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Saudi Electricity Company Reports 22 Percent Net Profit Growth in Q2 2025
#Riyadh, #Saudi #Arabia, August 10th, 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 Prozent to reach SAR 27.7 billion, while gross profit rose by 42 Prozent to SAR 7.4 billion. Operating profit increased by 21 Prozent to SAR 6.8 billion, and net profit reached SAR 5.3 billion marking a 22 Prozent year on year increase.
For the first half of 2025, SEC reported a revenue growth of 23 Prozent, totalling SAR 47.2 billion. Gross profit rose by 40 Prozent to SAR 10.2 billion, operating profit increased by 20 Prozent to SAR 9.1 billion, and net profit grew by 19 Prozent 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 gigawatts, and the company successfully commissioned 8.0 giga watt hours of #battery #energy storage systems across four sites: Bisha, Jazan, Khamis Mushait, and Najran.
SEC is currently developing an additional 14 giga watt hours 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 Prozent increase over2024 and an 85 Prozent 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 Prozent, reinforcing its global leadership in sustainability performance.
Electricity demand continued to rise in H1 2025, with peak load growing by 3 Prozent to 75.1 GW, and total electricity consumption increasing by 10 Prozent 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 Prozent to exceed 827,000 circuit kilometers, while transmission and fiber optic networks grew by 6 Prozent and 9 Prozent, 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 Prozent, and customer satisfaction rose to 85.8 Prozent, underscoring improvements in service quality and communication effectiveness.
About Saudi Electricity Company (SEC)
The Saudi Electricity Company (SEC) is the largest electric utility company in the Middle East. It is responsible for the generation, transmission, and distribution of electricity across Saudi Arabia. Established in 2000 through the merger of several. More …
