The Saudi -“Aqua Power” business performed better than the average expectations of analysts during the first quarter of 2025, registering the net profits of 427.2 million rows, compared to Bloomberg estimates of 358 million Riyale. The company said in a statement on the Saudi Stock Exchange website “Tadawul” that its profits have grown at 44.2% on an annual base, with the support of the increase in revenues at 57.2%, and the increase of other operating revenues, as well as the value of the value to 7.4 Million Riyals during the first quarter of 2025, compared to 145.8 Million Riyals during the similar period of the previous year, and the increase in the deferred tax balance. Aqua Power is the largest private water business in the world. It also leads to green energy and hydrogen transformation projects in the region, and has a portfolio of 101 projects in 14 countries, and is also owned by the Public Investment Fund, the Saudi Sovereign Fund with 44.2%. During the first quarter of the year, the company signed two energy purchase agreements and another to buy water, and he acquired interests in four existing projects in Kuwait and Bahrain, which added 9.7 GB of energy and 1.4 million cubic meters of water per day for its operating capacity. It also introduced 3.15 GB of energy into the initial or commercial operation.
Aqua Power is better than expectations thanks to a jump in income and falling allocations
