Saudi: SEC’s profits jump 8% in Q1-25; revenues hit $5.2bln

Riyadh – Saudi Electricity Company (SEC) recorded an annual rise of 7.91% in net profit to SAR 968 million during the first quarter (Q1) of 2025, compared to SAR 897 million.

The revenues surged by 22.96% year-on-year (YoY) to SAR 19.50 billion in Q1-25 from SAR 15.85 billion, according to the financial results.

Loss per share declined to SAR 0.29 as of 31 March 2025 from SAR 0.31 a year earlier.

Quarterly, the company turned profitable in Q1-25 against net losses of SAR 5.27 billion in Q4-24, while the revenues fell by 11.81% from SAR 22.11 billion.

In 2024, SEC posted 33% YoY lower net profits at SAR 6.86 billion, compared to SAR 10.24 billion.

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