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ACWA POWER Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 6,297,298 | 6,095,010 | 3.32 | ||
| Gross Profit (Loss) | 3,330,590 | 3,495,180 | -4.71 | ||
| Operational Profit (Loss) | 2,982,990 | 2,980,885 | 0.07 | ||
| Net profit (Loss) | 1,757,057 | 1,661,714 | 5.74 | ||
| Total Comprehensive Income | 3,021,854 | 1,104,884 | 173.5 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 21,859,085 | 19,157,958 | 14.1 | ||
| Profit (Loss) per Share | 2.4 | 2.27 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | ||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Consolidated revenues for the year ended 2024 were 3.3% than those of the year ended 2023, mainly due to: • (1) Higher operation and maintenance revenue • (2) Higher revenue from sale of electricity. partially offset mainly by • (1) lower services income from the projects. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Consolidated net profit attributable to equity holders of the parent for the year ended 2024 increased by 5.7% compared to the year ended 2023, primarily due to: • (1) Higher share in net results of equity accounted investees • (2) Gain from capital recycling • (3) Higher net finance income Which are partially offset mainly by: • (1) lower gross profit on account of higher operating costs • (2) Higher project development costs on account of increased business development activity • (3) Higher general & administrative expenses in parallel with accelerated growth |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Not applicable |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to conform with the presentation in the current period |
| Additional Information | A comprehensive Investor Report comprising the Company’s consolidated financial statements and the independent auditor’s review report for the year ended 31 December 2024, along with the CEO’s letter to shareholders and a management discussion and analysis of the financial results, is available on ACWA’s Power’s Investor Relations website at https://acwapower.com/en/investor-relations/overview/ . The company will hold an investor conference call on 25 February 2025 at 16:00 KSA time, (13:00 GMT) following the close of trading on Tadawul. |
| Attached Documents |  |
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.
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