The Saudi Energy Company announced an 11.5 percent rise in revenue to SAR87.2 billion ($23 billion) for the first three quarters of 2026 compared to the previous year, with net profit increasing 4.3 percent to SAR12.1 billion ($3 billion), driven by strategic investments, an expanding regulated asset base, and ongoing operational enhancements.
EBITDA climbed 6.6 percent to SAR34.7 billion, gross profit increased 6.8 percent to SAR18.9 billion, and operating profit went up 4.7 percent to SAR16.9 billion. The outcomes indicate an increased revenue need related to the expansion of the firm’s regulated asset base, heightened project development and management efforts, and growth in its customer base.
Also Read: Vietnam, European Firms Seek to Boost Investment, Business Links
In the third quarter of 2026, Saudi Energy posted revenue of SAR35 billion, rising 12.9 percent compared to the previous year, and EBITDA grew by four percent to SAR13.3 billion. Quarterly net profit rose 0.4 percent to SAR5.4 billion, bolstered by greater gross profit, reduced expected credit loss provisions, and enhanced contributions from equity-accounted investments.
Capital expenditure stayed consistent at SAR59.6 billion in the first three quarters, not including particular accruals and transmission and distribution projects funded by customers. Investments aimed mainly at enhancing the transmission network, creating battery energy storage systems, upgrading generation infrastructure, and reinforcing distribution networks.
As of 30 September 2026, the regulated asset base of the company reached SAR278.8 billion, reflecting a 16.6 percent rise from the same timeframe last year. This included SAR173.5 billion in transmission assets and SAR105.3 billion in distribution assets. The growth signifies the launch of finished capital projects, enhancing the company's regulated infrastructure and aiding future revenue expansion.
Also Read: Kia to Invest $2.2 Billion in Gwangju for PBV Mobility Ecosystem
During the period, Saudi Energy obtained about SAR64.4 billion in financing agreements via sukuk, bilateral and syndicated facilities, along with funding from export credit agencies. In July, the firm secured a SAR15.8 billion Shariah-compliant Murabaha syndicated financing agreement with local banks. In August, it formed a partnership with Bpifrance Assurance Export, creating a financing structure of up to $3 billion aimed at supporting the expansion, modernization, and strategic procurement of electricity grids.
Fitch reaffirmed its credit rating at A+, S&P rated it A+, and Moody's assigned it Aa3, all reflecting stable outlooks. Moreover, its S&P Global Corporate Sustainability Assessment score rose to 68 in August 2026, up from 65 in 2025.
Also Read: Condor Developers Completes 85-Unit Residential Project in Dubai
Saudi Energy persisted in enhancing its power generation capability and electrical infrastructure to meet increasing demand and aid the Kingdom's developing energy composition. The maximum electricity demand hit 79,045 MW, rising 2.5 percent from last year's peak of 77,083 MW. Overall generation capacity reached 56.8 GW, and plant availability rose by one percentage point to 90.5 percent.
The company's electricity production rose by four percent to reach 198.2 TWh.
Via its development branch, the Energy Infrastructure Consortium Company (EICC), Saudi Energy oversees a development portfolio of around 25.5 GW, which includes projects it directly owns as well as joint ventures with independent power producers and battery storage.