Saudi Energy, the company formerly known as Saudi Electricity Company, booked revenue of 87.2 billion riyals in the first nine months of 2026, up 11.5% on the same period last year, according to results it announced on the Saudi stock exchange on Tuesday, 10 November 2026.
The main figures:
- Nine-month net profit: 12.1 billion riyals, up 4.3% year on year.
- Third quarter: revenue of about 35 billion riyals, up 12.9%, and net profit of about 5.4 billion riyals, slightly higher than a year earlier.
- Nine-month operating profit: 16.9 billion riyals, up 4.7%.
- Regulated asset base: 278.8 billion riyals at the end of September, up 16.6%.
- Customers: about 11.7 million after 237,762 new connections.
The company linked the revenue growth to higher required revenue as its regulated grid assets expanded, extra earnings from contracts to develop and manage projects, and more customers. Third-quarter profit was helped by lower expected credit loss provisions and better returns from some investments, while higher operating, maintenance and financing costs and lower other income held growth back.
The company also reached its battery storage goal for the year. "With 22 GWh (gigawatt-hour) of battery storage now energized, we achieved our 2026 target, supporting a more flexible grid and greater renewable integration," chief executive Khalid Al-Ghamdi said.
Source: Al Eqtisadiah, Arab News, Saudi Gulf Projects
