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Public Utilities Profits Fall 12 Percent
Public Utilities Sector Profits in the Saudi Stock Market Decline by 12% in Q2 2026 The profits of the public utilities sector in the Saudi stock market decreased by 12% year-on-year during the second quarter of 2026, with four companies experiencing a decline, while some others saw slight increases in the first half of the year. The sector's total profits amounted to 5.28 billion SAR in Q2, compared to 5.998 billion SAR in the same period of 2025, primarily due to a 7.4% drop in Saudi Energy’s profits to 4.89 billion SAR and a 36% decrease in Acwa Power’s profits to 308.42 million SAR. However, some companies posted gains, such as Al Khaleej, which increased by 3.2% to 63.65 million SAR, and Gazz Capital, which rose by 9.8% to 59.20 million SAR, while Mowaffaq was reported to have shifted into losses. In the first half of 2026, sector profits grew slightly by 0.51%, with total sector revenues reaching 62.87 billion SAR, led by Saudi Energy, which accounted for 83% of the revenue.
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