24 Hrs
Source:
الاقتصادية
Saudi Utilities posts second quarterly loss
Mawarikh Electricity and Water Company in Jubail and Yanbu recorded a loss of 46 million SAR in the second quarter of 2026, marking the second quarterly loss since its listing on the Saudi market. The loss was caused by higher production and transportation costs, along with a decline in industrial demand for water, despite a 22% increase in revenues driven by extraordinary effects from previous bill settlements. The decreased industrial sector demand for water led to a decline in revenues by approximately 23 million SAR, while fuel and transportation costs rose, squeezing profit margins. However, free cash flows increased by 32% to 672 million SAR, with debt ratios remaining stable at 3.15 times. Nonetheless, the decline in operating profits may threaten the sustainability of financial performance in the future.
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