Saudi Energy reports SAR 4.02B profit after Mudaraba in 2025; Q4 losses at SAR 894M

The positive results were driven by higher topline, thanks to an increase in the revenue required to be recognized during the year, supported by strong growth in the grid's regulated asset base. Demand for electricity also rose, with the company posting improved electricity production revenue, and continued expansion of its subscriber base.

The 2024 results were impacted by non-recurring expenses related to the settlement of historical fuel volume and price differences, handling costs, and electricity costs.

These were partially offset by higher operating and maintenance expenses resulting from business growth and the expansion of operating assets, an increase in the provision for electricity consumers’ receivables and higher net finance costs due to new borrowings to fund the company’s capital expenditure expansion and support business growth.

Saudi Energy reported lower other income due to a non-recurring item in the prior year.

Excluding the non-recurring item, net profit for 2025 grew by 7% to SAR 12.97 million, compared to SAR 12.08 billion in 2024.

EBITDA for 2025 reached SAR 41.54 billion, up 10% year-on-year (YoY) from SAR 37.73 billion in 2024.

In Q4 2025, Saudi Energy shrank its net losses to SAR 894 million from SAR 7.48 billion in Q4 2024.

On a quarterly basis, the company swung to a net loss, compared to a net profit of SAR 3 billion in Q3 2025.

Total shareholders’ equity (with no minority interest – after deducting Mudaraba instruments) stood at SAR 84.07 billion at the end of 2025, compared to SAR 83.45 billion by 2024-end.

Net profit attributable to shareholders for 2025 — after deducting Mudarabah payment of SAR 8.95 billion — reached SAR 4,01 billion, compared to a net loss of SAR 1.92 billion in the previous year.

Accordingly, basic and diluted earnings per share for the year ended Dec. 31, 2025, reached SAR 0.96, compared to a loss of SAR 0.46 in the prior year.

View More Financial Results