Bahri, the leading shipping and logistics company in the Kingdom of Saudi Arabia, has delivered solid results for FY 20225 with a record net profit of $2.43 billion, the highest annual earnings in Bahri’s history, supported by strong performance from the oil business unit alongside resilient contributions across the broader portfolio 

Announcing its financial results for the 12-month period ended December 31, 2025, Bahri said its revenue surged 9% to $10.4 billion, mainly supported by strong performance in the second half of the year, while its ebitda hit $5.23 billion, representing an 11% increase compared to 2024. Performance was driven primarily by strong earnings growth from the oil business unit, improving momentum in the second half as well as the benefit of disciplined fleet expansion.

Operating cash flow totalled $3.26 billion, while capital expenditures of $4.25 billion reflected fleet investments, including final payments for eight modern second-hand vessels and initial instalments for ten newbuild vessels scheduled for delivery between 2026 and 2029, it added.

On its Q4 results, Bahri said it had delivered a revenue of $3.26 billion, representing a 47% year-on-year increase and 33% quarter-on-quarter growth, supported by stronger trading activity and improved market conditions in crude oil transportation.

The expansion of Bahri’s owned fleet during 2025, including a net addition of nine Very Large Crude Carriers (VLCCs), enhanced the Company’s ability to capture the upturn in crude tanker markets during the quarter.

The ebitda for the quarter rose 50% year-on-year to $ 1.68 billion, reflecting strong earnings from the Oil business unit, driven by higher realised tanker equivalent rates under charter agreements and increased trading days. 

Marine Services and Dry Bulk also contributed positively, supported by the full operation of three desalination barges and improved profitability from owned dry bulk vessels. These gains were partly offset by softer contributions from Chemicals and Integrated Logistics amid challenging market conditions and lower earnings from affiliated companies.

On the solid performance, CEO Eng. Ahmed Ali Al Subaey, said: "2025 was a defining year for Bahri. We began the year with a clear strategic direction and executed with discipline to deliver record-breaking revenue and earnings, while navigating a dynamic global operating environment." 

"Our focus on prudent and opportunistic growth by adding 12 modern vessels to our fleet, including 10 VLCCs, supported our ability to capture favorable market conditions and increased demand in the crude oil transportation market during the second half of the year," stated Al Subaey.

"Building on these acquisitions, we continued to invest in our fleet, ending 2025 with purchase contracts for 10 newbuild vessels scheduled for delivery over the next four years," he noted.

"Beyond fleet scale, which now exceeds 100 vessels, we emphasized commercial agility and operational focus to protect margins across our portfolio. In our Chemicals and Dry Bulk businesses, we shifted emphasis toward higher margin owned tonnage to enhance earnings quality," remarked Al Subaey.

"We also advanced our diversification efforts through the full commercialization of our mobile desalination barges and the ordering of two offshore support vessels, positioning us to enter last-mile logistics services for offshore clients. At the same time, we strengthened long-term earnings visibility through strategic partnerships and closer engagement with key customers," he added. 

According to him, Bahri's operational excellence remained central throughout the year, supported by its in-house ship management capabilities and an uncompromising focus on safety, reliability, and efficiency across the group's expanding asset base, as reflected in its safety and operational performance.

"Today, Bahri is larger, more diversified, and more resilient. As we enter 2026, we remain focused on growing our core businesses, diversifying our revenue streams, and optimizing operations to deliver sustainable value for our shareholders," he noted. 

"This performance reflects the dedication of Bahri’s employees and seafarers, whose continued efforts support the transformation of the Kingdom’s maritime and logistics sector in line with Vision 2030," he added.-TradeArabia News Service