Nebras Energy (QEWS) Q2 2026 earnings summary

Executive summary

• Operational performance remained strong in H1 2026, with uninterrupted plant operations and robust business fundamentals.

• Market share in power and water remains high in Qatar, with a diversified international portfolio and strong demand growth in key regions.

• Revenue for Q2 2026 rose 7% year-over-year to QAR 1,548m, driven by higher sent out power and water volumes and improved capacity charge rates.

• The group operates in electricity and water production, with significant operations in Qatar and international markets.

• The legal name changed to Nebras Energy Q.P.S.C. effective 8 January 2026.

Financial highlights

• Revenue for H1 2026 was QAR 1,548.2 million, up 7% year-over-year.

• EBITDA for H1 2026 was QAR 893 million, down 8.2% from the prior year due to a one-time fair value adjustment.

• Net profit for H1 2026 was QAR 579.6 million, compared to QAR 662.4 million last year.

• Gross profit increased to QAR 469 million from QAR 462 million year-over-year.

• Q2 2026 net profit was QAR 284 million, down from QAR 375 million in Q2 2025.

Outlook and guidance

• Electricity demand is expected to grow internationally, driven by AI and data center expansion.

• The company is well-positioned to capitalize on these opportunities with long-term offtake and fuel supply agreements.

• Results for the six-month period are not necessarily indicative of full-year 2026 performance.

• Management continues to monitor geopolitical risks and their potential financial impact.

• The Board will reassess dividend recommendations at year-end, considering financial position and market conditions.