Saudi Electricity Company (5110) Q1 2026 earnings summary

Executive summary

• Report covers the three months ended March 31, 2026, with a name change from Saudi Electricity Company to Saudi Energy Company and continued focus on electricity generation, transmission, and distribution in Saudi Arabia.

• The company remains tariff-regulated, with the majority shareholding held by the Public Investment Fund.

Financial highlights

• Operating revenue rose to 21.34 billion SAR, up from 19.50 billion SAR year-over-year.

• Gross profit increased to 3.81 billion SAR from 2.87 billion SAR year-over-year.

• Net profit for the period was 1.83 billion SAR, nearly doubling from 968 million SAR year-over-year.

• Total assets reached 649.89 billion SAR, up from 635.82 billion SAR at year-end 2025.

• Cash and cash equivalents at period end were 3.21 billion SAR, up from 1.26 billion SAR at year-end 2025.

Outlook and guidance

• Management continues to monitor macroeconomic and geopolitical risks, with no material impact identified as of the reporting date.

• Ongoing large-scale capital expenditure program to expand and renew power generation and transmission capacity.