Sustainable 55% Growth in Asyad Group’s Net Profits: Key Implications for Investors and Entrepreneurs in Oman
Muscat, July 12 – Asyad Group has made significant strides in international logistics services and operational growth in new markets during 2024. The company is steadily advancing its strategy to establish itself as a key player in the global logistics scene, providing integrated logistics solutions worldwide.
In its annual report, Asyad Group noted that 2024 marked a pivotal transformation in its journey, completing its first international acquisition, thereby expanding its global operations to serve over 90 geographical regions.
This achievement underscores the company’s dedication to building a global logistics network that connects Oman with countries worldwide. It reflects the effectiveness of its strategies and the efficiency of its teams, culminating in a sustainable financial performance and accelerated growth by the end of 2024.
The group’s financial results showcased an impressive compound annual growth rate ل 17% in revenue since 2016, with a 55% increase in net profits, demonstrating its commitment to enhancing financial performance and sustaining growth. The company maintained its competitive position in the global market throughout 2024.
In 2024, Asyad Group’s revenues reached approximately 493 million Omani Riyals (عن 1.28 billion USD), marking a 6% increase from 2023. The net profits stood at 52.8 million Omani Riyals (تقريبًا 137.3 million USD).
Moreover, 2024 was a landmark year for attracting projects and investments to Oman, with free and economic zones attracting investments of 2.41 billion Omani Riyals (حول 6.26 billion USD), a significant 133% increase compared to 2023.
Key projects in free zones commenced, notably the first phase of the Muscat Airport Free Zone, expected to become a strategic hub for attracting regional and international investors, thus solidifying Oman’s status as a global logistics investment destination.
Asyad Ports witnessed a considerable rise in handling operations, with general cargo up by 12% و container handling growing by an impressive 38% compared to 2023, highlighting operational efficiency and responsiveness to rising demand in the logistics sector.
The group has also increased the capacity of Salalah Port ل 6.5 million standard containers, enhancing its ability to accommodate more international trade traffic. Furthermore, Asyad Group signed a concession agreement to develop and expand Suwaiq Port and is also exploring future investments in Sultan Qaboos Port. These efforts are part of its plans to boost logistics infrastructure and strengthen Oman’s position as a major player in global trade.
في maritime transport sector, the fleet has strategically expanded to include over 90 multipurpose vessels servicing more than 200 global trade ports, enhancing international trade capabilities and connecting global markets efficiently. The company has successfully reduced carbon emissions from its fleet by 6%, aligning with its commitment to sustainable energy.
In the ship repair and maintenance sector, Asyad Dry Dock completed 232 projects, strengthening its global competitiveness and opening new collaborative opportunities with international clients by adhering to the highest international repair standards.
In logistics services, Asyad Logistics continued to experience rapid growth, bolstered by its acquisition of Sky Bridge Shipping Solutions, which improved operational efficiency through its offices across 90 geographic locations globally.
This expansion resulted in significant increases in freight forwarding volumes through various ports in 2024: 349% growth for maritime, 198% for land, and 160% for air, reflecting the robustness of its logistics network and its ability to meet customer needs with agility.
In collaboration with the UAE, the Oman-UAE Railway Project initiated preparatory works, led by national talents from both countries, aimed at enhancing transportation systems and boosting logistical integration in the region.
As part of its global strategy, Asyad has fortified its presence in 22 international cities, expanded into new markets, and enhanced its maritime fleet while managing new marine terminals. The efficiency of operations in the dry dock has improved, alongside a significant increase in its warehousing network from three local ل 11 regional warehouses.
In 2024, 122 Omani seafarers joined Asyad’s maritime fleet, a move that reflects the company’s ongoing support for the Omani maritime transport sector and the creation of 619 new jobs.
تحليل خاص من عمانت | تصفح سوق عُمان
The recent expansion of Asyad Group’s logistics services and their international acquisition positions Oman as a key player in global logistics. وهذا يخلق فرص للشركات to leverage enhanced connectivity, while also presenting المخاطر in increased competition. المستثمرون ورجال الأعمال الأذكياء should explore potential collaborations in the emerging free zones, particularly the new Muscat Airport Free Zone, to capitalize on anticipated growth and investment inflows.
المصدر: أخبار عُمان
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