MARAFIQ 2024 Profits Drop 97% to SAR 17 Million

The Power and Water Utility Co. (MARAFIQ) announced on Monday that its net profit in Jubail and Yanbu decreased by the end of 2024 to SAR 17 million, compared to SAR 587 million in 2023 by 97%, following the announcement today of the annual financial results ending on Dec. 31, 2024.

The operational profit decreased by 41% to SAR 948 million by the end of 2024, compared to SAR 1.5 billion in 2023.

The total equity (after excluding non-controlling interests) in the current year decreased by 6% to SAR 5.2 billion, compared to SAR 5.5 billion in the previous year.

The profits per share in the current year amounted to SAR 0.07, compared to SAR 2.35 in the previous year.