To our valued Partners and Stakeholders,
On behalf of the Board of Directors, I am delighted to present SAL’s inaugural Integrated Annual Report. This landmark year has been marked by notable achievements and strategic progress, as we successfully navigated a dynamic environment, leveraging our strengths to position SAL for sustained growth, innovation, and excellence. Our 2024 journey underscores our commitment to Saudi Vision 2030, with SAL emerging as a vital player in transforming the Kingdom into a global logistics hub.
Net profit 30%
to SAR 661 million
This year, the Board of Directors has been actively engaged in overseeing the Company’s strategy, risk management, and corporate governance. We have conducted a thorough review of company policies, enhanced risk management frameworks, and ensured alignment with our strategic objectives. Our governance framework is founded on the principles of transparency, accountability, and a steadfast commitment to sustainable growth.
In 2024, we made strategic decisions that drove growth, innovation, and sustainability. Key partnerships, expansions, and significant efforts towards Environmental, Social, and Governance (ESG) initiatives have positioned us for long-term success. We renegotiated agreements with major airports and expanded our presence in key regions, enhancing our competitiveness and driving shareholder value.
Our financial performance was outstanding, with record revenue exceeding SAR 1.6 billion, a 12% increase from the previous year. Net profit rose by 30% to SAR 661 million, while our operating income margin expanded to 43.4%, up from 40.3% last year, demonstrating sustained profitability growth.
I am pleased to welcome Omar Talal Hariri, who joined us as CEO in November 2024, bringing a wealth of experience in the logistics sector. I would also like to take this opportunity to express my heartfelt gratitude to Faisal Albedah for his exceptional leadership and tireless dedication during his tenure as CEO. Over nearly three years, Faisal made invaluable contributions to our organization, and we are deeply grateful for his commitment, expertise, and hard work.
We extend our deepest gratitude to our dedicated employees, valued customers, and supportive investors for their unwavering engagement and trust. We also appreciate the exceptional collaboration from our strategic partners, Executive Leadership Team, and Board of Directors.
Our sincere appreciation goes to His Excellency Engineer Saleh Al-Jasser, Minister of Transport and Logistics, and his ministry for their invaluable guidance and steadfast support.
As we align with Saudi Arabia’s Vision 2030, we reaffirm our commitment to our role as the National Logistics Champion, driving economic growth and development. With collective strength and shared vision, we are confident in our leadership and the Company’s promising future, poised for sustained growth and remarkable achievements.
Fawaz Mohammed Fawaz AlFawaz
Chairman
29 March 2025