| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,090,785,932 | 1,968,581,611 | 6.207 | 2,144,262,652 | -2.493 |
| Gross Profit (Loss) | 372,435,040 | 384,725,314 | -3.194 | 451,474,750 | -17.507 |
| Operational Profit (Loss) | 259,320,208 | 240,714,322 | 7.729 | -684,474,002 | - |
| Net profit (Loss) | 120,216,550 | 104,614,015 | 14.914 | -862,505,163 | - |
| Total Comprehensive Income | 120,216,550 | 104,614,015 | 14.914 | -862,505,163 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 6,063,142,991 | 5,891,308,904 | 2.916 |
| Gross Profit (Loss) | 1,238,430,563 | 1,198,372,769 | 3.342 |
| Operational Profit (Loss) | -131,401,971 | 955,297,594 | - |
| Net profit (Loss) | -594,430,019 | 492,627,191 | - |
| Total Comprehensive Income | -594,430,019 | 492,627,191 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 3,496,587,526 | 1,643,036,259 | 112.812 |
| Profit (Loss) per Share | -3.69 | 3.21 | |
| 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 | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue for the third quarter totaled SAR 2.1 billion, representing a 6.2% year-on-year increase. This growth was primarily driven by expanded capacity in the core low-cost carrier (LCC) segment and strong seasonal travel demand. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Company reported a net profit of SAR 120.2 million for Q3 2025, compared to SAR 104.6 million in Q3 2024. Excluding one-off gains from sale and leaseback (SLB) transactions of SAR 29.5 million in Q3 2025 and SAR 21.3 million in Q3 2024 and a gain on lease termination of SAR 3.8 million in Q3 2025 (Q3 2024: nil), the adjusted net profit stood at SAR 86.9 million, versus SAR 83.3 million in the prior-year quarter. This 4.3% year-on-year increase in adjusted net profit reflects improved operating leverage, disciplined cost management, ongoing capacity expansion, and continued strength in passenger demand. Please refer to the ‘Additional Information’ tab below for further details regarding non-recurring items." |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue for the third quarter as compared to second quarter decreased by 2.5% primarily due to the seasonal shift of Hajj operations within the Flynas Hajj & Umrah segment, which were largely concentrated in the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company reported a net profit of SAR 120.2 million in Q3 2025, compared to a net loss of SAR 862.5 million in Q2 2025. After excluding gains from sale and leaseback (SLB) transactions of SAR 29.5 million in Q3 and SAR 29.7 million in Q2 and a gain on lease termination of SAR 3.8 million in Q3 2025 (Q2: nil), as well as non-recurring IPO-related expenses in Q2 totaling SAR 1.083 billion (comprising a one-time employee share-based payment charge of SAR 981.9 million and IPO-related fees of SAR 101.0 million), the adjusted net profit stood at SAR 86.9 million in Q3 2025, compared to SAR 190.7 million in Q2 2025. The quarter-on-quarter decline in adjusted net profit primarily reflects the seasonal nature of the business, particularly the concentration of Hajj operations in the second quarter. Please refer to the ‘Additional Information’ tab below for further details regarding non-recurring items. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue for the nine-months period ended 30 September 2025, the revenue rose by 2.9% to SAR 6.1 billion. The growth was supported by expanded capacity in the core low-cost carrier (LCC) segment and strong seasonal travel demand. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The Company reported a net loss of SAR 594.4 million for the nine-month period ended 30 September 2025, compared to a net profit of SAR 492.6 million for the same period in 2024. After adjusting for gains from sale and leaseback (SLB) transactions of SAR 59.1 million in 2025 versus SAR 130.7 million in 2024 and a gain on lease termination of SAR 3.8 million in 2025, as well as excluding non-recurring IPO-related expenses totaling SAR 1.083 billion (comprising a one-time employee share-based payment charge of SAR 981.9 million and IPO fees of SAR 101.0 million), the Company recorded an adjusted net profit of SAR 425.6 million for the nine-month period ended 30 September 2025, compared to SAR 361.9 million in the prior-year period. The year-on-year increase in adjusted profit was primarily driven by continued fleet growth, network expansion, cost optimization initiatives, and sustained investments in operational systems and digital tools aimed at improving scalability and enhancing the customer experience. Please refer to the ‘Additional Information’ tab below for further details regarding non-recurring items. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | NA |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the current year’s presentation to these condensed interim financial statements. |
| Additional Information | The Company would like to mention the following: To provide a clearer view of its underlying operational performance, the Company presents adjusted financial metrics that exclude non-recurring and non-operational items not directly related to the regular course of business in a given reporting period. These adjustments offer a more comparable reflection of the Company’s performance. Adjustments for the period are as follows: 1. Non-recurring IPO-related expenses: Following its public listing, the Company incurred non-recurring IPO-related expenses totaling SAR 1.083 billion during the nine-month period ended 30 September 2025. This includes a one-time charge of SAR 981.9 million related to the Employees Share-Based Payment Program and IPO fees of SAR 101.0 million. 2. Sale and Leaseback (SLB) gains and gains on termination of lease: SLB gains and gains on lease termination are inherently variable, as they depend on the number of aircraft financed through such transactions and prevailing market conditions at the time of execution. In Q3 2025, the Company recognized SLB-related gains of SAR 29.5 million, compared to SAR 21.3 million in Q3 2024, along with a gain on lease termination of SAR 3.8 million (Q3 2024: nil). For the nine-month period ended 30 September 2025, total SLB-related gains amounted to SAR 59.1 million, compared to SAR 130.7 million in the same period of 2024. Additionally, a gain on lease termination of SAR 3.8 million was recorded in 2025 (2024: nil). Key adjusted results: • Q3 2025: - Adjusted EBITDA: SAR 616.8 million (Q3 2024: SAR 504.5 million) – a 21.3% year-on-year increase - Adjusted Net Profit: SAR 86.9 million (Q3 2024: SAR 83.3 million) – a 4.3% year-on-year increase. • Nine-Month Period Ended 30 September 2025: - Adjusted EBITDA: SAR 1,968.9 million (9M 2024: SAR 1,649.3 million) – a 19.4% year-on-year increase - Adjusted Net Profit: SAR 425.6 million (9M 2024: SAR 361.9 million) – a 17.6% year-on-year increase. Please refer to the attached Earnings Release for further details. Flynas will be hosting an Earnings Call on Monday the 10th of November 2025 at 3:00p.m. KSA Time to present its Q3 2025 financial results. |
| Attached Documents | Attached Documents |
