Earnings Report /
Saudi Arabia

Saudi Electricity: Highest quarterly earnings on record

  • Revenues stood at SAR22.04bn in Q3 21, up 7.4% yoy (+16.4% qoq) and were slightly lower than estimates of SAR23.01bn

  • Gross profit stood at SAR8.80bn in Q3 21 vs SAR3.34bn and SAR6.81bn in Q3 20 and Q2 21 respectively

  • Operating profit stood at SAR7.99bn in Q3 21, up 137% yoy (+23.6% qoq), vs our estimates of SAR9.44bn

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
7 November 2021
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