ACWA Power H1 2025 profit declines 2% to SAR 909M; Q2 at SAR 481.8M

31/07/2025 Argaam Exclusive

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ACWA Power Co. reported a 2% decrease in H1 2025 net profit to SAR 909 million, from SAR 926.8 million in the year-earlier period.

Financials (M)

Item	6m 2024	6m 2025	Change‬
Revenues	2,814.33	3,714.70	32.0 %
Gross Income	1,457.46	1,814.98	24.5 %
Operating Income	608.40	1,039.17	70.8 %
Net Income	926.79	908.98	(1.9 %)
Average Shares	738.44	738.44	-
Earnings Per Share before unusual items (Riyals)	0.38	1.02	168.5 %
EPS (Riyal)	1.26	1.23	(1.9 %)

The profit decline was due to recognizing a divestment gain in the same period last year, lower other income, higher impairment losses, and increased finance charges.

These factors were partially offset by higher other operating income and a greater share in the net results of equity-accounted investees, besides net Zakat and income tax.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2024	Q2 2025	Change‬
Revenues	1,562.57	1,747.46	11.8 %
Gross Income	836.91	714.13	(14.7 %)
Operating Income	358.64	362.78	1.2 %
Net Income	630.62	481.83	(23.6 %)
Average Shares	738.44	738.44	-
Earnings Per Share before unusual items (Riyal)	0.31	0.30	(1.8 %)
EPS (Riyal)	0.85	0.65	(23.6 %)

Item	Q1 2025	Q2 2025	Change‬
Revenues	1,967.24	1,747.46	(11.2 %)
Gross Income	1,100.84	714.13	(35.1 %)
Operating Income	676.39	362.78	(46.4 %)
Net Income	427.15	481.83	12.8 %
Average Shares	738.44	738.44	-
Earnings Per Share before unusual items (Riyal)	0.71	0.30	(57.2 %)
EPS (Riyal)	0.58	0.65	12.8 %

The company’s net profit fell 23.6% in Q2 2025 to SAR 481.8 million from SAR 630.6 million in Q2 2024.

On a quarterly basis, net earnings grew 12.8% from SAR 427.15 million in Q1 2025.

Total shareholders’ equity, excluding minority interest, stood at SAR 21.47 billion as of June 30, 2025, compared to SAR 20.61 billion in the prior-year period.

Attached Documents:

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	3,782.90	-	1,610.35	-	785.34	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	3,227.83	(14.7 %)	1,309.55	(18.7 %)	715.31	(8.9 %)
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	853.13	-	362.69	-	194.22	-
Q4 2019	1,322.80	-	703.93	-	489.86	-
2019	4,115.00	27.5 %	2,086.20	59.3 %	1,417.66	98.2 %
Q1 2020	1,062.77	-	468.07	-	296.00	-
Q2 2020	1,208.09	-	711.37	-	355.24	-
Q3 2020	1,367.15	60.3 %	754.29	108.0 %	603.18	210.6 %
Q4 2020	1,191.10	(10.0 %)	594.03	(15.6 %)	311.60	(36.4 %)
2020	4,829.11	17.4 %	2,527.75	21.2 %	1,566.01	10.5 %
Q1 2021	1,242.76	16.9 %	661.45	41.3 %	402.89	36.1 %
Q2 2021	1,251.76	3.6 %	700.65	(1.5 %)	461.73	30.0 %
Q3 2021	1,268.81	(7.2 %)	708.01	(6.1 %)	469.06	(22.2 %)
Q4 2021	1,472.07	23.6 %	781.61	31.6 %	465.90	49.5 %
2021	5,235.39	8.4 %	2,851.72	12.8 %	1,793.60	14.5 %
Q1 2022	1,151.27	(7.4 %)	583.50	(11.8 %)	340.78	(15.4 %)
Q2 2022	1,293.72	3.4 %	671.07	(4.2 %)	444.93	(3.6 %)
Q3 2022	1,262.85	(0.5 %)	694.88	(1.9 %)	508.46	8.4 %
Q4 2022	1,568.09	6.5 %	894.33	14.4 %	485.88	4.3 %
2022	5,275.93	0.8 %	2,865.35	0.5 %	1,800.57	0.4 %
Q1 2023	1,331.44	15.6 %	701.45	20.2 %	427.85	25.6 %
Q2 2023	1,411.92	9.1 %	794.17	18.3 %	510.06	14.6 %
Q3 2023	1,542.13	22.1 %	877.49	26.3 %	535.27	5.3 %
Q4 2023	1,809.52	15.4 %	1,122.08	25.5 %	715.73	47.3 %
2023	6,095.01	15.5 %	3,495.18	22.0 %	2,188.91	21.6 %
Q1 2024	1,251.76	(6.0 %)	620.55	(11.5 %)	249.92	(41.6 %)
Q2 2024	1,562.57	10.7 %	836.91	5.4 %	358.64	(29.7 %)
Q3 2024	1,747.44	13.3 %	999.79	13.9 %	344.54	(35.6 %)
Q4 2024	1,735.53	(4.1 %)	873.34	(22.2 %)	404.57	(43.5 %)
2024	6,297.30	3.3 %	3,330.59	(4.7 %)	1,357.51	(38.0 %)
Q1 2025	1,967.24	57.2 %	1,100.84	77.4 %	676.39	170.6 %
Q2 2025	1,747.46	11.8 %	714.13	(14.7 %)	362.78	1.2 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	3,782.90	-	1,610.35	-	785.34	-
2018	3,227.83	(14.7 %)	1,309.55	(18.7 %)	715.31	(8.9 %)
2019	4,115.00	27.5 %	2,086.20	59.3 %	1,417.66	98.2 %
2020	4,829.11	17.4 %	2,527.75	21.2 %	1,566.01	10.5 %
2021	5,235.39	8.4 %	2,851.72	12.8 %	1,793.60	14.5 %
2022	5,275.93	0.8 %	2,865.35	0.5 %	1,800.57	0.4 %
2023	6,095.01	15.5 %	3,495.18	22.0 %	2,188.91	21.6 %
2024	6,297.30	3.3 %	3,330.59	(4.7 %)	1,357.51	(38.0 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	920.24	-	1.25	-	920.24	1.25
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	(773.84)	(184.1 %)	(1.05)	(1228.39)	454.55	0.62
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	87.28	-	0.12	-	87.28	0.12
Q4 2019	1,038.81	-	1.41	(325.85)	1,364.66	1.85
2019	1,173.87	251.7 %	1.59	(325.85)	1,499.71	2.03
Q1 2020	104.63	-	0.14	-	104.63	0.14
Q2 2020	221.02	-	0.30	-	221.02	0.30
Q3 2020	524.25	500.6 %	0.71	-	524.25	0.71
Q4 2020	32.67	(96.9 %)	0.04	(149.79)	182.46	0.25
2020	882.57	(24.8 %)	1.20	(149.79)	1,032.35	1.40
Q1 2021	139.04	32.9 %	0.19	-	139.04	0.19
Q2 2021	307.85	39.3 %	0.42	(60.02)	367.87	0.50
Q3 2021	(26.94)	(105.1 %)	(0.04)	(308.50)	281.56	0.38
Q4 2021	338.85	937.1 %	0.46	-	338.85	0.46
2021	758.80	(14.0 %)	1.03	(368.52)	1,127.32	1.53
Q1 2022	151.85	9.2 %	0.21	48.71	103.15	0.14
Q2 2022	389.87	26.6 %	0.53	-	389.87	0.53
Q3 2022	341.70	1368.3 %	0.46	12.75	328.95	0.45
Q4 2022	656.61	93.8 %	0.89	397.66	258.96	0.35
2022	1,540.04	103.0 %	2.09	459.11	1,080.92	1.46
Q1 2023	269.74	77.6 %	0.37	-	269.74	0.37
Q2 2023	414.40	6.3 %	0.56	-	414.40	0.56
Q3 2023	397.94	16.5 %	0.54	88.68	309.26	0.42
Q4 2023	579.64	(11.7 %)	0.78	31.58	548.06	0.74
2023	1,661.71	7.9 %	2.25	120.26	1,541.46	2.09
Q1 2024	296.17	9.8 %	0.40	245.79	50.38	0.07
Q2 2024	630.62	52.2 %	0.85	401.70	228.92	0.31
Q3 2024	328.10	(17.6 %)	0.44	40.07	288.03	0.39
Q4 2024	502.17	(13.4 %)	0.68	83.84	418.33	0.57
2024	1,757.06	5.7 %	2.38	771.40	985.66	1.33
Q1 2025	427.15	44.2 %	0.58	(98.00)	525.15	0.71
Q2 2025	481.83	(23.6 %)	0.65	257.00	224.83	0.30

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	920.24	-	1.25	-	920.24	1.25
2018	(773.84)	(184.1 %)	(1.05)	(1228.39)	454.55	0.62
2019	1,173.87	251.7 %	1.59	(325.85)	1,499.71	2.03
2020	882.57	(24.8 %)	1.20	(149.79)	1,032.35	1.40
2021	758.80	(14.0 %)	1.03	(368.52)	1,127.32	1.53
2022	1,540.04	103.0 %	2.09	459.11	1,080.92	1.46
2023	1,661.71	7.9 %	2.25	120.26	1,541.46	2.09
2024	1,757.06	5.7 %	2.38	771.40	985.66	1.33

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	42.57 %	28.02 %	24.33 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	40.57 %	33.49 %	14.08 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	50.70 %	44.62 %	36.44 %
Q1 2020	-	-	-
Q2 2020	50.51 %	-	39.97 %
Q3 2020	53.17 %	46.71 %	44.64 %
Q4 2020	52.34 %	44.18 %	21.38 %
2020	52.34 %	44.18 %	21.38 %
Q1 2021	54.32 %	44.71 %	21.30 %
Q2 2021	53.64 %	46.92 %	24.02 %
Q3 2021	53.77 %	45.26 %	19.60 %
Q4 2021	54.47 %	46.23 %	21.53 %
2021	54.47 %	46.12 %	21.53 %
Q1 2022	53.92 %	45.39 %	21.22 %
Q2 2022	52.92 %	43.64 %	21.47 %
Q3 2022	52.72 %	43.78 %	22.41 %
Q4 2022	53.90 %	42.57 %	20.49 %
2022	54.31 %	42.96 %	20.49 %
Q1 2023	54.28 %	42.71 %	22.86 %
Q2 2023	55.34 %	42.96 %	22.82 %
Q3 2023	55.82 %	41.33 %	21.39 %
Q4 2023	57.34 %	43.51 %	25.29 %
2023	57.34 %	43.51 %	25.29 %
Q1 2024	56.76 %	41.21 %	21.98 %
Q2 2024	56.07 %	37.78 %	18.43 %
Q3 2024	56.18 %	33.69 %	17.51 %
Q4 2024	52.89 %	29.86 %	15.65 %
2024	52.89 %	29.86 %	15.65 %
Q1 2025	54.34 %	33.20 %	20.83 %
Q2 2025	51.24 %	31.77 %	20.23 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
2016	-	-	-
2017	42.57 %	28.02 %	24.33 %
2018	40.57 %	33.49 %	14.08 %
2019	50.70 %	44.62 %	36.44 %
2020	52.34 %	44.18 %	21.38 %
2021	54.47 %	46.12 %	21.53 %
2022	54.31 %	42.96 %	20.49 %
2023	57.34 %	43.51 %	25.29 %
2024	52.89 %	29.86 %	15.65 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	42.51 %	-	10.23 %
Q4 2019	53.22 %	47.72 %	103.16 %
Q1 2020	44.04 %	41.00 %	9.84 %
Q2 2020	58.88 %	41.41 %	18.30 %
Q3 2020	55.17 %	54.84 %	38.35 %
Q4 2020	49.87 %	37.58 %	15.32 %
Q1 2021	53.22 %	43.62 %	11.19 %
Q2 2021	55.97 %	50.45 %	29.39 %
Q3 2021	55.80 %	48.94 %	22.19 %
Q4 2021	53.10 %	42.52 %	23.02 %
Q1 2022	50.68 %	39.63 %	8.96 %
Q2 2022	51.87 %	43.27 %	30.14 %
Q3 2022	55.03 %	49.54 %	26.05 %
Q4 2022	57.03 %	38.53 %	16.51 %
Q1 2023	52.68 %	40.62 %	20.26 %
Q2 2023	56.25 %	44.20 %	29.35 %
Q3 2023	56.90 %	42.17 %	20.05 %
Q4 2023	62.01 %	46.25 %	30.29 %
Q1 2024	49.57 %	29.39 %	4.02 %
Q2 2024	53.56 %	30.36 %	14.65 %
Q3 2024	57.21 %	26.73 %	16.48 %
Q4 2024	50.32 %	32.91 %	24.10 %
Q1 2025	55.96 %	41.45 %	26.69 %
Q2 2025	40.87 %	24.79 %	12.87 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	738.44	-	-	11.92
Q4 2019	738.44	-	-	13.41
Q1 2020	738.44	-	-	11.18
Q2 2020	738.44	1.97	2.41	11.05
Q3 2020	738.44	2.56	3.00	11.93
Q4 2020	738.44	1.20	1.40	9.30
Q1 2021	738.44	1.24	1.44	10.91
Q2 2021	738.44	1.36	1.64	11.07
Q3 2021	738.44	0.61	1.31	11.41
Q4 2021	738.44	1.03	1.53	18.26
Q1 2022	738.44	1.04	1.48	20.77
Q2 2022	738.44	1.16	1.51	22.46
Q3 2022	738.44	1.66	1.57	24.68
Q4 2022	738.44	2.09	1.46	25.27
Q1 2023	738.44	2.25	1.69	24.77
Q2 2023	738.44	2.28	1.72	25.77
Q3 2023	738.44	2.35	1.70	29.34
Q4 2023	738.44	2.25	2.09	25.94
Q1 2024	738.44	2.29	1.79	28.06
Q2 2024	738.44	2.58	1.54	27.91
Q3 2024	738.44	2.48	1.51	25.08
Q4 2024	738.44	2.38	1.33	29.60
Q1 2025	738.44	2.56	1.98	28.43
Q2 2025	738.44	2.36	1.97	29.08

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
2016	-	-	-	-
2017	738.44	1.25	1.25	11.51
2018	738.44	(1.05)	0.62	13.12
2019	738.44	1.59	2.03	13.41
2020	738.44	1.20	1.40	9.30
2021	738.44	1.03	1.53	18.26
2022	738.44	2.09	1.46	25.27
2023	738.44	2.25	2.09	25.94
2024	738.44	2.38	1.33	29.60

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	84.01	56.55	4.73
Q1 2022	More than 100	93.04	6.62
Q2 2022	More than 100	More than 100	6.84
Q3 2022	More than 100	More than 100	7.00
Q4 2022	74.90	More than 100	6.18
Q1 2023	64.36	85.53	5.83
Q2 2023	75.24	99.51	6.65
Q3 2023	85.38	More than 100	6.85
Q4 2023	More than 100	More than 100	10.18
Q1 2024	More than 100	More than 100	11.98
Q2 2024	More than 100	More than 100	12.99
Q3 2024	More than 100	More than 100	20.31
Q4 2024	More than 100	More than 100	13.96
Q1 2025	More than 100	More than 100	12.43
Q2 2025	More than 100	More than 100	9.07

Period	P/E	Recurring P/E	Price/book
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	84.01	56.55	4.73
2022	74.90	More than 100	6.18
2023	More than 100	More than 100	10.18
2024	More than 100	More than 100	13.96

Business Segments (Million)

Compared With The

Period	Electricity Generation and Thermal Water Desalination	Renewable Energy Sources	Other activities	Water and power generation parts	services segment
Q1 2020	929.91	126.09	6.77	-	-
Q2 2020	932.92	263.56	11.61	-	-
Q3 2020	1,102.49	262.85	1.82	-	-
Q4 2020	1,020.98	164.16	5.97	-	-
Q1 2021	1,040.37	200.92	1.47	-	-
Q2 2021	944.68	302.78	4.30	-	-
Q3 2021	1,013.72	248.24	6.86	-	-
Q4 2021	1,191.67	275.56	4.85	-	-
Q1 2022	972.41	170.77	8.09	-	-
Q2 2022	1,042.92	269.37	(18.57)	-	-
Q3 2022	1,032.42	227.59	2.83	-	-
Q4 2022	1,210.10	350.11	7.88	-	-
Q1 2023	1,080.84	237.94	12.67	-	-
Q2 2023	1,066.11	342.39	3.42	-	-
Q3 2023	1,131.81	401.02	9.29	-	-
Q1 2024	1,041.16	206.24	4.36	-	-
Q2 2024	1,151.80	405.70	5.07	-	-
Q3 2024	1,227.05	508.21	12.18	-	-
Q1 2025	1,465.05	491.89	10.29	-	-
Q2 2025	1,157.83	582.47	7.16	-	-

Period	Electricity Generation and Thermal Water Desalination	Renewable Energy Sources	Other activities	Water and power generation parts	services segment
2017	-	-	-	1,810.42	1,706.71
2018	-	-	-	1,539.84	1,688.00
2019	3,267.42	823.45	24.12	-	-
2020	3,986.29	816.65	26.17	-	-
2021	4,190.44	1,027.49	17.46	-	-
2022	4,257.86	1,017.85	0.22	-	-
2023	4,518.62	1,571.31	5.08	-	-
2024	4,857.39	1,433.63	6.28	-	-

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change	Profit Before Unusual Items	Change
Average	450.75	481.83		224.83

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)	Change‬	Profit Before Unusual Items	Change‬
Goldman Sachs	582.50	481.83		224.83
Al Rajhi Capital	319.00	481.83		224.83

Financial Ratios

	Current
Market Cap (M Riyal)	143,487.07
Enterprise Value (EV) (M Riyal)	166,029.15
Shares Outstanding ((M))	766.49
EPS ( Riyal) (TTM)	2.33
Book Value (BV) ( Riyal)	36.79
Par Value ( Riyal)	10.00
Recurring P/E	More than 100
P/E (TTM)	80.51
Price/book	5.09
Return on Average Assets (%) (TTM)	2.9
Return on Average Equity (%) (TTM)	7.6
EV/adj EBITDA	68.17
EV/Revenues	23.35

ACWA POWER Co. (ACWA)

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ACWA Power H1 2025 profit declines 2% to SAR 909M; Q2 at SAR 481.8M

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2025 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

ACWA POWER Co. (ACWA)

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ACWA Power H1 2025 profit declines 2% to SAR 909M; Q2 at SAR 481.8M

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2025

Revenue by Business Segment (Latest) 2025 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

ACWA POWER Co. (ACWA)

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Business Segments (Million)