BAHRI REPORTS FOURTH QUARTER & FULL YEAR 2024 RESULTS WITH RECORD REVENUE AND NET PROFIT

BAHRI REPORTS FOURTH QUARTER & FULL YEAR 2024 RESULTS WITH RECORD REVENUE AND NET PROFIT. Bahri Bahrain Iran Iraq Jordan Kuwait Lebanon Oman Palestine Qatar Saudi Arabia Syria United Arab Emirates Yemen Algeria Egypt Libya Morocco Sudan Tunisia Western Sahara

Bahri surpasses SAR 2 billion annual net profit for the first time. Historic 2024 net profit of SAR 2.17 billion (+34% YoY) and record revenue of SAR 9.48 billion, (+8% YoY).Q4 2024 net profit of SAR 474 million (+18% YoY), reflecting sustained revenue growth and enhanced cost efficiencies propelled by favorable freight rates overall, fleet expansion and modernization, and effective voyage planning.Fleet expansion and modernization accelerated in 2024 with 11 vessels joining the owned fleet – five net additions and six replacements of older vessels – while long-term chartered vessels increased to 16 from 10, expanding operated fleet to 109 vessels.Net debt-to-EBITDA of 1.68x, supported by increased profitability and a resilient balance sheet.View original content:https://www.prnewswire.co.uk/news-releases/bahri-reports-fourth-quarter--full-year-2024-results-with-record-revenue-and-net-profit-302365888.html