Saudi Arabia’s Electrical Industries Co. said its net profit attributable to shareholders rose 10.3% to SR177.7 million in the third quarter of 2026, from SR161.1 million a year earlier.
Sales rose 12.6% to SR630.5 million in the three months to September 30, from SR560 million, the company said in a filing on the Saudi Exchange on Thursday.
The company said demand rose across all sectors in the kingdom, particularly for high-voltage substation projects, infrastructure projects and new industrial projects, including in oil and gas.
Profit was also helped by a more diversified product mix with some higher-margin products, and by the recovery of a fine the company had paid to the General Authority for Competition. The Administrative Court of Appeal ruled in the company’s favor. Higher finance costs partly offset the gains.
Gross profit fell 4.3% to SR213.9 million, and operating profit slipped 1.1% to SR171.2 million.
Compared with the second quarter, net profit fell 16% from SR211.5 million and sales fell 11%. The company blamed delays in project deliveries, higher shipping and insurance costs and supply chain disruptions linked to the geopolitical situation.
For the first nine months of the year, net profit rose 37.7% to SR580 million and sales rose 25.2% to SR2 billion. Earnings per share for the period were SR0.52, up from SR0.38.
