ACWA Power’s Net Profit Rises to SAR 1.75 Billion by End of 2024, Up 6%

ACWA Power announced that its net profit grew by 6% to SAR 1.75 billion in 2024, compared to SAR 1.66 billion in the previous year, following the release of its preliminary financial results for the period ending December 31, 2024.

The company’s operating profit increased slightly by 0.07% to SAR 2.98 billion, compared to SAR 2.9 billion in 2023.

Equity (excluding non-controlling interests) stood at SAR 21.85 billion, reflecting a 14% increase from SAR 19.15 billion in 2023.

Earnings per share (EPS) for the current year rose to SAR 2.4, compared to SAR 2.27 last year.

In a statement on Tadawul, ACWA Power attributed its 3.3% year-over-year increase in consolidated revenues to:

• Higher operation and maintenance revenue.
• Higher revenue from the sale of electricity.