Saudi Logistics Services (SAL) saw its net income decline around 26.6% y-o-y to SAR 153 mn for 1Q 2025, according to a company disclosure and earnings release (pdf). The firm’s revenues slipped 15.1% y-o-y to SAR 384 mn.

Behind the numbers: Management attributed the drop in net income to a decline in its cargo handling revenues, a shift in the product mix, and the allocation of higher provisions for expected credit loss in its logistics division. As for the dip in revenues, it is attributable to a shipment volume drop, volume normalization, and seasonal differences impacting the product mix for the logistics division, the statement added.

SAL’s 1Q agenda: The firm is developing a SAR 4 bn logistics zone in Riyadh’s Falcon City and is setting up a SAR 12 mn air cargo terminal at Madinah’s Prince Mohammad Bin Abdulaziz International Airport in collaboration with Madinah airport operator Tibah Airports.

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