Flynas Reports SAR 117.90M Net Profit in Three Months 2026
FLYNAS 4264.SA | 0.00 |
On 2026-05-11 08:22:12 (Saudi Time), Flynas Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,005,545,356 | 1,828,094,407 | 9.706 | 1,781,164,542 | 12.597 |
| Gross Profit (Loss) | 347,260,738 | 414,520,774 | -16.225 | 244,714,635 | 41.904 |
| Operational Profit (Loss) | 220,035,125 | 293,751,824 | -25.094 | 104,350,469 | 110.861 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 117,901,381 | 147,858,594 | -20.26 | 67,430,408 | 74.848 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 138,527,664 | 147,858,594 | -6.31 | 53,178,340 | 160.496 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 3,681,411,656 | 1,790,904,853 | 105.561 |
| Profit (Loss) per Share | 0.69 | 1.02 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 9.706% YoY to SAR 2,005.55 million, driven by flynas LCC revenue growth of 10.4% from capacity expansion and continued passenger demand, plus General Aviation revenue growth of 4.7% to SAR 45 million. Net profit declined 20.26% YoY to SAR 117.90 million despite higher revenues, primarily due to increased fuel costs, handling and navigation charges, maintenance costs from higher operating activity, additional wet-lease costs, and lower unit revenues from capacity expansion and operational disruption. The profit decline was partially offset by gains from the fuel hedging programme and lower net finance costs.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 12.60% to SAR 2,005.55 million driven by capacity expansion and continued passenger demand in the LCC segment. Net profit surged 74.85% to SAR 117.90 million, primarily supported by SAR 31 million gains on fuel hedging derivatives due to rising fuel prices from geopolitical conflicts. The improvement was further boosted by a 47.2% reduction in selling, general and administrative expenses compared to the previous quarter.
Other Items
The external auditor issued an unmodified conclusion with no additional comments in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders equity increased significantly by 105.561% to SAR 3,681,411,656 compared to SAR 1,790,904,853 in the same period last year. Earnings per share decreased to SAR 0.69 from SAR 1.02 in the prior year period. EBITDA declined 10.0% year-on-year to SAR 557 million with EBITDA margin contracting by 6.0 percentage points to 27.8%, primarily driven by softer unit revenues reflecting capacity expansion and operational disruption during the first quarter.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95222&anCat=1&cs=4264&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/27274_7606_2026-05-11_00-08-36_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.