Riyadh - Mubasher: Saudi Energy Company logged net profits amounting to SAR 6.72 billion for the first half of 2026, representing a 7.53% increase compared to the SAR 6.25 billion in H1-25.
The utility provider attributed the growth to a rise in recognized required revenue following the expansion of its regulated asset base and increased demand for electrical energy.
Operating revenue for the six-month period hit SAR 52.20 billion, up 10.54% from SAR 47.22 billion a year earlier.
The company noted a decrease in expected credit loss provisions due to improved collection rates. However, these gains were partially offset by higher operation and maintenance expenses and rising finance costs linked to new funding for capital expenditure plans.
For the second quarter (Q2) of 2026, the net profit stood at SAR 4.89 billion, down 7.44% from the SAR 5.28 billion reported in the corresponding quarter of 2025.
The quarterly decrease was primarily due to higher operating costs and financing charges.
Total shareholders' equity, excluding non-controlling interests, was recorded at SAR 257.34 billion as of 30 June 2026. Earnings per share (EPS) grew to SAR 0.53 in H1-26, compared to SAR 0.45 in the previous year.
As of 31 March 2026, the group’s net profits hiked by 89.35% year-on-year (YoY) to SAR 1.83 billion.
