ACWA Power Co. (Acwa) reported a net profit of SAR 1.85 billion for 2025, an increase of 5.4% from SAR 1.75 billion in 2024.
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 6,297.30 | 7,413.50 | 17.7 % |
| Gross Income | 3,330.59 | 3,764.57 | 13.0 % |
| Operating Income | 1,357.51 | 1,837.38 | 35.3 % |
| Net Income | 1,757.06 | 1,852.23 | 5.4 % |
| Average Shares | 738.44 | 766.49 | 3.8 % |
| Earnings Per Share before unusual items (Riyals) | 1.33 | 2.07 | 54.9 % |
| EPS (Riyal) | 2.38 | 2.42 | 1.6 % |
The profit growth was attributed to higher consolidated revenues during the current year, driven by higher development services revenue, a rise in operation and maintenance income, and greater electricity generation, despite lower water production.
It was also supported by higher gross profit, increased other operating income, and stronger financial income.
This was partially offset by lower net results from equity-accounted investments, higher asset recycling gains recorded in the previous year, and increased finance costs.
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 1,735.53 | 2,039.28 | 17.5 % |
| Gross Income | 873.34 | 996.45 | 14.1 % |
| Operating Income | 404.57 | 407.77 | 0.8 % |
| Net Income | 502.17 | 572.08 | 13.9 % |
| Average Shares | 738.44 | 766.49 | 3.8 % |
| Earnings Per Share before unusual items (Riyal) | 0.57 | 0.85 | 50.4 % |
| EPS (Riyal) | 0.68 | 0.75 | 9.8 % |
| Item | Q3 2025 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 1,659.52 | 2,039.28 | 22.9 % |
| Gross Income | 953.14 | 996.45 | 4.5 % |
| Operating Income | 390.44 | 407.77 | 4.4 % |
| Net Income | 371.17 | 572.08 | 54.1 % |
| Average Shares | 766.49 | 766.49 | - |
| Earnings Per Share before unusual items (Riyal) | 0.24 | 0.85 | 258.5 % |
| EPS (Riyal) | 0.48 | 0.75 | 54.1 % |
Q4 2025 net earnings rose 13.9% year-on-year (YoY) to SAR 572.1 million from SAR 502.17 million.
On a quarterly basis, net profit grew 54.1% from SAR 371.17 million in Q3 2025.
Total shareholders’ equity, after minority interest, stood at SAR 29 billion by Dec. 31, 2025, compared to SAR 21.85 billion a year earlier.
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