Financial Results : MARAFIQ earns SAR 227.5M in H1 2025, SAR 109.6M in Q2

MARAFIQ earns SAR 227.5M in H1 2025, SAR 109.6M in Q2

05/08/2025 Argaam Exclusive

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The Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) reported a net profit of SAR 227.5 million in H1 2025, up from SAR 161.4 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 3,319.31 3,106.60 (6.4 %)
Gross Income 733.70 166.88 (77.3 %)
Operating Income 577.04 519.55 (10.0 %)
Net Income 161.42 227.54 41.0 %
Average Shares 250.00 250.00 -
Earnings Per Share before unusual items (Riyals) 0.65 0.91 41.0 %
EPS (Riyal) 0.65 0.91 41.0 %

The profit increase was driven by the net positive impact of revenue adjustments and the reversal of a provision for impairment loss on trade receivables related to the high-intensity tariff.

 

MARAFIQ also recorded a 10.66% decrease in finance costs, amounting to SAR 56.78 million, and a 55.33% increase in other operating income, reaching SAR 42.21 million. The rise in other income was attributed to success fees from the Al-Haer Independent Sewage Treatment Plant Project.

 

Additionally, MARAFIQ saw a decrease in Zakat and income tax provisions by 84.97%, amounting to SAR 18.30 million, and an increase in finance income by 6.09%, or SAR 2.05 million.

 

The positive impact was partially offset by higher fuel costs used in production and higher power and water purchases.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 1,720.09 1,402.66 (18.5 %)
Gross Income 389.11 (151.73) (139.0 %)
Operating Income 303.85 269.49 (11.3 %)
Net Income 93.08 109.60 17.7 %
Average Shares 250.00 250.00 -
Earnings Per Share before unusual items (Riyal) 0.37 0.44 17.7 %
EPS (Riyal) 0.37 0.44 17.7 %

The company reported a net profit of SAR 109.6 million in Q2 2025, rising 17.7% from SAR 93.08 million a year earlier.

 

On the other hand, the second-quarter earnings fell 7.1% from SAR 117.94 million in Q1 2025.

 

Total shareholders’ equity, no minority interest, stood at SAR 5.42 billion as of June 30, 2025, compared to SAR 5.45 billion in a prior-year period.

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