STC- Saudi Telecom Company (STC) saw its net income rise 15.7% y-o-y to SAR 3.8 bn in 2Q 2025, on the back of a stronger gross profit and reduced costs, it said in a disclosure to Tadawul yesterday. The figure exceeds analysts’ expectations of SAR 3.5 bn in net income.Revenue inched up 2.6% y-o-y to SAR 19.5 bn over the same period, buoyed up by growing revenue streams from commercial unit, carriers and wholesale unit, and STC’s subsidiaries.Over the first half of the year, STC’s bottom line rose 13.4% y-o-y to SAR 7.5 bn, while its top line was slightly up 2.1% y-o-y to SAR 38.7 bn, recording its highest-ever six-month revenue, according to the disclosure.ALSO- The telecoms giant will distribute around SAR 2.7 bn in 2Q dividends for its shareholders at SAR 0.55 apiece, according to a separate disclosure. The distribution date is set for Tuesday, 19 August.(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)SOLUTIONS-Arabian Internet and Communications Services Company (solutions by stc) saw its net income slip 1.5% y-o-y to SAR 446 mn in 2Q 2025, it said in a disclosure to Tadawul yesterday, still beating Bloomberg’s analysts’ forecasts of SAR 394.3 mn.Revenue increased 4.7% y-o-y to SAR 2.9 bn during the same period, supported by 10.4% growth in core ICT services and a 2% increase in IT managed and operational services, despite a 5.3% decrease in digital services.On a 1H basis: Solutions reported SAR 807 mn in net income during 1H 2025, up 0.1% from the same period last year. Meanwhile, revenue rose 2.6% to SAR 5.7 bn during the period.ZAIN KSA-Mobile Telecommunication Company Saudi Arabia (Zain KSA) saw its net income rise 21% y-o-y to SAR 127 mn in 2Q 2025, the company said in a disclosure to Tadawul. The increase — exceeding Bloomberg’s analysts’ expectations of SAR 114 mn for the quarter — was driven by growth in high-margin segments and lower financing costs, offset by a one-off government grant of SAR 52 mn recorded in 2Q 2024.Revenue increased 4% y-o-y to SAR 2.7 bn over the same period, driven by Zain KSA’s consumer segment, particularly 5G services, and contributions from its subsidiary Tamam.On a 1H basis, Zain KSA’s bottom line was up 27.9% y-o-y at SAR 220 mn, while its top line expanded 5.1% y-o-y to SAR 5.3 bn.SABIC AGRI-NUTRIENTS-Sabic Agri-Nutrients posted a net income of SAR 1.1 bn in 2Q 2025, up 50.4% y-o-y, the company said in a disclosure to Tadawul yesterday, surpassing Bloomberg’s analysts’ expectations of SAR 949.3 mn. The growth was attributed to a 23% rise in sales and gains from an associate and joint venture, helping offset rising costs of goods sold amid increased feedstock costs.Revenues grew 22.8% y-o-y to SAR 3.3 bn over the same period, thanks to a 23% climb in average selling prices.On a 1H basis: Sabic reported SAR 2 bn in net income for the first six months, up 32.2% from the same period last year. Revenue rose 22.5% to SAR 6.4 bn during the same period.YANSAB-Yanbu National Petrochemical Co. (Yansab) reported an 80.2% y-o-y drop in its 2Q 2025 net income to SAR 44.5 mn, it said in a disclosure to Tadawul and its earnings release (pdf). The company attributed the decline to higher production costs and lower average sales prices. Meanwhile, the company’s revenue fell 15.9% to SAR 1.4 bn over the same period.On a 1H basis, Yansab’s bottom line shed 82% y-o-y to SAR 58.2 mn, while its top line slid 4.6% y-o-y to SAR 2.9 bn.Looking ahead, Yansab anticipates better demand and stable prices for polypropylene and polyethylene in Asia during 3Q 2025, along with an expected increase in monoethylene glycol prices, the firm’s President Wazen bin Mubarak Al Solami said.ALSO- Yansab’s board approved the distribution of SAR 562.5 mn in interim dividends for 1H 2025 at SAR 1 apiece, according to a separate disclosure. The distribution date is set for 11 September.Dr. SULAIMAN AL HABIB-Dr. Sulaiman Al Habib Medical Services Group’s net income rose 6.5% y-o-y to SAR 591 mn in 2Q 2025, according to a disclosure to Tadawul. The figure beat Bloomberg analysts’ estimates for the quarter of SAR 578.8 mn, despite gains being capped by fixed costs related to new expansions.Revenue jumped 31.5% y-o-y to SAR 3.4 bn over the same quarter, which also came higher than Bloomberg’s analyst expectation of SAR 3.3 bn, steered by greater hospital patient volumes and pharma sales.On a 1H basis, the group’s bottom line jumped 3.8% y-o-y to SAR 1.1 bn, while its top line increased 28.4% y-o-y to SAR 6.5 bn.ALSO- The group’s board greenlit the distribution of SAR 416.5 mn in dividends for 2Q 2025 at SAR 1.19 per share, starting 18 August, according to a separate disclosure.SAUDI TADAWUL GROUP HOLDING-Saudi Tadawul Group Holding’s net income fell 41.3% y-o-y to SAR 96.2 mn in 2Q 2025, driven by lower operating revenues and a 15.9% increase in operating expenses attributed to the group’s growth strategy implementation, it said in a disclosure to Tadawul yesterday. The figure is way below analysts’ forecast of SAR 329 mn.Revenue also dropped 9.8% y-o-y to SAR 318.9 mn during the quarter, due to lower trading and post-trade services revenues following a 32.2% drop in average daily trading values. This was partially offset by an 8.1% increase in revenue from non-trading linked services.On a 1H basis, the group reported SAR 216.8 mn in net income, down 40.7% y-o-y. Meanwhile, revenue fell 12.7% y-o-y to SAR 647.1 mn.NADEC-The National Agricultural Development Company (Nadec) saw its net income rise 3% y-o-y to SAR 115.3 mn in 2Q 2025, driven by higher sales across its dairy, protein, and agri segments, along with increased treasury income and dividends, according to a disclosure to Tadawul.Revenue grew 5.1% y-o-y to SAR 830.5 mn during the quarter, falling short of the SAR 874 mn projected by Bloomberg’s analysts, Asharq Business reports. On a 1H basis, Nadec’s net income was up 2.6% y-o-y at SAR 218.7 mn, while revenue rose 11.8% y-o-y to SAR 1.8 bn, supported by an increase in agri and protein sales.ADVANCED PETROCHEMICAL-Advanced Petrochemical’s bottom line grew 95.2% y-o-y to SAR 82 mn in 2Q 2025, as a result of lower propane and propylene prices and the absence of one-off losses on investment reported last year, it said in a Tadawul disclosure yesterday.Revenue also rose 7.6% over the same quarter to SAR 698 mn, pushed up by a 20% increase in sales from the trial production of a new plant, offsetting a 10% decrease in netback prices.Over 1H 2025, the company’s net income swung back into the black with SAR 153 mn, up from a net loss of SAR 17 mn in 1H of last year. Revenue jumped 35.4% to SAR 1.3 bn over the same period.

Construction begins on a new livestock farming plant in Hail: Al Ra’i National Livestock, a subsidiary of National Agricultural Development Company (Nadec), broke ground on a new livestock farming facility in the city of Hail, Nadec said in a disclosure to Tadawul.The details: Some SAR 2 bn will be funneled into the intensive farming facility to produce some 1 mn heads of sheep per year by 2030, with 30% of its total production to be contracted to small local livestock farmers. What we know about the funding: Al Ra’i landed a SAR 1.11 bn, 15-year tenor loan from the Agricultural Development Fund to finance the project in March. The instrument is backed by a mortgage on Wadi Al Dawasir lands owned by Nadec and corporate guarantees provided by other partners.Addressing the gap: The farming project aims to produce red meat to bridge the gap in local demand and reduce imports, Nadec Chairman Abdulaziz Al Rabdi told Al Arabiya. The plant will generate new direct and indirect jobs through different schemes involving third parties, he added.ALSO- Al Ra’i signed MoUs with the University of Hail to enable student training and research, and with the Sulaiman Al Rajhi Foundation to support leather and wool family businesses. Another MoU with Entag Association will provide local training and support programs.Nadec has been ramping up efforts to localize red meat production, inking a 10-year agreement in March with UK-based Hilton Foods to process and package red meat here at home under a new JV. The company also partnered with United Feed last year to set up a JV for livestock and meat production.

SABIC- Saudi Basic Industries Corp. (Sabic) moved into the red, reporting a net loss of SAR 1.2 bn in 1Q 2025, compared to a net income of SAR 250 mn in the same quarter a year earlier, the chemicals giant said in an earrings release (pdf). The results came short of analysts’ expectations which projected SAR 699 mn in net income. Meanwhile, revenue rose 6% y-o-y during the quarter to SAR 34.6 bn.The drivers: The loss was driven by SAR 1.07 bn in restructuring costs, SAR 340 mn in additional operational and feedstock costs, and SAR 100 mn in costs to repair a US facility damaged by freezing, CFO Salah Al Hareky told Aleqtisadiah, adding that Sabic is seeking ins. reimbursement for the US site repair.Restructuring and outlook: Restructuring efforts — aimed at improving long-term competitiveness — are ongoing and expected to be finalized by year-end, CEO Abdulrahman Al Fageeh confirmed in a press conference (watch, runtime: 20:35). Overcapacity remains a major challenge in the global petrochemicals sector, but that Sabic is proceeding with its sustainability-focused projects, particularly in China, Al Fageeh added.Market reax: Sabic shares fell 2.8% on the Saudi exchange following the results. The stock is down over 10% in the year-to-date, underperforming TASI.DR. SULAIMAN AL HABIB MEDICAL SERVICES-Dr. Sulaiman Al Habib Medical Services Group posted a 1% y-o-y rise in net income to SAR 557 mn in 1Q 2025, with gains capped by operational costs related to new expansions, it said in a disclosure to Tadawul. The top line jumped 25.2% y-o-y to SAR 3.16 bn in the same period, steered by greater hospital patient volumes and pharmacy sales supported by recent openings in Jeddah and Riyadh.ALSO- The group’s BoD approved a SAR 392 mn dividend distribution for 1Q 2025 at SAR 1.12 apiece, it said in a separate disclosure, setting the distribution date for 26 May.SAUDI AUTOMOTIVE SERVICES-Saudi Automotive Services (Sasco) saw its net income drop 59.7% y-o-y to SAR 4.28 mn in 1Q 2025, tugged down by higher sales, marketing, and financing expenses, and fair value losses on financial assets, according to an earnings release (pdf). Revenue rose 12.5% y-o-y to SAR 2.76 bn, supported by higher fuel sales and diesel prices, as well as improved performance by Palm stores and the transportation segment.LUBEREF-Saudi Aramco Base Oil Company (Luberef) saw its net income drop 7.3% y-o-y to SAR 221.5 mn in 1Q 2025, weighed down by lower by-products crack margins, it said in a disclosure to Tadawul. Revenue slightly slipped 2.6% y-o-y to SAR 2.1 bn over the same period on the back of weaker by-product sales despite a stronger base oil crack margins.THE NATIONAL AGRICULTURAL DEVELOPMENT CO.-The National Agricultural Development Company (Nadec) saw a 2.1% y-o-y increase in net income to SAR 103.4 mn in 1Q 2025, buoyed by lower general and administrative, finance, and sales costs, according to a disclosure to Tadawul. Meanwhile, revenue grew 17.9% y-o-y to SAR 1.01 bn, supported by higher sales in the agricultural, protein, and dairy and beverages segments.DAR ALARKAN-Dar Alarkan Real Estate reported a 36.3% y-o-y rise in net income to SAR 209.3 mn in 1Q 2025, driven by an increase in lease revenue, lower finance costs, and gains from Islamic murabaha deposits, according to a disclosure to Tadawul. Meanwhile, revenue climbed 7.8% y-o-y to SAR 932 mn during the same period, buoyed by higher property sales.MOUWASAT MEDICAL SERVICES-Mouwasat Medical Services’ net income climbed 14.8% y-o-y to SAR 197.1 mn in 1Q 2025, supported by revenue growth, higher other income, lower impairment provisions, reduced financing costs, and lower Zakat expenses, it said in a disclosure to Tadawul. Revenues also grew 5.8% y-o-y to SAR 764.4 mn, driven by higher outpatient visits, stronger inpatient occupancy, and continued benefits from improved client contracts.EASTERN PROVINCE CEMENT-Eastern Province Cement’s net income shrunk 21.5% y-o-y to SAR 62 mn, on weaker precast sales, lower investment income, an impairment loss, and higher expenses, it said in a disclosure to Tadawul. Its topline inched down 2.3% y-o-y to SAR 299 mn on the back of weaker precast sales.CITY CEMENT-City Cement posted a net income of SAR 51.5 mn in 1Q 2025, up 23.9% y-o-y, while revenue rose 24.6% y-o-y to SAR 149.3 mn, both driven by higher sales volume and value, it said in a disclosure to Tadawul.

A Nadec subsidiary secures SAR 1.11 bn financing: Al Ra’i National Livestock — a subsidiary of National Agricultural Development Company (Nadec) — lined up a SAR 1.11 bn financing agreement with the Agricultural Development Fund (ADF), Nadec said in a filing to Tadawul.The details: The financing has a 15-year tenor, including a three-year grace period. Nadec mortgaged a land it owns in the Wadi Al Dawasir region to back up the loan, in addition to undisclosed guarantees by other partners “proportional to their ownership stakes,” the disclosure read.Where will the money go? The company will use the facility to finance a large-scale livestock project in the city of Ḥaʼil. The project will focus on breeding sheep and goats, as well as meat production.IN CONTEXT- Nadec has been ramping up efforts to localize red meat production. Earlier this month, Nadec inked a 10-year agreement with UK-based Hilton Foods to process and package red meat here at home under a new JV. The company also partnered with United Feed last year to set up a JV for livestock and meat production. IN OTHER DEBT NEWS- Cenomi Centers is set to issue up to SAR 3.75 bn in sukuk after it lined up shareholders’ approval for the move, it said in a disclosure to Tadawul. No further details were disclosed.

CONSTRUCTION- The Public Investment Fund is seeking project management consultancy services for a new business district on the outskirts of Riyadh, including the world’s next tallest tower, Meed reports. The fund is receiving bids from firms looking to fill the position until 20 March 2025.Who is interested? US-based firms Aecom, Bechtel, Jacobs, Parsons, and Turner, as well as the UK’s Mace are among the prospective bidders. The request for proposals was reportedly issued by PIF-subsidiary Tower District Real Estate Development Company, writes Meed. BACKGROUND- British architecture studio Foster + Partners is reportedly working on designs for the skyscraper — which would be twice as tall as the world’s current tallest building, the Burj Khalifa. The PIF-backed project will be built at a site near the capital’s King Khalid International Airport.Part of a bigger push: There are 100 commercial and residential towers worth some SAR 100 bn currently in the final stages of construction in Riyadh, Knight Frank Global executives and experts told Aleqtisadiah. DISPUTE WATCH-The Eastern Province Municipality terminated investment contracts with Smart Cities Solutions (SCS), a Batic Investments and Logistics subsidiary, for the development and operation of parking facilities in Dammam, Dharan, and Khobar, Batic said in a disclosure to Tadawul. The company remains in contact with Saudi authorities while “taking the necessary measures to safeguard its rights and protect the interests of its shareholders,” reads the disclosure.BACKGROUND- The Eastern Province Municipality took over the management and operation of parking facilities back in February with Batic getting ready to take legal action in response. The terminated agreements include long-term contracts held by SCS to develop, construct, and operate parking spaces and facilities at Khobar and Dhahran until 2044, and Dammam until 2045.INFRASTRUCTURE-The second phase of Red Sea International’s (RSI) SAR 658 mn staff camp project at Neom’s Trojena Dam will not move forward, after Italian engineering outfit Webuild SpA — the contractor — decided not to activate the optional SAR 228 mn phase, according to a disclosure to Tadawul. RSI could be entitled to additional compensation when the works are completed, provided certain conditions in the contract are met.FOOD-Nadec + Hilton Foods will create a red meat JV: The National Agricultural Development Company (Nadec) signed a 10-year shareholders’ agreement with UK-based Hilton Foods to establish a joint venture to process and package red meat in Saudi Arabia, according to a disclosure to Tadawul. Nadec will own a 51% stake in the JV, and use its boning and retail packing facility in Haradh to supply the local market. The value of the agreement was not disclosed.ADVERTISING-AlBalad AlAmeen ink SAR 600 mn agreement with Rotana Signs: AlBalad AlAmeen, the financial arm of Makkah Municipality, signed a SAR 600 mn agreement with Riyadh-based advertising agency Rotana Signs to construct, operate, and maintain billboards in Makkah, it said in a post on X last Thursday. No further details were disclosed.DEBT WATCH-Raoom Trading secured a SAR 100 mn shariah-compliant loan from Al Jazira Bank, according to a disclosure to Tadawul. The funding will run throughout 2025 and will be allocated to back the company’s expansion.REMEMBER- The BoD recommended last February doubling the firm’s capital to SAR 125 mn by capitalizing SAR 62.5 mn from retained earnings to strengthen the company’s financial position and future growth.TRADE-The Saudi-Moroccan Joint Committee saw the signing of a mutual recognition agreement for the Authorized Economic Operator (AEO) program, state news agency SPA reports. The Program was launched back in January, granting importers, exporters, and service logistics providers operating access to a benefits suite, including administrative, procedural, and financial perks.TRANSPORT-The Jeddah Transport Company (JTC) launched the first phase of the Maritime Taxi service, according to a post on X. In the initial phase, the service will connect the Jeddah Yacht Club, Jeddah Historic District (Al Balad), and Obhur neighborhood, running from 3:30pm to 1:30am during the month of Ramadan. Tickets range from SAR 25 to 50 for adults, while children under five ride for free. Bookings can be made through the app.

ADES HOLDING- Egypt-born Ades Holding’s net income was up 80.5% y-o-y to SAR 816.2 mn in 2024 on the back of solid EBITDA gains and lower financing costs relative to revenue, it said in an earnings release (pdf). Revenues also rose 43.1% to SAR 6.2 bn over the same period, driven by expansion in offshore activities in Saudi Arabia and new rig deployments in India and Indonesia.(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)Looking ahead: The company is optimistic about industry trends, anticipating higher incomes from active tendering in key regions such as Southeast Asia, the Middle East, and West Africa. Despite “ongoing global economic uncertainties” the firm’s strategic focus is doubling down on “long-term fundamentals, operational agility, and financial discipline” in a bid to capitalize on new prospects, the release said. ALSO- Ades Holding’s BoD is distributing SAR 242.2 mn in interim dividends for 2H 2024 at SAR 0.22 apiece, it said in a disclosure to Tadawul. Distribution is scheduled for Monday, 24 March 2025.Ades’ Saudi operations account for 60% of its revenue in 2024, while global markets accounted for 23%, CEO Mohamed Farouk told Al Arabiya. The company is currently participating in 60 global tenders as it looks to increase its market share in the offshore drilling sector, Farouk added.NADEC-Agri-food giant National Agricultural Development Company (Nadec)’s net income grew 156.5% y-o-y at SAR 774.6 mn in FY2024, it said in an earnings release (pdf). The growth came on the back of SAR 103.2 mn in gains from selling its shares in Arabian Mills IPO and SAR 253.3 mn in fair value gain on its remaining shares, the release said.Meanwhile, revenues inched up 0.7% to SAR 3.2 bn over the same period, driven by sales from the new protein segment, which were partially offset by declines in the dairy, beverages and agriculture segments.YANSAB-Yanbu National Petrochemical Co. (YANSAB) is back in the black with a net income of SAR 420.3 mn in 2024, rebounding from a SAR 485.1 mn loss in 2023, according to an earnings release (pdf). The rebound was fueled by higher production and sales, as well as higher average prices that offset a rise in the prices of production inputs. Meanwhile, revenues were up 36% over the same period at SAR 6.16 bn.Why the uptick? The company’s performance in 2023 was affected by scheduled preventive maintenance from 10 January to 2 March, and temporary shutdowns announced on August 21 and 4 September.LUMI RENTAL-Lumi Rental’s net income grew 12.3% y-o-y to SAR 180.3 mn in FY 2024, despite higher financing costs from rising interest rates and borrowings, it said in an earnings release (pdf). Meanwhile, revenues were up 40.2% at SAR 1.55 bn over the same period due to gains across all business segments.The bottom line nearly doubled in 4Q: Net income rose 93% y-o-y in 4Q 2024 to SAR 49 mn, the release said. Meanwhile, revenues were up 28% y-o-y at SAR 402 mn driven by solid performance across all segments.

SAUDI TADAWUL GROUP- Saudi Tadawul Group Holding’s net income increased 37.2% y-o-y to SAR 140.4 mn in 3Q 2024, according to a disclosure. The increase was primarily due to a 20.6% y-o-y rise in operating revenues at SAR 359.1 mn, which offset a 17.3% increase in operating expenditures at SAR 235.5 mn. The rise in operating revenues came on the back of higher trading and post-trade services activity, greater trading values, and an uptick in revenues from non-trading linked services.9M 2024: The group’s net income rose 69.5% y-o-y to SAR 505.7 mn, while revenues increased 39.1% y-o-y to SAR 1.1 bn.By the numbers: A total of 36 securities were listed across Tadawul’s main and parallel markets during the first nine months of the year, according to the firm’s 3Q investor bulletin (pdf). The new listings include funds, debt instruments, as well as the first companies to make the transfer from Nomu to Tadawul. The average daily traded value across the main and parallel markets reached SAR 8 bn during the period, with total market cap hitting SAR 10.2 bn. There are now 336 companies listed across both Tadawul and Nomu. (** Tap or click the headline above to read this story with all of the links to our background and outside sources.)NADEC-The National Agricultural Development Company (Nadec) reported a 50.6% y-o-y increase in net income to SAR 113.4 mn in 3Q 2024, driven by reduced selling, marketing, and financial expenses, an impairment reversal, and increased treasury income, it said in a disclosure to Tadawul. Meanwhile, revenues dipped 8.1% y-o-y to SAR 791.1 mn as gains from the new protein segment were offset by declining performance in the dairy and food processing segments.On a 9M basis: Nadec’s bottom line grew 83.4% y-o-y to SAR 326.6 mn while its topline saw a 1.8% uptick during the period at SAR 2.4 bn. The gains were mainly driven by revenues from the new protein segment despite being partially offset by declines in dairy, food processing, and agricultural sales.REMEMBER: Nadec held a 14.9% stake in Arabian Mills prior to the company taking a 30% stake to Tadawul in a secondary offering earlier this month. The company raked in SAR 151.1 mn in proceeds from the transaction prior to deducting costs related to the offering, according to our calculations.SIPCHEM-Sahara International Petrochemical Company (Sipchem)’s net income dropped 55.7% y-o-y to SAR 103.2 mn in 3Q 2024, it said in a disclosure to Tadawul. The decline came on the back of higher feedstock and raw material costs, lower sales volumes, and lower gains from JVs and associates. Revenues dropped 9.1% y-o-y to SAR 1.6 bn, mainly due to lower sales volumes, which was partly offset by higher prices for some products. On a 9M basis: Sipchem’s bottom line declined 60% y-o-y to SAR 406.2 mn, driven by lower revenues, rising feedstock, raw material, and distribution costs, and a lower share in gains from investments. Revenue declined 4.6% y-o-y to SAR 5.3 bn due to scheduled maintenance and lower selling costs impacting sales.

LUBEREF-Aramco’s base oil subsidiary Luberef saw its net income fell 46.4% y-o-y to SAR 239 mn in 1Q 2024 on the back of declines in base oil crack margins, according to its earnings release (pdf). Its revenues were up 21.6% y-o-y over the same period to SAR 2.2 bn due to higher by-products prices and volumes.Highlights during the quarter: Luberef’s facility in Yanbu completed its planned hydrocracker catalyst replacement. This will help ensure the delivery for high-quality GII base oils. It also signed a MoU with Jabeen — the investment arm of the Royal Commission for Jubail and Yanbu — and the National Industrial Development Center to identify potential investments at its lubricants value park LubeHub in Yanbu to help boost local demand for base oils.Uh, Enterprise? What are GII base oils? Produced through hydrocracking, group II base oils are purer than oils classified in group I and tend to behave better over a wider range of temperatures. GII oils can be used in lubricants including passenger car engine oils, gear oils, hydraulics, industrial lubricants, and — in some cases — heavy-duty engine oils. The “group” classification is a standard of the American Petroleum Institute. What they said: “Our dedication to enhancing shareholder value remains strong, driven by transformative initiatives. Notably, the HVGO [a key production input] supply agreement broadens our GII base oil portfolio with premium heavy grades, while the Growth II project marks a significant step towards producing premium GIII base oils within the Kingdom by the second half of 2025,” Luberef CEO Samer Al Hokail said.And, uh, GIII? They’re what your filling station markets as “synthetic” lubricants. They’re more complicated to make and are more high-performance than GII oils, with lower emissions footprints. The more sophisticated your vehicle, the more likely you are to want GIII lubricants.SOLUTIONS BY STCArabian Internet and Communications Services saw its net income rise 16.1% y-o-y to SAR 353 mnin 1Q 2023, the tech subsidiary of telecom operator stc said in a disclosure to Tadawul yesterday. Revenues were up 5% y-o-y over the same period to SAR 2.8 bn due to an increase in its core ICT services, IT managed and operational services and digital services.TADAWUL-Saudi Tadawul Group Holding’s net income grew 122% y-o-y to SAR 201.5 mn in 1Q 2024, according to the company’s earnings release (pdf). Revenues were up 72.8% y-o-y to SAR 387.6 mn, with the post-trade segment accounting for SAR 207 mn of revenues, while the capital markets segment accounted for SAR 133.5 mn, and data and tech services accounted for the remainder. SAUDI AWWAL BANK-Saudi Awwal Bank’s net income rose 15.8% y-o-y to SAR 2.0 bn in 1Q 2024 on the back of higher operating income and a lower provision for expected credit losses, it said in a disclosure to Tadawul yesterday. Revenues were up 7.1% over the same period to SAR 3.4 bn. SAUDI INVESTMENT BANK-The Saudi Investment Bank’s net income grew 8.2% y-o-y to SAR 442.4 mn in 1Q 2024, it said in a disclosure to Tadawul yesterday. Revenues were up 3.3% over the same period to SAR 995.1 mn.SAUDI GERMAN HEALTH-Tadawul-listed healthcare provider Saudi German Health’s net income rose 3.6% y-o-y to SAR 51.9 mn in 1Q 2024 due to a growth in the number of inpatients and outpatients and a better utilization of outpatient clinics, it said in a disclosure to Tadawul yesterday. Revenues were up 8% y-o-y over the same period to SAR 689 mn.NADEC-The National Agricultural Development Company reported a 169% y-o-y rise in net income to SAR 101.3 mn in 1Q 2024 on the back of higher returns from bank deposits and profitshare from its joint venture, it said in a disclosure to Tadawul. Revenues increased 14.4% y-o-y to SAR 857.6 mn in 1Q 2024, due to booking more business from the dairy and food processing, and protein segments.TASNEE-National Industrialization recorded a net loss of SAR 72.1 mn in 1Q 2024, compared to net income of SAR 82.1 mn in 1Q 2023, on the back of scheduled maintenance driving down sales volumes coupled with average selling prices falling. Meanwhile, its topline fell 14.3% y-o-y to SAR 761.4, it said in a disclosure to Tadawul.

#1- Sulaiman Al Habib Medical Services’ net income rose 24% y-o-y to SAR 2 bn in 2023, it said in a disclosure to Tadawul yesterday. Revenues rose 14% y-o-y to SAR 9.5 bn in the same time period on the back of growth in the hospital and pharma segments. The healthcare provider’s BoD has proposed a SAR 402.5 mn cash dividend payouts of SAR 1.15 per share for 4Q 2023 to be distributed on Monday, 4 March, it said in a Tadawul disclosure.#2- The National Agricultural Development Company (NADEC)’s net income tripled y-o-y to SAR 302 mn in 2023, it said in a disclosure to Tadawul yesterday. Revenues rose 18.7% y-o-y to SAR 3.2 bn in the same period on the back of growth from the company’s dairy and food processing sector (19%) as well as the agricultural sector (6%). #3- Gulf Ins. Group’s net income increased 8x y-o-y to SAR 128.5 mn in 2023, up from SAR 16 mn, it said in a disclosure to Tadawul yesterday. Revenues rose 5.7% y-o-y to SAR 1.6 bn in the same period on the back of growth from its property, casualty and health sectors.#4- Academy of Learning Company’s net income rose 34.2% y-o-y to SAR 28.7 mn in 2023, it said in a disclosure to Tadawul yesterday. Revenues rose 48% y-o-y to SAR 93 mn over the same period on the back of opening new branches.The company’s BoD has proposed SAR 9 mn cash dividend payouts of SAR 0.15 per share for 2H 2023, it said in a separate disclosure to Tadawul. The distribution will take place on Thursday, 4 April.