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 |  |
Attachments
917_23875_2362_2025-02-25_01-21-24_en.pdf446_23875_2362_2025-02-25_01-21-32_en.pdf
