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Ahmed Saleh

Sector Performance Improves, Particularly Oil and Chemicals Transportation, Increasing Revenues

The improvement in all sectors' performance has led to an increase in revenues, particularly in the oil transportation sector, where revenues have increased by SR 2,017 million. Revenues in the chemicals transportation sector have also increased by SR 833 million, thanks to an improvement in shipping rates, an increase in shipping activity, and the addition of new vessels to Bahri's fleet. The realized capital gain of SR 160 million from the sale of boats included in the fleet modernization plan accounts for the increase in other income of SR 161 million from the previous year to the present year. The increase in finance costs of SR 117 million has limited the growth in net earnings during the current year compared to last year. To align with the presentation of the current year, several comparison numbers from the prior year have been reclassified.



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