FLYNAS- <\/p>\n
Homegrown budget airline flynas saw its adjusted<\/strong> bottom line fall<\/strong> 3% y-o-y<\/strong> to SAR 191 mn <\/strong>in 2Q 2025<\/strong>, on the back of increasing fleet depreciation costs, according to an earnings release (pdf)<\/a>. Revenue dipped 1% y-o-y to reach SAR 2.1 bn during the quarter.<\/p>\n The carrier\u2019s 1H performance ended on a more positive note<\/strong>, with adjusted net income rising 22% y-o-y to SAR 339 mn and top line increasing 1% to almost SAR 4 bn, largely driven by a solid Haj season.<\/p>\n The results were on<\/strong> target despite the dip<\/strong>, flynas CEO Bander Al Mohanna said in the release, pointing to headwinds including geopolitical tensions, a temporary suspension of pre-Hajj visas, and the grounding of some aircraft due to global delays in engine parts.<\/p>\n Looking ahead, flynas sees its revenue growing between 6-18% in 2025<\/strong>, Aleqtisiadiah<\/a> reports. The airline is also set to open two new centers in Saudi Arabia for pilot training and aircraft maintenance to cut operational costs, Al Mohanna told Asharq Business (watch, runtime: 10:34<\/a>). It plans to launch flights to Kenya and Kosovo this year and is exploring options in Russia. It expects three more aircraft by year-end and a delivery of 30 Airbus A330neo wide-body jets in late 2026 or early 2027, supporting a strategic shift to long-haul flights.<\/p>\n REFRESHER-<\/strong> Flynas went public with a 30% stake on Tadawul\u2019s main market in June<\/a>, marking the Kingdom\u2019s largest IPO so far this year<\/a> and the highest-grossing Saudi IPO since Aramco\u2019s stellar USD 29.4 bn debut in 2019.<\/p>\n A rough landing:<\/strong> While the IPO saw institutional and retail investors flock to subscribe for the USD 4.1 bn issuance, the airline\u2019s shares dipped 3.4%<\/a> on debut to close at SAR 77.30 apiece in its first week. The airline\u2019s IPO marked the region\u2019s first main market listing since the outbreak of the Israel-Iran conflict earlier that month \u2014 a geopolitical shock that triggered a regional sell-off<\/a>, denting investor sentiment. Aviation stocks were among the hardest hit due to widespread disruptions to commercial flight schedules<\/a>.<\/p>\n \n KINGDOM HOLDING-<\/p>\n Kingdom<\/a><\/strong>Holding<\/a><\/strong> posted a 35.1<\/strong>% y-o-y drop in net income to SAR 405.1 mn in 2Q 2025<\/strong>, driven by lower contributions from equity-accounted investees, reduced other gains, higher hotel and operating costs, lower finance and dividend income, increased admin and marketing expenses, and higher taxes, it said in a disclosure to Tadawul<\/a> yesterday. Revenue also dipped 3.8% y-o-y to SAR 623.1 mn over the same period due to lower dividend income and hotels and other operating revenues.<\/p>\n On a 1H basis<\/strong>, Kingdom Holding\u2019s net income saw a 2% y-o-y uptick to SAR 836.7 mn, while its revenue grew 12.6% y-o-y to SAR 1.4 bn.<\/p>\n \n SAUDI ELECTRICITY COMPANY-<\/p>\n Saudi Electricity Company<\/a><\/strong> posted a 21.6% y-o-y rise in net income to SAR 5.3 bn <\/strong>in 2Q<\/strong> 2025<\/strong>, supported by higher electricity demand, an expanded regulated asset base, and growth in project revenues, it said in a disclosure to Tadawul<\/a> on Sunday. Revenue also rose 23.9% y-o-y to SAR 27.7 bn during the quarter, boosted by an increasing subscriber base and demand, along with network expansion.<\/p>\n On a 1H basis<\/strong>, the company\u2019s bottom line grew 19.3% y-o-y to SAR 6.3 bn, while its top line increased 23.5% y-o-y to SAR 47.2 bn.<\/p>\n \n MBC GROUP-<\/p>\n MBC<\/a><\/strong>Group<\/a><\/strong>\u2019s net in<\/strong>come fell 38.3% y-o-y to SAR 71.9 mn in 2Q 2025<\/strong>, as the timing of Ramadan (which fell entirely in 1Q) dampened its broadcasting segment, the firm said in an earnings release (pdf<\/a>)<\/a> yesterday. However, revenue inched up 2.5% to SAR 987.9 mn, buoyed by gains in the network\u2019s streaming platform Shahid (+17.9%) and its media and entertainment initiatives (+7.9%) segment, which offset a 5.9% decline in broadcasting and other commercial activities.<\/p>\n The company\u2019s bottom line grew 41.1% y-o-y to SAR 335.4 mn in 1H 2025<\/strong>, while its top line climbed 37.8% y-o-y to SAR 3 bn.<\/p>\n Looking ahead:<\/strong> MBC Group is doubling down on its expansion in the Kingdom, developing a central production hub in Riyadh\u2019s Narjis district to boost efficiency, which is expected to wrap up by early 2026, CEO Mike Sneesby told Al Arabiya (watch, runtime: 6:55<\/a>). The company expects continued growth from TV and streaming in 2H 2025 by focusing on premium content, cost-consciousness, and building new partnerships.<\/p>\n Major plays: <\/strong>MBC is dropping its costly Saudi Pro League contract this month to reinvest in other content. The group also formed a complementary partnership with Netflix, which it views as a global leader, while Shahid retains regional leadership, Sneesby said.<\/p>\n \n ALMUNAJEM FOODS CO.-<\/p>\n Almunajem Foods<\/a><\/strong> saw its net income drop 51.4% y-o-y to SAR 31 mn in 2Q 2025<\/strong>, weighed down by weaker gross margins in its red and white meat category and higher operating and financial costs resulting from the company\u2019s expansion plans, it said in a disclosure to Tadawul<\/a> on Sunday. Revenue declined 3.5% y-o-y to SAR 797.3 mn during the quarter, as the frozen poultry market met unfavourable conditions.<\/p>\n In the first half of the year, the company\u2019s net income slumped 60.1% y-o-y<\/strong> to SAR 71 mn, while its revenue shed 1.8% y-o-y to SAR 1.7 bn.<\/p>\n \n AL MAWARID MANPOWER CO.-<\/p>\n Al Mawarid Manpower Company<\/a><\/strong> reported a 39.4% y-o-y jump in net income to<\/strong> SAR 32.4<\/strong> mn in 2Q 2025<\/strong>, fueled mainly by higher revenues and improved workforce utilization, it said in a Tadawul disclosure<\/a> yesterday. Revenue climbed 29.7% y-o-y to SAR 624.4 mn during the quarter on the back of a rise in available workforce.<\/p>\n In the first half of the year, the company\u2019s bottom line grew 25.5% y-o-y<\/strong> to SAR 62.3 mn, while its top line rose 31.7% y-o-y to SAR 1.2 bn.<\/p>\n Dividends: <\/strong>Al Mawarid\u2019s board approved a SAR 20.3 mn dividend payout for 1H 2025 at SAR 1.35 per share, it said in a separate disclosure<\/a>. The distribution date is set for 28 August.<\/p>\n ALSO-<\/strong> The company\u2019s board recommended transferring its SAR 45 mn statutory reserve to retained earnings, pending shareholders' approval, according to a separate disclosure<\/a>.<\/p>\n \n SAUDI PAPER MANUFACTURING COMPANY-<\/p>\n Saudi Paper Manufacturing Company<\/a><\/strong> (SPM) posted a 46.5% y-o-y drop in net income to<\/strong> SAR 13.9 mn in 2Q 2025<\/strong>, as foreign exchange losses and higher provisions for receivables outweighed improved margins, it said in a disclosure to Tadawul<\/a> yesterday. However, revenue rose 3.1% y-o-y to SAR 208.5 mn, supported by higher sales of paper rolls and converting products. <\/p>\n In the first half of the year, SPM\u2019s net income fell 44.4% y-o-y to SAR 34.6 mn<\/strong>, while its revenue inched up 1.3% y-o-y to SAR 437 mn.<\/p>\n","protected":false},"excerpt":{"rendered":" PLUS: Earnings from Kingdom Holding, MBC Group, Saudi Electricity Company, and more<\/p>\n","protected":false},"author":1,"featured_media":99611,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[1294,285,10,481,506,1390,4422],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-almunajem-foods","tag-earnings-watch","tag-enterpriseam-ksa","tag-flynas","tag-kingdom-holding-company","tag-saudi-electricity-company-sec","tag-saudi-paper-manufacturing-company","wpautop","entry"],"acf":{"mongo_id":"3fd499d8-1c1b-40b5-8a4b-2dc19df3e4ff","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/856.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Flynas\u2019 bottom line takes slight dip in 2Q in the wake of IPO costs","related_issue":[99597],"teaser":"PLUS: Earnings from Kingdom Holding, MBC Group, Saudi Electricity Company, and more","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.27d96dd9-2b22-4256-b9d9-084354f87a61.mp3"},"yoast_head":"\n