Saudi-listed ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, today announced its consolidated financial results for the nine months ended 30 September 2024.
Operating income before impairment losses and other expenses reached SAR 2,365 million, 12.5% higher compared to the same period in 2023 mainly on account of an investment gain in restructuring of a project, along with a capital recycling gain. The Company’s net profit—attributable to equity holders of the parent—reached SAR 1,255 million for the period, 16% higher compared to the same period in 2023 mainly on account of higher operating income partially offset by mainly the impairment loss in a long, forced outage unit.
Marco Arcelli, Chief Executive Officer of ACWA Power, said: „The 26 projects currently in our construction portfolio, the largest in our 20-year history, demonstrates both the speed in realizing our growth through swift financial closes and on the other hand the scale of future cash flows from a robust, diversified and young portfolio.“