ZAWYA: SAL delivers revenue of SAR 446mln (+16%) in Q1 2026 as disciplined platform execution bolsters performance

About this update from Sal Saudi Logistics Services Company

Jeddah, Saudi Arabia: SAL Saudi Logistics Services Company (“SAL” or “the Company”) (Ticker: TADAWUL 4263), the Kingdom’s leading air cargo handling and logistics solutions provider, today announced its financial results for the first quarter, period ended 31 March 2026.1st Quarter 2026 HighlightsSAL delivered topline growth and high-quality earnings, with strong cash generation and disciplined execution, showing strong resilience against a backdrop of temporary geopolitical-related airspace restrictions and events disruption during the quarter.SAL has taken a significant step toward international expansion by signing a Sale and Purchase Agreement to acquire Aviapartner Liège SA, for approximately^123 million. The acquisition will give SAL an international footprint and establish a full operational presence at Liege Airport in Belgium, a key European cargo hub.The Ground Handling Division, the core engine of the business, maintained its competitive edge, recording revenue growth driven by sustained yield strength, with operational agility to address the volume disruption and supporting service continuity.The Logistics Division continued delivering on its strategy and attracting new customers, with performance improving sequentially, losses narrowing, and activity picking up towards quarter-end, particularly across road freight and warehousing.Capital Deployment Program is in its implementation phase, accelerating SAL’s strategic growth priorities with investments in ground handling capacity, logistics hubs, and fleet capabilities, while advancing SAL Zones development to unlock the next phase of growth.Omar bin Talal HaririChief Executive Officer of SAL, commented:“SAL delivered a resilient performance in the first quarter, with solid revenue growth, higher revenue quality, and strong cash conversion, reflecting our disciplined execution. The quarter demonstrated our operational excellence, maintaining a strong performance while mitigating the impacts from the regional disruptions to airspace and maritime routes in March. In response, we prioritized maintaining service continuity for our customers, protecting the quality of our revenue, and adapting our network to sustain cargo flows.Ground Handling continued to anchor our performance, supported by its competitive edge and sustained yield strength. During this period, we also initiated the process for the...

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