24 Hrs
Source:
الاقتصادية
Saudi Aqua profits drop 28% in H1
Aqua Saudi Company’s profits declined by 28% in the first half of the year, registering 653 million riyals compared to 909 million riyals during the same period last year. The decline was impacted by the timing of project completions and financial closures, despite the continued strong performance of its operational assets, which have a production capacity of 98.2 gigawatts of power and 9.7 million cubic meters of desalinated water per day. During the first half, the company added 5.2 gigawatts of electricity generation and 0.6 million cubic meters of water per day, with managed assets increasing by 30 billion riyals to approximately 475 billion riyals. It continues to execute projects totaling about 47 gigawatts of energy and 2 million cubic meters of desalination capacity, affirming that its project portfolio remains robust and capable of growth, despite some development phases being delayed by 6 to 12 months.
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