Riyadh, Saudi Arabia — The Saudi Public Transport Company (SAPTCO) posted a net profit of SAR 20.44 million in H1 2025, reversing a SAR 7.01 million loss a year earlier. The turnaround was driven by higher public transport and Hajj revenues, improved joint venture income, and lower impairment expenses.

Seasonal and JV Gains Drive Q2 Upswing

Revenue grew 16.2% year-on-year to SAR 844.43 million. Gross profit rose 8.9% to SAR 114.05 million, and operating profit reached SAR 50.9 million, up 9.9%.

In Q2 2025, revenue surged 47.4% from Q1 and 20.3% from a year earlier to SAR 503.10 million. Net profit for the quarter hit SAR 40.51 million—nearly matching the SAR 41.62 million recorded in Q2 2024. This marks a strong recovery from the Q1 loss of SAR 20.07 million.

Gross profit more than doubled from the previous quarter, reaching SAR 77.83 million. Operational profit for Q2 stood at SAR 56.9 million.

Key drivers included:

  • Increased volumes in public transport and Hajj services
  • A return to profitability from joint ventures and associates
  • Reduced impairment charges and tighter control of selling and administrative costs

These factors helped offset zakat expenses, higher operating costs, and reduced finance income.

What This Means for Investors

  • Turnaround achieved: Revenue growth in core segments reversed last year’s loss.
  • JV income rebound: Profitable associate contributions supported margin recovery.
  • Cost control in focus: Lower impairments and SG&A efficiencies improved profitability.
  • Capital base strengthened: Q2 earnings helped reduce accumulated losses.

 

 

THE SAUDI STANDARD’S VIEW: SAPTCO’s Profit Return Underscores Strength of Public Transit Revival

The SAPTCO H1 2025 profit of SAR 20.4 million signals more than a return to black—it shows the momentum of Saudi Arabia’s recovering public transport network. The 16% revenue growth demonstrates rising demand for mobility services, especially during the Hajj season.

Q2’s 47.4% revenue surge from Q1 highlights SAPTCO’s strong seasonal performance and its ability to capitalize on pilgrimage-driven transport demand. Leaner operations and JV profitability supported the net profit rebound, showcasing financial discipline amid rising costs.

SAPTCO also made progress in restoring balance sheet strength. The company reduced its accumulated losses to 25.4% of capital from 28.2%, reflecting prudent capital management in line with Tadawul’s corporate reform agenda.

Despite cost headwinds, SAPTCO’s performance supports Vision 2030’s push for sustainable, connected urban transport. As Saudi Arabia invests in smart cities and integrated transit, SAPTCO’s role as a public mobility leader becomes more vital.

The SAPTCO H1 2025 profit signals a new phase of stability for the company, anchored in operational reforms, rising passenger volumes, and national transport priorities.

 

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