IssuerAnnouncementDetailsV2Portlet
The Power and Water Utility Company for Jubail and Yanbu announces that it has received official notification about the increase in the prices of energy products used in production
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Announcement Detail | Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces that it has received an official notification from the Saudi Arabian Oil Company (Saudi Aramco) to increase the prices of energy products, starting from 01-01-2025. The Company would like to clarify to its valued shareholders that the expected financial impact of the increase in energy prices for the year 2025 is estimated to be 13.48 % in the total cost of sales, based on the Company’s latest audited annual financial statements of 2023. This impact is expected to appear starting from first quarter of the fiscal year 2025. It’s worth to mention that the company is working to mitigate the financial impact of this increase by enhancing production efficiency, plants reliability, optimizing asset use and reduce the company costs. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.