Riyadh – Mubasher: Acwa generated 28.14% year-on-year (YoY) lower net profits at SAR 653.17 million for the first half (H1) of 2026, compared to SAR 908.98 million.
The utility developer’s revenue rose by 8.61% to SAR 4.03 billion, driven by higher energy, operation, and maintenance income. However, operating profit fell by 34.57% to SAR 1.44 billion.
The company attributed the earnings decline to lower development and construction management fees resulting from project delays, alongside increased general and administrative expenses.
These factors were partially offset by a reduction in impairment losses and lower financing costs. Earnings per share (EPS) hit SAR 0.85, down from SAR 1.23 a year earlier.
For the second quarter (Q2) of 2026, net profit reached SAR 308.42 million, a 35.99% decrease from the SAR 481.83 million recorded in Q2-25. Quarterly revenue grew by 15.14% to SAR 2.01 billion.
As of 30 June 2026, total shareholders' equity reached SAR 30.04 billion, a 39.91% increase from the previous year. The company's total managed assets were valued at SAR 474.80 billion, covering 111 projects across 16 countries.
Samir J Serhan, CEO of Acwa, commented: “As we reached the midpoint of 2026, Acwa continued to navigate a global environment shaped by geopolitical uncertainty, market volatility, and evolving economic conditions across several of our core markets.”
He added: “While these dynamics affected the development pace of our pipeline during Q2 of 2026, they did not alter our direction. During the period, we added 5.20 GW of new power generation capacity and 0.6 million cubic meters per day of water desalination capacity to our development pipeline, further strengthening our long-term growth platform.”
“In July, we announced our proposed 2025 cash dividend and introduced our dividend program for the 2026-2030 period. Together, these demonstrate our commitment to delivering sustainable shareholder value, greater predictability, and disciplined capital allocation,” the CEO mentioned.
