Riyadh - Mubasher: Electrical Industries Company (EIC) reported a 54.72% surge in net profit for the second quarter (Q2) of 2026, reaching SAR 211.53 million when compared to SAR 136.72 million in Q2-25.
The growth was primarily driven by a surge in demand for high-voltage and industrial projects across Saudi Arabia, particularly within the oil and gas sector, alongside a rise in exports.
Quarterly revenue hiked by 33.35% to SAR 708.57 million from SAR 531.36 million a year earlier. The company attributed the improved bottom line to a diversified product mix and higher sales of products with superior profit margins, which offset rising selling, distribution, and financing costs.
For the first six months (6M) of 2026, net profit climbed by 54.64% to SAR 402.30 million, while total revenues hit SAR 1.37 billion.
Earnings per share (EPS) improved to SAR 0.36 in the first half (H1) of 2026 from SAR 0.23 a year earlier.
Total shareholders' equity stood at SAR 1.28 billion as of 30 June 2026. The company noted that current financial results do not include a SAR 26.10 million refund from the General Authority for Competition, which is expected to be recognized in Q3-26.
EIC recorded 54.55% YoY higher profits at SAR 190.77 million in Q1-26 when compared to SAR 123.43 million.
