Saudi Electricity Company (5110) Q4 2025 earnings summary

Executive summary

• Launched new corporate identity as Saudi Energy, reflecting a broader strategic role and alignment with Vision 2030.

• Achieved record revenues and EBITDA in 2025, driven by strong energy demand, grid modernization, and strategic investments.

• Delivered uninterrupted supply, supporting national progress and Vision 2030 objectives.

• Maintained robust financial position and investment-grade credit rating.

• Expanded asset base and reinforced financial position through disciplined execution of integrated energy infrastructure investments.

Financial highlights

• Revenues rose 15.3% year-on-year to SAR 102.22 billion, the highest on record.

• Net profit increased 88.9% to SAR 12.98 billion; EPS at 0.96 after Mudaraba deduction.

• EBITDA (excluding 2024 one-offs) increased 10.1% to SAR 41.55 billion.

• Gross profit up 18.9% to SAR 20.8 billion; operating profit up 62.1% to SAR 19.1 billion.

• Cash dividend of SAR 0.70 per share recommended, pending AGM approval.

Outlook and guidance

• Sustained growth expected in transmission and distribution, with targets aligned to Vision 2030.

• CAPEX guidance for 2026 set at SAR 70–75 billion, supporting future growth.

• Infrastructure expansion planned through 2030, underpinning long-term growth visibility.

• Continued focus on operational excellence, grid resilience, and financial sustainability.

• Ongoing commitment to renewable energy integration and grid enhancements.