Riyadh – Mubasher: Acwa recorded net profits attributable to shareholders worth SAR 344.75 million in the first quarter (Q1) of 2026, marking an annual drop of 19.28% from SAR 427.15 million.
The revenues totaled SAR 2.02 billion in Q1-26, up 2.79% year-on-year (YoY) from SAR 1.96 billion, according to the interim financial results.
Meanwhile, the earnings per share (EPS) fell to SAR 0.45 at the end of March 2026 from SAR 0.58 in Q1-25.
The quarterly profits shrank by 39.73% from SAR 572.08 million in Q4-25, while the revenues went down by 0.83% from SAR 2.03 billion.
During the first three months (3M) of 2026, the company maintained the growth of its asset base, with a total of 109 assets in operation, advanced development, or under construction, to the value of SAR 455 billion, up 12.90% YoY from SAR 403 billion.
Water desalination capacity reached 9.70 million cubic meters per day, while battery energy storage system (BESS) capacity stood at 5.60 GWh.
CEO of Acwa, Samir J Serhan, said: “Acwa entered 2026 with clear priorities around operational and capital discipline and the continued advancement of our growth strategy. The heightened geopolitical tensions across the region have introduced a level of uncertainty but it did not result in material adverse impact on our financial results and operating performance in Q1.”
“Business development delivered Acwa’s first greenfield project in Kuwait, adding a combined total capacity of 2.70 GW of power generation and 0.6 million cubic meters per day of desalinated water,” Serhan indicated.
He added: “The Nukus 2 wind project in Uzbekistan reached financial close, with an investment value of SAR 1 billion, further strengthening its long-term contracted revenue base.”
In 2025, Acwa logged net profits valued at SAR 1.85 billion, whereas the revenues hit SAR 7.41 billion.
