Saudi Energy (5110) Q3 2025 earnings summary

Executive summary

• Operating revenue for the nine months ended September 30, 2025, reached 78.27 billion, up from 66.55 billion year-over-year, driven by higher electricity sales and regulatory adjustments.

• Net profit for the nine-month period was 11.58 billion, compared to 12.14 billion in the prior year, reflecting increased finance costs and impairment losses.

• Strategic focus on expanding generation, transmission, and distribution, with major clean energy and digital infrastructure projects underway.

• Total assets grew to 619.45 billion as of September 30, 2025, from 547.01 billion at year-end 2024, mainly due to significant capital investments.

Financial highlights

• Operating revenue for 9M 2025 was 78.27 billion, up 17.6% year-over-year; Q3 revenue was 31.0 billion, up 9.6%.

• Gross profit for the nine months was 17.68 billion, up from 16.07 billion year-over-year.

• Operating profit reached 16.12 billion, compared to 15.89 billion in the prior year.

• Basic and diluted EPS after Mudaraba instrument dividends was 1.18, down from 1.33 year-over-year.

• CapEx surged 86.4% to 74 billion in 9M 2025, the highest in company history.

Outlook and guidance

• An additional charge of 2 halalas per kWh will be added to tariffs for non-eligible industrial, commercial, and agricultural customers starting May 28, 2025.

• The company is developing strategies to improve energy performance and increase renewable energy contributions, aligning with national climate initiatives.

• Continued focus on clean energy deployment, operational excellence, and reliability to drive future growth.

• Record investments expected to be key drivers of regulated asset base (RAB) growth and business expansion.