Saudi Arabia · Delayed Price · Currency is SAR ACWA Power Company Earnings Call Transcripts
Fiscal Year 2026
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H1 2026 saw strong operational performance and strategic milestones, including exclusive rights for Saudi green fuels export and U.S. market entry, despite lower operating and net income due to timing shifts and outages. Long-term growth outlook remains robust, with a strong project pipeline and new dividend framework.
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Q1 2026 saw resilient operations and strong safety, but operating and net income declined year-over-year due to lower development revenues and deferred tax impacts. The company remains confident in its 2030 growth targets, with a robust project pipeline and improved ESG ratings.
Fiscal Year 2025
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2025 saw record growth in operating income, project financing, and capacity expansion, with a smooth CEO transition and robust risk management amid geopolitical tensions. The company remains on track for its 2030 targets, prioritizing reinvestment and operational excellence.
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Operating income and adjusted net income surged nearly 60% year-over-year, supported by a record $1.9 billion capital raise and major project wins, including a 15 GW PPA and international expansion. Net debt to POCF remains high amid rapid growth, with strategies in place to manage leverage.
Fiscal Year 2024
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Portfolio grew by 14.3 GW and 0.4 million m³/day desalination, with net income up 6% year-over-year and adjusted net income at SAR 1.3 billion. Capital recycling, new markets, and cost optimization drive future growth, with a SAR 250 billion AUM target by 2030.
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Solid H1 2024 results with 7.8% operating income growth and nearly SAR 1 billion net income, driven by portfolio expansion and project milestones. A $1.9 billion capital increase is planned to support ambitious growth, with leverage and cash flow metrics within guidance.