Saudi Electricity Company Profit Jumps 22% in Q2 as Power Demand Rises
Saudi Electricity Company (SEC) said its second-quarter net profit rose 21.6% from last year to $1.4 billion (SAR 5.3 billion). The growth was mainly due to higher demand for electricity and more revenue.
Quarterly Results
In a filing, SEC said its revenue for the quarter grew 23.9% to $7.4 billion (SAR 27.7 billion), up from $6 billion (SAR 22.4 billion) a year earlier. This was helped by more customers and higher electricity use.
Extra revenue also came from building substations, transmission lines, and other project services for clients.
Operating profit went up 20.9% to $1.8 billion (SAR 6.8 billion). Total comprehensive income rose 16.1% to $1.4 billion (SAR 5.1 billion).
However, higher operating and maintenance costs—due to business expansion and more assets—reduced some of the profit gains. Profit was also affected because last year’s results included a one-time payment from a supplier that was not repeated this year.
First-Half Performance
In the first six months, SEC’s revenue rose 23.5% from last year to $12.6 billion (SAR 47.2 billion), while net profit increased 19.7% to $2.4 billion (SAR 9.1 billion).
Total comprehensive income for the first half grew 4.6% to $1.6 billion.
Published: 12th August 2025
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