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 cash flow growth, but lower income due to project delays and outages. Strategic wins include exclusive green fuels export rights and U.S. market entry, with a robust project pipeline and improved dividend guidance.
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Q1 2026 saw resilient operations and strong safety, with operating and net income down year-over-year due to lower development revenues. The company advanced major projects, improved ESG ratings, and maintained a robust pipeline, while managing geopolitical and supply chain risks.
Fiscal Year 2025
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2025 saw accelerated growth, record project financing, and a 20% rise in operating income, with robust expansion in power and water capacity. Operational excellence, risk management, and a strong pipeline support the outlook, while capital recycling and reinvestment remain priorities.
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Operating income and adjusted net income surged nearly 60% year-over-year, driven by new project completions and a record SAR 7.125 billion capital raise. The company signed the world's largest single-block PPA and expanded internationally, while maintaining a strong investment pipeline and managing leverage through capital recycling and new financing strategies.
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 strong cash flow. Operational challenges were offset by capital recycling gains and expansion into new markets, supporting confidence in tripling AUM by 2030.
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Strong first-half 2024 results with 7.8% operating income growth and SAR 927 million net income, driven by project expansion and strategic divestments. Board approved a $1.9 billion capital increase to support ambitious growth, with leverage and cash flow metrics within guidance.