2025
Annual Report
2025 marked a defining year in the evolution of GAS Arabian Services Company. It was a year in which the Company delivered disciplined growth, strengthened its operating and financial foundations, and successfully transitioned to the Saudi Exchange Main Market (TASI)—a milestone that reflects the scale, maturity, and governance standards GAS has achieved over more than three decades of operations.
Against a backdrop of continued investment in Saudi Arabia’s energy, gas, and industrial infrastructure, GAS demonstrated its ability to convert market opportunity into tangible outcomes. We expanded our backlog, progressed major EPC and pipeline projects linked to new independent power and gas initiatives, and continued to deepen our role within the Kingdom’s national gas network. These achievements were underpinned by operational discipline, strong customer relationships, and a clear strategic focus.
The Saudi energy sector continues to evolve, with a growing emphasis on gas, infrastructure reliability, localization, and lifecycle asset support. GAS is well positioned within this landscape. Our integrated operating model spanning Technical Services, Trading, and Manufacturing allows us to serve customers across the full project and asset lifecycle, from EPC and field services to in-Kingdom fabrication, calibration, and aftermarket support.
During the year, we continued to secure and execute complex assignments across oil and gas, petrochemicals, power, water and desalination, cement, steel, and mining. Our ability to combine global OEM technologies with local engineering and manufacturing capabilities remains a key differentiator, enabling customers to enhance asset reliability, reduce downtime, and meet localization objectives.
Execution quality remains central to our value proposition. GAS maintained high standards across project delivery, safety, and operational controls. Our activities are anchored in certified management systems, a robust health, safety, and environmental culture, and increasing attention to cybersecurity and operational resilience.
Dedicated site teams, responsive service workshops, and disciplined project governance continue to support consistent delivery across a growing portfolio of projects and services. These capabilities are critical in the sectors we serve, where reliability and safety are non-negotiable and long-term trust underpins customer relationships.
Localization is not an obligation for GAS; it is a strategic advantage. We continued to invest in Saudi talent development, building technical and leadership capabilities through internal training pipelines and our expanding joint-venture ecosystem. These partnerships with leading global technology providers enable knowledge transfer, local manufacturing, and long-term service capability development within the Kingdom.
Our people remain the foundation of our success. As our operations expanded, we grew our workforce in line with project demand while maintaining a strong focus on safety, capability development, and ethical conduct. This commitment supports sustainable growth and ensures GAS is prepared to meet the increasing complexity of customer requirements.
GAS’s financial performance in 2025 reflected disciplined execution and prudent capital management. We continued to focus on earnings quality, cash generation, and balance-sheet strength, enabling the Company to support growth while maintaining financial flexibility. The declaration of an interim dividend during the year underscores the Board’s commitment to balanced capital allocation and shareholder returns.
The successful transfer to the Main Market (TASI) represents an important milestone for GAS and its shareholders. It enhances the Company’s visibility, broadens its investor base, and reinforces our commitment to transparency, governance, and long-term value creation.
Strong governance underpins sustainable performance. The Board remains actively engaged in overseeing strategy, risk management, and stakeholder engagement ensuring that GAS continues to operate in line with regulatory requirements and best practices expected of a Main Market listed company. We are committed to maintaining clear accountability, effective oversight, and transparent communication with all stakeholders.
As we look forward, the Board remains confident in GAS’s strategic direction. With a growing backlog, deepening customer relationships, expanded domestic capabilities, and a conservative balance sheet, GAS is well positioned to continue delivering dependable outcomes for customers and sustainable value for shareholders.
On behalf of the Board, I would like to thank our shareholders for their continued trust, our customers and partners for their confidence, and our employees for their dedication and professionalism. Together, we will continue to build GAS Arabian Services as a trusted, accountable, in-Kingdom partner supporting the Kingdom’s energy and industrial ambitions.
