Saudi Energy’s nine-month (9M) year-on-year revenue grew 11.5% to SR87.2 billion ($23.2 billion), while EBITDA rose 6.6% to SR34.7 billion and net profit increased 4.3% to SR12.1 billion ($2.22 billion).
The performance was supported by strategic investments and sustained operational excellence, enabling the kingdom’s energy transition and meeting growing demand, a Saudi Press Agency (SPA) report said.
Saudi Energy CEO Eng Khalid bin Salem AlGhamdi said the company continued to meet growing electricity demand while improving generation availability, network reliability and operational efficiency.
Achieving targets
He added that with 22 GWh of battery storage now energised, the company achieved its 2026 target, supporting grid flexibility and renewable integration.
Gross profit increased 6.8% to SR18.9 billion, and operating profit grew 4.7% to SR16.9 billion. In the third quarter, revenue rose 12.9% to SR35.0 billion and net profit increased 0.4% to SR5.4 billion.
Regulated asset base
The regulated asset base reached SR278.8 billion as of September 30, 2026, up 16.6% year on year. During the period, the company signed financing agreements of about SR64.4 billion, and its ratings were reaffirmed by Fitch (A+), S&P (A+), and Moody’s (Aa3), all with stable outlooks.
On the operational side, the kingdom’s peak load reached 79,045 MW, up 2.5% from the 2025 peak. Total generation capacity stood at 56.8 GW, plant availability improved to 90.5%, and grid-connected renewables reached about 19.3 GW. The customer base reached about 11.7 million, with 237,762 new connections.—TradeArabia News Service
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