Upcoming Dividend • Mar 09
Upcoming dividend of ر.ع0.015 per share Eligible shareholders must have bought the stock before 16 March 2026. Payment date: 26 March 2026. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Omani dividend payers (6.0%). Higher than average of industry peers (2.8%). Reported Earnings • Feb 23
Full year 2025 earnings released: EPS: ر.ع0.041 (vs ر.ع0.013 in FY 2024) Full year 2025 results: EPS: ر.ع0.041 (up from ر.ع0.013 in FY 2024). Revenue: ر.ع89.4m (up 28% from FY 2024). Net income: ر.ع7.29m (up 223% from FY 2024). Profit margin: 8.2% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Feb 22
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.0% average weekly change). Earnings have declined by 21% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 22
Salalah Port Services Company SAOG Announces Resignation of Bart van de Graaf as Chief Financial Officer, Effective June 1, 2026 Salalah Port Services Company SAOG announced the resignation of Mr. Bart van de Graaf, the Chief Financial Officer, for personal reasons, with effect from June 1, 2026. Declared Dividend • Feb 21
Dividend increased to ر.ع0.015 Dividend of ر.ع0.015 is 50% higher than last year. Ex-date: 16th March 2026 Payment date: 26th March 2026 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Payout Ratios Payout ratio: 37%. Cash payout ratio: 17%. Announcement • Feb 20
Salalah Port Services Company SAOG announces Annual dividend, payable on March 26, 2026 Salalah Port Services Company SAOG announced Annual dividend of OMR 0.0150 per share payable on March 26, 2026, ex-date on March 16, 2026 and record date on March 15, 2026. Announcement • Feb 19
Salalah Port Services Company SAOG, Annual General Meeting, Mar 15, 2026 Salalah Port Services Company SAOG, Annual General Meeting, Mar 15, 2026. Reported Earnings • Jan 15
Full year 2025 earnings released: EPS: ر.ع0.041 (vs ر.ع0.013 in FY 2024) Full year 2025 results: EPS: ر.ع0.041 (up from ر.ع0.013 in FY 2024). Revenue: ر.ع91.3m (up 31% from FY 2024). Net income: ر.ع7.29m (up 223% from FY 2024). Profit margin: 8.0% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • May 28
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Hamdan Al Farsi was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 07
Salalah Port Services Company SAOG to Report Q3, 2025 Results on May 06, 2025 Salalah Port Services Company SAOG announced that they will report Q3, 2025 results on May 06, 2025 New Risk • Apr 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.0% Last year net profit margin: 3.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Apr 17
First quarter 2025 earnings released: EPS: ر.ع0 (vs ر.ع0.005 in 1Q 2024) First quarter 2025 results: EPS: ر.ع0 (down from ر.ع0.005 in 1Q 2024). Revenue: ر.ع18.9m (up 5.5% from 1Q 2024). Net income: ر.ع24.0k (down 97% from 1Q 2024). Profit margin: 0.1% (down from 4.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 25% per year. Board Change • Apr 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Hmadan Al Farsi was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 4.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (4.7% average weekly change). Declared Dividend • Mar 06
Dividend of ر.ع0.01 announced Dividend of ر.ع0.01 is the same as last year. Ex-date: 23rd March 2025 Payment date: 1st January 1970 Dividend yield will be 4.0%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is less than the 17% EPS decline seen over the last 5 years. Announcement • Feb 20
Salalah Port Services Company SAOG announces Annual dividend Salalah Port Services Company SAOG announced Annual dividend of OMR 0.0100 per share, ex-date on March 23, 2025 and record date on March 20, 2025. Announcement • Feb 19
Salalah Port Services Company SAOG, Annual General Meeting, Mar 20, 2025 Salalah Port Services Company SAOG, Annual General Meeting, Mar 20, 2025. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: ر.ع0.003 (vs ر.ع0.004 in 3Q 2023) Third quarter 2024 results: EPS: ر.ع0.003 (down from ر.ع0.004 in 3Q 2023). Revenue: ر.ع17.4m (up 8.6% from 3Q 2023). Net income: ر.ع573.0k (down 26% from 3Q 2023). Profit margin: 3.3% (down from 4.8% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 24% per year. New Risk • Oct 24
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Reported Earnings • Oct 16
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ر.ع17.4m (up 8.6% from 3Q 2023). Net income: ر.ع573.0k (down 26% from 3Q 2023). Profit margin: 3.3% (down from 4.8% in 3Q 2023). Announcement • Aug 21
Salalah Port Services Company SAOG Announces Chief Executive Officer Changes The Board of Directors of Salalah Port Services Company SAOG decided in its meeting held on 19th August 2024 to accept the resignation of the Chief Executive Officer of the Company, Mr. Keld Mosgaard Christensen, presented for personal reasons, with last working day to be on 31st August 2024. Additionally, for adequate consistency the Board assigned Mr. Bart Van De Graaf, the Chief Financial Officer of the Company, to carry out the duties of the CEO effective from 19th August 2024 till a new CEO is appointed. Reported Earnings • Jul 17
Second quarter 2024 earnings released: EPS: ر.ع0.004 (vs ر.ع0.007 in 2Q 2023) Second quarter 2024 results: EPS: ر.ع0.004 (down from ر.ع0.007 in 2Q 2023). Revenue: ر.ع17.1m (down 4.4% from 2Q 2023). Net income: ر.ع724.0k (down 39% from 2Q 2023). Profit margin: 4.2% (down from 6.7% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 18
First quarter 2024 earnings released: EPS: ر.ع0.005 (vs ر.ع0.007 in 1Q 2023) First quarter 2024 results: EPS: ر.ع0.005 (down from ر.ع0.007 in 1Q 2023). Revenue: ر.ع18.4m (up 2.8% from 1Q 2023). Net income: ر.ع846.0k (down 28% from 1Q 2023). Profit margin: 4.6% (down from 6.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 25
Dividend of ر.ع0.01 announced Dividend of ر.ع0.01 is the same as last year. Ex-date: 24th March 2024 Payment date: 1st January 1970 Dividend yield will be 2.9%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 52% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Announcement • Feb 22
Salalah Port Services Company SAOG, Annual General Meeting, Mar 21, 2024 Salalah Port Services Company SAOG, Annual General Meeting, Mar 21, 2024. Announcement • Feb 21
Salalah Port Services Company SAOG Proposes Cash Dividend The Board of Directors of Salalah Port Services Company SAOG held its meeting on 20th February 2024 and proposed a cash dividend distribution of 10 baiza per share to the Shareholders whose names appear on the register of shareholders as on the date of the Annual General Meeting to be held on 21st March 2024 (subject to the approval of the Shareholders). Reported Earnings • Jan 16
Full year 2023 earnings released: EPS: ر.ع0.016 (vs ر.ع0.018 in FY 2022) Full year 2023 results: EPS: ر.ع0.016 (down from ر.ع0.018 in FY 2022). Revenue: ر.ع70.5m (flat on FY 2022). Net income: ر.ع2.80m (down 13% from FY 2022). Profit margin: 4.0% (down from 4.5% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ر.ع0.004 (vs ر.ع0.004 in 3Q 2022) Third quarter 2023 results: EPS: ر.ع0.004 (in line with 3Q 2022). Revenue: ر.ع16.0m (down 10.0% from 3Q 2022). Net income: ر.ع774.6k (up 5.4% from 3Q 2022). Profit margin: 4.8% (up from 4.1% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: ر.ع0.01 (vs ر.ع0.005 in 1Q 2022) First quarter 2023 results: EPS: ر.ع0.01 (up from ر.ع0.005 in 1Q 2022). Revenue: ر.ع17.9m (up 3.9% from 1Q 2022). Net income: ر.ع1.17m (up 29% from 1Q 2022). Profit margin: 6.5% (up from 5.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: ر.ع0.018 (vs ر.ع0.026 in FY 2021) Full year 2022 results: EPS: ر.ع0.018 (down from ر.ع0.026 in FY 2021). Revenue: ر.ع70.9m (up 6.3% from FY 2021). Net income: ر.ع3.22m (down 31% from FY 2021). Profit margin: 4.5% (down from 7.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 16
Full year 2022 earnings released: EPS: ر.ع0.018 (vs ر.ع0.026 in FY 2021) Full year 2022 results: EPS: ر.ع0.018 (down from ر.ع0.026 in FY 2021). Revenue: ر.ع72.6m (up 8.9% from FY 2021). Net income: ر.ع3.22m (down 31% from FY 2021). Profit margin: 4.4% (down from 7.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Dec 24
Salalah Port Services Company Appoints Lars Mikael Jensen as Temporary Director and as A Member of the Audit Committee and Tariff and Nomination & Remuneration Committee Salalah Port Services Company SAOG appointed Mr. Lars Mikael Jensen, as a temporary director to the Board of Directors of the Company to replace Mr. Jens Rolf Nielsen effective from 21st December 2022. Lars Mikael Jensen has over 40 years of experience in ocean container shipping with A.P. Moller- Maersk. He became Head of Hubs and Collaboration at APM Terminals in July 2022, having previously served as Head of Maersk East-West Ocean Network and Market for 2 years. Prior to that, Lars held various senior role at Maersk, including Head of the Global Ocean Network team and Head of Transpacific and Transatlantic trades. the company also appointed Mr. Lars Mikael Jensen as a member of the Audit Committee and Tariff and Nomination & Remuneration Committee. Announcement • Dec 20
Salalah Port Services Company Saog Announces Resignation of Jens Rolf Nielsen from the Board of Directors Salalah Port Services Co. SAOG (the Company) would like to update the Capital Market Authority, Muscat Stock Exchange and the shareholders that the member of the board of directors of the Company, Mr. Jens Rolf Nielsen, has resigned from the board of directors of the Company with immediate effect for Personal Reasons. Announcement • Oct 17
Salalah Port Services Company SAOG, Annual General Meeting, Nov 02, 2022 Salalah Port Services Company SAOG, Annual General Meeting, Nov 02, 2022, at 11:00 Coordinated Universal Time. Agenda: To consider and approve entering into a related party transaction with APM Terminals BV (APMT) in relation to lease to the Company of ten ULCV Capable Cranes and other supporting equipment (Equipment) to allow the Company to service Ultra Large Container vessels (ULCV) within the current term of the concession on the terms summarized in Appendix 1; To consider and approve entering into a related party transaction with Maersk AS (Maersk) in relation to a volume commitment on terms which are summarized in Appendix 1; and to authorise the Board to negotiate, undertake all acts that are necessary or desirable in connection with and to execute final form legally binding agreements reflecting the transactions above as outlined in agenda items 1-2 and any other related document and to delegate such authority to the management of the Company. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: ر.ع0.005 (vs ر.ع0.005 in 2Q 2021) Second quarter 2022 results: EPS: ر.ع0.005 (vs ر.ع0.005 in 2Q 2021). Revenue: ر.ع17.9m (up 8.3% from 2Q 2021). Net income: ر.ع510.0k (down 48% from 2Q 2021). Profit margin: 2.9% (down from 6.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 21
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ر.ع0.026 (down from ر.ع0.082 in FY 2020). Revenue: ر.ع66.7m (up 1.7% from FY 2020). Net income: ر.ع4.64m (down 69% from FY 2020). Profit margin: 7.0% (down from 23% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.0%. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat. Announcement • Feb 17
Salalah Port Services Company SAOG, Annual General Meeting, Mar 14, 2022 Salalah Port Services Company SAOG, Annual General Meeting, Mar 14, 2022. Announcement • Feb 16
Salalah Port Services Company Proposes Cash Dividend for 2021 Salalah Port Services Company SAOG at the board of directors meeting on February 14, 2022 and proposed cash dividend of 10 baiza per share to the shareholders whose names appear on the register of shareholders as the date of AGM to be held on 14th March 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS ر.ع0.008 (vs ر.ع0.009 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ر.ع16.5m (up 7.0% from 3Q 2020). Net income: ر.ع1.37m (down 18% from 3Q 2020). Profit margin: 8.3% (down from 11% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ر.ع0.012 (vs ر.ع0.005 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ر.ع16.5m (up 12% from 2Q 2020). Net income: ر.ع988.0k (up 18% from 2Q 2020). Profit margin: 6.0% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Apr 16
First quarter 2021 earnings released: EPS ر.ع0.009 (vs ر.ع0.057 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ر.ع16.4m (down 3.7% from 1Q 2020). Net income: ر.ع1.63m (down 84% from 1Q 2020). Profit margin: 9.9% (down from 60% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 19
Salalah Port Services Co. Announces Board Changes Salalah Port Services Co. announced the appointment of Ms. Eman Al Shahry as Secretary to the Board of the company with effect from 01st April, 2021 and shall replace Mr. Ashwani Jhamb (Present Secretary to the Board) who is demitting his position on completion of his assignment. Announcement • Mar 18
Salalah Port Services Company SAOG Announces Board Appointments Salalah Port Services Company SAOG at the board of directors meeting held on March 17, 2021, approved the election of Sheikh Braik Musallam Al Amri as the Chairman of the Board; Mr. Ahmed Al Busaidi elected as the Deputy Chairman of the Board. Board resolved the formation of the sub-committees with the following members: Audit Committee: election of Mr. Ahmed Al Busaidi as chairman of audit committee, Mr. Jens Rolf Nielsen and Mr. Marco Neelsen as member of audit committee. Tariff and Nomination & Remuneration committee: election of Mr. Jens Rolf Nielsen as chairman of Tariff and Nomination & Remuneration committee, Mr. Soren Sjostrand Jakobsen, Mr. David Michael Guy and Mr. Ahmed Ali Issa Akaak as member of Tariff and Nomination & Remuneration committee. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS ر.ع0.082 (vs ر.ع0.032 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.ع65.6m (up 1.4% from FY 2019). Net income: ر.ع14.8m (up 161% from FY 2019). Profit margin: 23% (up from 8.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Feb 16
Salalah Port Services Company SAOG, Annual General Meeting, Mar 17, 2021 Salalah Port Services Company SAOG, Annual General Meeting, Mar 17, 2021. Agenda: To approve the audited Financial Statements for the year ended December 31, 2020. Reported Earnings • Jan 19
Full year 2020 earnings released: EPS ر.ع0.081 The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ر.ع65.3m (flat on FY 2019). Net income: ر.ع14.6m (up 158% from FY 2019). Profit margin: 22% (up from 8.8% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS ر.ع0.009 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ر.ع15.5m (up 4.4% from 3Q 2019). Net income: ر.ع1.67m (up 39% from 3Q 2019). Profit margin: 11% (up from 8.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Oct 16
Third quarter earnings released Over the last 12 months the company has reported total profits of ر.ع15.1m, up 43% from the prior year. Total revenue was ر.ع63.9m over the last 12 months, largely unchanged from the prior year. Announcement • Sep 12
Salalah Port Services Company SAOG to Report Q2, 2020 Results on Jul 27, 2020 Salalah Port Services Company SAOG announced that they will report Q2, 2020 results on Jul 27, 2020 
