Saudi Energy Company announced on May 6 its financial results for the first quarter ended March 31, 2026, reporting a year-on-year operating revenue increase of 9.4 percent to SAR 21.3 billion and a net profit surge of 89.3 percent to SAR 1.8 billion.
The company said this performance was driven by growth in its regulated asset base and improved operational efficiency, reflecting ongoing strategic investments and disciplined execution to support the Kingdom’s energy transition and meet rising demand.
Operating profit reached SAR 3.2 billion for the quarter, up by more than one-third compared to the previous year, while gross profit grew by over thirty percent to SAR 3.8 billion as margins expanded. Saudi Energy’s power generation capacity increased to 56.9 gigawatts following expansion and automation efforts in its transmission and distribution network, now serving approximately 11.6 million customers.
Commenting on these results set, Eng. Khalid bin Salem Al-Ghamdi, CEO of Saudi Energy, said: “Electricity demand in the Kingdom continues to rise, driven by economic diversification, mega-projects, population growth, and the transition towards a more diversified energy mix. Saudi Energy supports this growth by developing essential electricity grid infrastructure, enhancing its resilience, improving reliability, and raising service standards for subscribers. The company’s strong financial and operational performance in the first quarter of 2026 was underpinned by the continued expansion of its regulated asset base, improved operational efficiency, and increased energy production capacity and operational availability.”
He added: “Energy is central to Saudi Vision 2030, a pillar of transformation and a key driver of prosperity. We are committed not only to building infrastructure but also to developing an integrated intelligent energy ecosystem that serves future generations supports long-term ambitions and delivers sustainable growth and lasting value for all stakeholders.”
During this period Saudi Energy’s General Assembly approved cash dividends totaling SAR 2.9 billion for fiscal year 2025 at SAR 0.70 per share reflecting stable cash flow generation supported by its business model while maintaining balanced capital allocation.
The company maintained what it described as a strong financial position through diversified funding sources including completion of a USD 2.4 billion triple-tranche senior unsecured Sukuk issuance under its international program as well as securing a SAR 16 billion Shari’ah-compliant Murabaha facility used partly for refinancing existing debt obligations.
Strategic investments during Q1 included acquiring minority equity stakes in Kraken Midco—a digital platform provider—and National Innovation Industrial Company (NAMI), which specializes in advanced manufacturing technologies such as three-dimensional printing; additionally establishing Masarat Alistithmar AlMustadam subsidiary focused on non-regulated business opportunities aimed at long-term shareholder value creation.
Operationally Saudi Energy reported progress on projects adding an additional planned pipeline capacity of twenty-four gigawatts through plant expansions partnerships conversion initiatives from liquid fuels into natural gas rehabilitation programs among others—all supporting reliability during peak periods—with plant availability improving from last year’s levels.
