RCS - Saudi Electricity Co - Saudi Electricity Company Reports 22% Net Profit

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11/08/2025 08:15

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RNS Number : 6944U  Saudi Electricity Company  11 August 2025

Saudi Electricity Company Reports 22% Net Profit Growth in Q2 2025

Strong Results Reflect Rising Demand, Business Growth, and Strategic
Investments Amid Saudi Arabia's Accelerating Energy Transition

RIYADH, SA / ACCESS Newswire (https://www.accessnewswire.com/) / August 11,
2025 / Saudi Electricity Company (SEC) continued to deliver robust financial
and operational performance in the second quarter and first half of 2025.

Revenue for Q2 grew by 24% to reach SAR 27.7 billion, while gross profit rose
by 42% to SAR 7.4 billion. Operating profit increased by 21% to SAR 6.8
billion, and net profit reached SAR 5.3 billion-marking a 22% year-on-year
increase.

See Image Here
(https://cdn.nwe.io/files/x/0e/2f/13cce149916fb72c5aef34a1f693.jpg)

For the first half of 2025, SEC reported a revenue growth of 23%, totalling
SAR 47.2 billion. Gross profit rose by 40% to SAR 10.2 billion, operating
profit increased by 20% to SAR 9.1 billion, and net profit grew by 19% to SAR
6.3 billion compared to the same period in 2024.

This strong financial performance was primarily driven by higher allowed
revenue due to the growth of the regulated asset base of the electricity
network and increased electricity production revenues in response to rising
energy demand. These gains were partially offset by higher operating and
maintenance expenses due to network expansion, asset growth, and increased
loads, as well as a rise in provisions for accounts receivable and a decrease
in other income.

SEC noted that the expansion of its regulated asset base reflects the
continued growth in its transmission and distribution networks to meet
increasing electricity demand, support renewable energy integration, and
advance energy storage projects. The company is also maintaining strategic
investments in digital transformation and operational excellence initiatives.

Commenting on the results, Engineer Khalid bin Salim Al-Ghamdi, Acting CEO of
SEC, stated:

"Our positive performance in the first half of 2025 reflects the company's
continued growth across its business portfolio and asset base. It aligns with
our strategy to provide reliable and secure electricity across the Kingdom,
improve service quality for our customers, and advance sustainability and
operational excellence.

We are committed to further strengthening our position and leveraging the
significant opportunities emerging from the energy transition in Saudi Arabia,
in line with the ambitions of Vision 2030-enabled by the dedication of our
talented national workforce and our unwavering commitment to serving the
nation."

As of the end of H1 2025, the renewable energy capacity connected to the grid
exceeded 9.2 GW, and the company successfully commissioned 8.0 GWh of battery
energy storage systems across four sites: Bisha, Jazan, Khamis Mushait, and
Najran.

SEC is currently developing an additional 14 GWh of storage capacity, expected
to be operational and grid-connected next year, further strengthening grid
reliability and renewable energy integration.

Reaffirming its commitment to embedding sustainability throughout its
operations and enhancing its ESG practices, SEC achieved a significant leap in
its Environmental, Social, and Governance (ESG) rating from S&P Global,
earning 65 out of 100 in 2025. This marks a 30% increase over2024 and an 85%
improvement over 2023.

This accomplishment places SEC at the top of all companies in Saudi Arabia and
as the regional leader in the energy sector across the Middle East and North
Africa, surpassing the global utilities sector average by 66%, reinforcing its
global leadership in sustainability performance.

Electricity demand continued to rise in H1 2025, with peak load growing by 3%
to 75.1 GW, and total electricity consumption increasing by 10% to reach 160.5
terawatt-hours.

SEC successfully met record-breaking peak loads in Makkah, Madinah, and the
Holy Sites during the 1446H Hajj season without a single service
interruption-thanks to the company's full mobilization of resources to serve
pilgrims and ensure their comfort.

The company also made strong progress in service expansion and infrastructure
development. SEC connected around 110,000 new customers, bringing the total
customer base to 11.4 million.

The length of the distribution network grew by 6% to exceed 827,000 circuit
kilometers, while transmission and fiber optic networks grew by 6% and 9%,
respectively, reaching 103.8 thousand and 101 thousand circuit kilometers.

As part of its efforts to enhance service reliability and customer experience,
SEC continued digital infrastructure upgrades and automated distribution
substations, connecting them to control centers via fiber optic networks.

The automation rate of distribution substations reached 38.4%, and customer
satisfaction rose to 85.8%, underscoring improvements in service quality and
communication effectiveness.

Contact Information

Saudi Electricity Company (SEC) Saudi Electricity Company (SEC)

Media Relations Department

alkahrabacare@se.com.sa

Unified Call Center: 920000222

SOURCE: Saudi Electricity Company (SEC)

 

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