due to lower prices and sales volume in petrochemical products.

On a 9M basis, the company’s net losses reached SAR 3.3 bn, compared to SAR 3.8 bn over the same period last year. Revenue saw an 11.3% decline to SAR 24.4 bn.

Accumulated losses rose to 51.3% of capital (SAR 8.6 bn) in September. A 60-day full shutdown of the production complex, rising feedstock costs, and shipping disruptions in the Red Sea weighed down on the company’s results, according to the disclosure.

FLYNAS-

Saudi carrier flynas reported a 4% y-o-y increase to SAR 87 mn to its adjusted bottom line for 3Q 2025, according to an earnings release (pdf). The low-cost carrier’s top line recorded an inch-up of 6% y-o-y to reach SAR 2.1 bn during the same period.

On a 9M basis: The carrier saw its adjusted net income grow 18% y-o-y to SAR 426 mn in 9M 2025, while its revenues climbed up 3% y-o-y to SAR 6.1 bn during the same period.

Operational highlights: Flynas added nine new jets, boosting its fleet to 68 aircraft during 9M — with two new additional A320neos landing during the quarter, bringing the total new deliveries to seven aircraft YTD. The airline also launched 10 new routes across seven countries.

LOOKING AHEAD- The fleet is expected to grow from 68 to 74 aircraft within the next two months, with a revised 2030 target of 150-160 aircraft, down from 250, Flynas CEO Bandar Al-Mohanna told Al Arabiya. The airline plans to deploy its SAR 4.6 bn liquidity to support the expansion, extend routes across Europe and Asia, and advance its digital transformation.

Making a comeback? Flynas reported a 3% y-o-y drop to SAR 191 mn to its adjusted bottom line in 2Q 2025, while its top line also recorded a slight dip of 1% y-o-y to reach SAR 2.1 bn in 2Q.

BINDAWOOD HOLDING-

BinDawood Holding’s net income went up 14.9% y-o-y to SAR 40.2 mn in 3Q 2025, the company said in an earnings release (pdf). The gains were partially offset by increased operating costs, lower returns from financial deposits, and interest expenses related to financing the acquistion ofZahrat Al Rawdah Pharma.

Revenue rose 12.3% y-o-y to SAR 1.5 bn during the quarter, driven by growth in the core grocery business despite challenging market conditions, supported by the ongoing expansion of the BinDawood and Danube store networks.

On a 9M basis, BinDawood’s net income came in at SAR 156.4 mn, down 8.3% y-o-y, while its revenue climbed 10% y-o-y to SAR 4.7 bn.

ALSO- The company’s board greenlit a SAR 45.6 mn dividend payout for 1H 2025 at SAR 0.04 per share, according to a separate disclosure. The distribution date is set for 18 December.

DAR AL ARKAN-

Real estate giant Dar Al Arkan reported an 89.7% y-o-y increase in net income to SAR 255.6 mn in 3Q 2025, driven by higher property sales and increased project management and contracting revenues, it said in a disclosure to Tadawul. Revenue grew 10.7% to SAR 1 bn during the quarter.

In the first nine months of 2025, the developer’s bottom line rose 55.2% y-o-y to SAR 703.6 mn, while its top line inched up 2% to SAR 2.8 bn.

MBC GROUP-

MBC Group saw its net income rise 8.4% y-o-y to SAR 13.8 mn in 3Q 2025, it said in a disclosure to Tadawul (pdf). Revenue increased 7% y-o-y to SAR 810 mn over the same period, supported by growth in the Shahid streaming segment and media and entertainment initiatives, which offset a decline in broadcasting revenues.

On a 9M basis, the group’s net income jumped 70.8% y-o-y to SAR 427.8 mn, while its revenue climbed nearly 30% y-o-y to SAR 3.8 bn.

SAUDI GROUND SERVICES-

Saudi Ground Services’ (SGS) net income rose 24.3% y-o-y to SAR 101.5 mn in 3Q 2025, it said in a disclosure to Tadawul. Productivity enhancement and expense rationalization underpinned profitability amid modest 2.2% y-o-y top line growth to SAR 683.4 mn.

On a 9M basis, SGS’s net income grew 29.1% y-o-y to SAR 298.5 mn, while its revenue inched up 1.8% y-o-y to SAR 2 bn.

SMASCO-

Saudi Manpower Solutions (Smasco) posted a 40% y-o-y rise in net income to SAR 40.6 mn in 3Q 2025, supported by a 59% jump in gross earnings on the back of stronger demand and profitability initiatives and lower admin expenses, it said in a filing to the bourse yesterday. Meanwhile, revenue grew 15.3% y-o-y to SAR 534.2 mn during the quarter, driven by a 15% increase in corporate demand and an 18% rise in individual demand.

On a 9M basis, Smasco’s net income increased 7.3% y-o-y to SAR 110.6 mn, while its revenue climbed 9.1% y-o-y to SAR 1.5 bn.