Riyadh – Mubasher: The Power and Water Utility Company for Jubail and Yanbu (Marafiq) witnessed a remarkable 2,520.58% leap in net profit to SAR 449.43 million in 2025 compared to SAR 17.15 million in 2024.
Commenting on the significant increase in profits, the CEO of Marafiq, Mohammed Berki Al Zuabi, stated that it “is mainly attributed to strong operational performance and higher sales volumes from the water, power, and gas segments. Despite this increase, the company’s results were impacted by higher operating costs, with fuel costs increasing by SAR 515.71 million and power and water purchase costs rising by SAR 151.03 million.”
The earnings per share (EPS) also jumped by 2,471.43% to SAR 1.80 in 2025 from SAR 0.07 in the previous year, according to the income statement.
In response to the rise of fuel costs, “the company initiated a comprehensive expenditure optimization program designed to enhance operational efficiency and mitigate cost escalation. This program encompasses the restructuring and renegotiation of service contracts, rationalization of administrative spending, leveraging of economies of scale, and the adoption of a repair-over-replace strategy aimed at reducing capital outlays,” according to Al Zuabi.
He added: “These measures are expected to positively influence financial performance during the 2025–2026 period, reinforcing the company's financial resilience and supporting improved profitability margins.”
Marafiq further generated revenue worth SAR 6.94 billion in 2025, signaling a growth of 0.91% from SAR 6.88 billion.
The annual surge in total revenue was driven by higher sales volumes across all segments, representing an increase of 6.84% in overall demand on an annual basis. In 2025, the power segment demonstrated strong demand growth of 10.54%, which was offset by a one-off adjustment related to High Intensity Electricity Consumption Tariff (HIECT).
CEO Al Zuabi further said: “During the year, the company maintained its trajectory of expansion through the Build-Own-Operate (BOO) and Build-Own-Operate-Transfer (BOOT) project models, advancing the development of several strategic assets. Notable among these is the Jeddah Independent Sewage Treatment Plant (ISTP), the Al-Hair Independent Sewage Treatment Plant (ISTP), and the Industrial Wastewater Treatment and Reuse Facility for the Amiral Project (IWTP).”
The CEO concluded: “The company reaffirms its unwavering commitment to maximizing shareholder value, fostering sustainable economic impact, and strengthening its competitive position through innovation and operational excellence.”
Dividends Payout
The board of Marafiq decided to distribute a total cash dividend of SAR 450 million for the second half (H2) of 2025.
The company will pay out SAR 1.80 per share, accounting for 18% of the share par value, for 250 million eligible shares.
Marafiq noted that the eligibility and payment dates will be 10 and 31 March 2026, respectively.
In the first nine months (9M) of 2025, the Saudi listed company generated net profits worth SAR 398.21 million and revenue of SAR 5.10 billion.
