Saudi Power reports 6.7B riyals profit in H2
The Saudi Energy Company recorded net profits of 4.89 billion riyals during the second quarter of 2026, a decrease of 7.4% compared to the same period last year. This decline is attributed to higher operating and maintenance expenses as well as increased financing costs. Despite this, the company experienced an 11.3% rise in revenues, reaching 30.86 billion riyals, supported by growth in its asset base and increased income from projects related to the development and management of the electrical grid. For the first half of 2026, the company's profits increased by 7.5% to 6.72 billion riyals, while revenues grew by 10.5% to 52.2 billion riyals. The company reaffirmed its ongoing substantial investments in transmission, distribution, and renewable energy networks to enhance the resilience and sustainability of the kingdom's energy system, in line with Saudi Vision 2030.
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