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Press Dossier    By Date   02/03/2023 ACWA Power’s net profit zooms 103% to $411m in 2022

Arab News, Thursday, Mar 02, 2023 | Sha'ban 10, 1444

ACWA Power’s net profit zooms 103% to $411m in 2022

Saudi Arabia: Saudi Arabia’s utility service provider ACWA Power has reported a net profit of SR1.5 billion ($411 million) in 2022, up 103 percent from the previous year, according to a bourse filing. 

In 2021, the PIF-backed firm reported a net profit of SR758.8 million. 

The bourse filing further noted that the company’s fourth-quarter net profit after Zakat and tax surged 94 percent to SR656.6 million, compared to SR 338.85 million in the prior-year period. 

Compared to the third quarter of 2022, ACWA Power’s net profit climbed 92.2 percent from SR 341.70 million. 

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