ACWA Power, the Saudi-listed developer and operator of power, water and green hydrogen projects, said second-quarter 2025 net profit fell 24% year-on-year (YoY) to 481.8 million Saudi riyals ($128.44 million) on higher finance costs and impairment losses.

Revenue rose 12% to SAR1.7 billion in the second quarter compared to SAR1.6 billion a year earlier, driven primarily by the sale of electricity.

However,  net profit for the first half of 2025 declined 2% to SAR 909 million, from SAR 926.8 million in the same period last year.

Revenue for the period surged 32% to SAR 3.7 billion, as electricity sales grew.

Impairment losses reached SAR 297 million in the first six months compared to SAR 146 million a year earlier. Financing costs increased by 21% annually to SAR905 million.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)