Saudi Energy, previously known as Saudi Electricity, reported its financial results for 2025, showing significant growth in both revenue and profit. The company attributed this performance to increased power demand, expansion and modernization of the power grid, digital transformation initiatives, and operational improvements.
The company’s operating revenues reached SAR 102.2 billion in 2025, a 15.3% increase from SAR 88.7 billion in the previous year. This rise was mainly due to growth in the regulated asset base of the grid and higher electricity production revenue, as well as an expanding customer base.
Gross profit rose by 18.9% to SAR 20.8 billion compared to the previous year’s SAR 17.5 billion. Operating profit increased by 62.1% to SAR 19.1 billion, supported by higher revenues and profitability along with a comparison effect due to non-recurring expenses recorded in 2024 related to settlements on historical fuel and power pricing differences.
Net profit climbed to SAR 12.98 billion from SAR 6.87 billion in the prior year—an increase of nearly 89%. The company noted that while higher financing costs from funding capital expenditures partially offset gains, overall performance remained strong.
Excluding non-recurring items from the previous year, normalized operating profit grew by 12.4% and net profit by 7.4%. EBITDA for the year was SAR 41.5 billion, marking a yearly growth of just over ten percent.
During the year, Saudi Energy secured total financing of SAR 56 billion through various means including sukuk issuances and international facilities. Credit ratings agencies maintained or upgraded their ratings for Saudi Energy: S&P raised its rating to A+ with a stable outlook; Moody’s kept an Aa3 rating with a stable outlook; Fitch affirmed an A+ rating with a stable outlook.
Commenting on these results set, Eng. Khalid bin Salem Al-Ghamdi, CEO of Saudi Energy, said: “2025 was a year of operational excellence and strategic progress. Disciplined execution of our investments in the integrated energy infrastructure expanded our asset base, strengthened earnings growth, and reinforced our financial position, while enhancing the reliability of the energy system to unprecedented levels despite rising demand and increasing system complexity.”
He added: “We are building more than infrastructure – we are building a power system that will serve future generations, support the Kingdom’s long-term ambitions, and sustain economic growth for decades to come. We continue to develop high-quality CapEx pipelines aligned with a clear national vision supporting the Kingdom’s energy sector objectives. During 2025, we executed significant investments, the highest on record in the SE’s history, forming a foundation for high-quality growth in our asset base and business portfolio going forward. Furthermore, with our transition to Saudi Energy, we reaffirm our growing role as a key enabler of the integrated national energy system within a disciplined and supportive regulatory framework that delivers sustainable long-term value.”
Saudi Energy is working on generation projects totaling about 24 GW under development or execution as part of its strategy to boost capacity and reliability while improving its energy mix through both thermal and renewable sources as well as conversion programs from liquid fuels to natural gas.
In partnership efforts during 2025:
– The Saudi Energy–EDF Renewables consortium won rights for a new solar project.
– A Power Purchase Agreement was signed for Qurayyah IPP expansion.
– Two agreements were signed for converting Plants 13 and 14.
– Ten additional generation units were rehabilitated bringing rehabilitated units up to forty-five.
– Phase I conversion at PP10 finished; conversion started at Rabigh 2; plans were announced for five further plant conversions.
By end of year:
– Renewable capacity connected to grid reached over twelve gigawatts.
– Battery storage systems totaling eight GWh became operational with fourteen more GWh under development.
– Distribution automation reached nearly forty-one percent.
– Customer satisfaction stood at eighty-six percent.
– Reliability metrics improved: SAIDI dropped seven percent; SAIFI improved fifteen percent; average new connection time fell fourteen percent.
Peak load rose three percent during summer months reaching seventy-seven GW; total generation was about two hundred thirty-eight TWh (over half national output). About two hundred sixty thousand new customers joined service raising total served customers above eleven million five hundred thousand.
Transmission network length increased almost five percent; fiber optic network grew nine percent reaching over one hundred four kilometers each.
