MARAFIQ earns SAR 449.4M in 2025, SAR 51.2M in Q4

The Power and Water Utility Company for Jubail and Yanbu’s (MARAFIQ) net profit spiked to SAR 449.4 million in 2025, compared to SAR 17.2 million a year earlier.

The profit growth was mainly due to higher water and gas revenues, stronger contributions from its wholly-owned subsidiary Tawreed, lower financing costs, elevated other operating income, and the absence of a prior-year receivables provision.

By segment, the Saudi-listed company witnessed a 4.08% increase in its water and gas revenues, as the power segment’s sales soared by SAR 58.34 million (+10.54% YoY).

In 2025, MARAFIQ also capitalized on the absence of a prior-year receivables provision of SAR 496.20 million related to the intensive electricity consumption tariff.

However, this positive performance was partially offset by a non-recurring tariff adjustment and higher fuel prices as well as increased power and water procurement and electricity transmission costs.

MARAFIQ turned to a net profit of SAR 51.2 million in Q4 2025, against a net loss of SAR 370.3 million a year earlier.

On a sequential basis, however, the three-month profits declined 70% from SAR 170.67 million in Q3 2025.

Total shareholders’ equity, no minority interest, stood at SAR 5.60 billion by Dec. 31, 2025, compared to SAR 5.22 billion a year earlier.

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