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الاقتصادية
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Saudi Energy earns 4.9B Riyals Q2
Saudi Electricity Company achieved profits of 4.89 billion Riyals during the second quarter of the year, marking a 7.4% decrease year-over-year. Despite this, revenues rose by 11.3% to 30.86 billion Riyals, driven by an expanded asset base and increased recoverable energy costs. The seasonal surge in electricity demand during the summer contributed to a 44.7% increase in revenue compared to the previous quarter, which in turn led to a 167% rise in net profit compared to Q1. In the first half of the year, the company's revenues increased by 10.5% to 52.2 billion Riyals, while net shareholders' profits grew by 7.5% to 6.72 billion Riyals, despite the impact of higher operating expenses and financing costs on profitability. Additionally, earnings per share rose by 17.8% to 0.53 Riyals. The company also announced upcoming meetings to discuss its financial performance.
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