JEDDAH: Saudi Industrial Services Company (SISCO), a strategic investor in the Kingdom’s ports and terminals, on Sunday reported that revenue in Q1 2021 rose 51.6 percent year-on-year (YoY) to SR253.6 million ($67.63 million), while net income grew 21.4 percent to SR32.3 million over the same period.
Revenue from the ports and terminals segment increased by 70.8 percent YoY in the first three months of 2021 to reach SR211.5 million, while the logistics division saw revenue rise 24.4 percent to SR24 million.
The surge in revenue for the ports and terminals business was due to increased efficiencies, but also as a result of the 65.7 percent rise in container volumes compared with Q1 2020.
The logistics, ports and services division of the business also saw strong growth, with warehousing occupancy rates averaging at around 99 percent for the quarter, with plans to develop further facilities to cater to demand, especially for new contracts signed in 2020, including those with energy giant Aramco.
“SISCO continues to achieve very strong results despite operating in a challenging macro-economic environment,” SISCO CEO Mohammed Al-Mudarres said in a statement.
He added: “In the first quarter, the Group achieved significant top-line growth in the ports and logistics business, driven by improved gateway and transshipment volumes and growth in our warehouse and logistics services offer. With new customers for the logistics business now onboarded we are seeing strong growth in demand for services.”
The company also said it is looking at potential investment opportunities in order to maintain its healthy revenue growth.
Ferry impressive: Saudi ports, warehouse operator enjoys strong Q1 growth
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Ferry impressive: Saudi ports, warehouse operator enjoys strong Q1 growth
- The logistics, ports and services division of the business also saw strong growth
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
