Saudi Energy Co. (5110)

• Stock
• Company Profile
• News
• Announcements
• Fair Values
• Corporate Actions
• Earning Announcements
• News Reports
• Major Shareholders
• Volume Statistics
• Financial Ratios
• IPOs
• Financial Statements
• Support and resistance
• More

News

24 August 2022 01:02 PM SEC posts lower profits at SAR 7bn in H1-22 initial financials

Riyadh – Mubasher: Saudi Electricity Company (SEC) has generated net profits after Zakat and tax worth SAR 7.02 billion in the first half (H1) of 2022, lower by 6.61% than SAR 7.51 billion in H1-21. Revenues went up by 3.14% year-on-year (YoY) to …

Financial Results

11 August 2022 07:54 AM SEC secures $567.5m loan for electricity interconnection project with Egypt

Riyadh – Mubasher: Saudi Electricity Company (SEC) penned a facility agreement with Standard Chartered Bank and Sumitomo Mitsui Banking Corporation for $567.50 million. The 14-year loan will be used to partially finance the Saudi - Egypt …

Companies Investments

26 June 2022 04:15 PM Tadawul to launch Single Stock Futures in July; 10 listed firms chosen

Riyadh – Mubasher: The Saudi Exchange (Tadawul) will launch Single Stock Futures (SSFs) contracts on 4 July this year to enable the expansion of its Derivatives Market and products. The first tranche of the SSFs will be based on 10 listed …

Global Economy

20 June 2022 01:57 PM SEC names Algnoon as new CEO

Riyadh – Mubasher: Saudi Electricity Company (SEC) has appointed Khalid Hamad Algnoon as the new CEO of the company. Algnoon officially assumed his position on 20 June this year, according to a recent bourse filing. Moreover, the new CEO holds a …

Management Decisions

18 May 2022 03:21 PM SEC’s profits slide 10% in Q1-22 initial results; dividends announced

Riyadh – Mubasher: Saudi Electricity Company (SEC) has achieved net profits after Zakat and tax worth SAR 1.51 billion in the January-March 2022 period, an annual decline of 10.18% from SAR 1.68 billion. The company’s revenues grew by 1.37% to SAR …

Financial Results

25 April 2022 02:26 PM SEC plans redemption of SAR 5.73bn Sukuk

Riyadh – Mubasher: Saudi Electricity Company (SEC) intends to fully redeem its local Islamic Sukuk at a value of SAR 5.73 billion on 10 May this year. A total of 573,069 Sukuk notes, which had been issued on 10 May 2010, will be redeemed at a par …

Companies Investments

5 April 2022 03:37 PM SEC completes redemption of $1.25bn Sukuk

Riyadh – Mubasher: Saudi Electricity Company (SEC) has fully redeemed $1.25 billion worth of the second tranche of its international Islamic Sukuk which had been issued on 3 April 2012. Listed on London Stock Exchange (LSE), a total of 6,250 Sukuk …

Sukuk and Islamic Finance

16 March 2022 10:42 AM SEC’s profits leap 375.5% in 2021; dividends proposed

Riyadh – Mubasher: Saudi Electricity Company (SEC) has recorded net profits after Zakat and tax worth SAR 14.39 billion last year, a year-on-year (YoY) jump of 375.57% from SAR 3.02 billion. The revenues went up 0.91%, reaching SAR 69.33 billion …

Board of Directors

29 November 2021 11:21 AM SEC’s subsidiary to be wholly owned by Saudi government

Riyadh – Mubasher: The ownership of the Saudi Power Procurement Company, a subsidiary of the Saudi Electricity Company (SEC), will be transferred to the Saudi government upon a Cabinet’s resolution. Accordingly, SEC’s entire equity in the Saudi …

Utilities

7 November 2021 09:56 AM SEC turns to profitability in 9M amid reforms in electricity sector

Riyadh – Mubasher: Saudi Electricity Company (SEC) has achieved net profits after zakat and tax of SAR 14.897 billion in the first nine months of 2021, against net losses of SAR 1.109 billion in the same period of 2020. The company has turned to …

Financial Results

5 October 2021 10:22 AM Egypt, Saudi Arabia ink electricity interconnection contracts

Cairo – Mubasher: Egyptian Electricity Transmission Co and Saudi Electricity Company have signed contracts for the electricity interconnection project.  The project will link between the largest electricity networks in the region which will see …

Macroeconomics

8 September 2021 07:00 AM SEC obtains $2.5bn revolving loan

Riyadh – Mubasher: Saudi Electricity Company (SEC) has signed a USD-denominated revolving credit facility agreement worth $2.57 billion. The loan duration stands at three years starting from the date of obtaining the funding on 8 September 2021, …

Banking and Finance

8 August 2021 10:07 AM SEC turns to profits of SAR 7.5bn in H1-21

Riyadh – Mubasher: Saudi Electricity Company (SEC) achieved net profits after Zakat and tax worth SAR 7.51 billion in the first half (H1) of 2021, against losses worth SAR 3.31 billion in H1-20. Earnings per share stood at SAR 0.89 in H1-21, …

Financial Results

8 July 2021 10:58 AM SEC secures $500m green loan

Riyadh – Mubasher: Saudi Electricity Company (SEC) has obtained on 7 July green credit facility worth $500 million under The Japan Bank for International Cooperation’s (JBIC) GREEN operations. The 12-year funding aims to finance SEC’s transmission …

Banking and Finance

7 June 2021 08:37 AM SEC says CEO resigns, Al Gnoon assumes position

Riyadh – Mubasher: Saudi Electricity Company (SEC) has announced the resignation of its CEO Fahad bin Hussein Al Sudairi as of 7 June 2021 due to personal reasons, according to a bourse disclosure on Monday. SEC has assigned the CEO …

Board of Directors

5 May 2021 10:13 AM SEC turns profitable in Q1-21

Riyadh – Mubasher: The Saudi Electricity Company (SEC) achieved a consolidated net profit after Zakat and tax worth SAR 1.68 billion during the first quarter (Q1) of 2021, against a net loss of SAR 2.44 billion in Q1-20. SEC’s loss per share stood …

Financial Results

28 April 2021 07:18 AM SEC’s shareholders nod to SAR 2.91bn dividends for 2020

Riyadh – Mubasher: The shareholders of the Saudi Electricity Company (SEC) agreed to distribute cash dividends worth SAR 2.91 billion for 2020, according to a disclosure to Tadawul on Wednesday. The company will pay SAR 0.7 per share, which …

Cash Dividends

30 March 2021 08:20 AM SEC's net profits jump 118% in 2020; dividends proposed

Riyadh – Mubasher: The net profits after zakat and tax of Saudi Electricity Company (SEC) hiked by 118.011% to SAR 3.026 billion in 2020 from SAR 1.388 billion in 2019. Higher net profits are mainly attributed to an increase in operating revenues …

Cash Dividends

24 January 2021 09:42 AM SEC names new board chairman, deputy chairman

Riyadh – Mubasher: The Saudi Electricity Company (SEC) said its board of directors has appointed Khalid bin Saleh Al-Sultan as the company’s chairman of the board and Najem bin Abdullah Alzaid as the deputy chairman. The current board was elected …

Management Decisions

28 December 2020 08:46 AM SEC EGM approves treating SAR 3.4bn dividends owed to Saudi Aramco

Riyadh – Mubasher: Saudi Electricity Company’s (SEC) extraordinary general assembly (EGM) approved to treat the SAR 3.351 billion worth of dividends owed by it to the Saudi Arabian Oil Company (Saudi Aramco) since SEC’s inception until the end of …

Management Decisions

26 November 2020 01:26 PM EIC, Bawan units pen SAR 166m deals with SEC

Riyadh – Mubasher: WESCOSA and the Saudi Transformers Company (STC), subsidiaries of Electrical Industries Company (EIC), signed agreements to supply Saudi Electricity Company (SEC) with electrical equipment. The total value of the deals, which …

Companies Investments

25 November 2020 01:12 PM Moody's raises SEC’s ratings to A1 on increased government support

Riyadh – Mubasher: Moody's Investors Service has upgraded the ratings of Saudi Electricity Company (SEC) to A1 from A2 due to increased government support. The outlook on all ratings is negative, reflecting the negative outlook on Saudi Arabia's …

Ratings

16 November 2020 10:00 AM SEC to reclassify SAR 168bn in gov’t liabilities into subordinated perpetual instrument

Riyadh – Mubasher: Saudi Electricity Company (SEC) has signed an agreement with the Saudi government to reclassify SEC’s net government liabilities of SAR 167.92 billion into a subordinated perpetual financial equity-like instrument with a …

Banking and Finance

16 November 2020 06:35 AM Bawan’s unit pens SAR 115m deal with SEC

Riyadh – Mubasher: A subsidiary of Bawan Company signed an agreement on 15 November to supply electrical unit substations to Saudi Electricity Company (SEC) for SAR 115 million. The deal was signed with United Technology of Electric Substations …

Companies Investments

15 November 2020 01:06 PM EIC’s units to supply electrical equipment to SEC for SAR 110m

Riyadh – Mubasher: Electrical Industries Company’s (EIC) subsidiaries, WESCOSA and the Saudi Transformers Company (STC), have inked optional supply agreements with the Saudi Electricity Company (SEC) to supply electrical equipment. The deals, …

Companies Investments