Riyadh - Mubasher: Electrical Industries Company (EIC) has successfully recovered a fine totaling SAR 26.10 million from the General Authority for Competition (GAC).

The payment, received on 14 July 2026, follows a legal process involving two of the company’s subsidiaries, according to a bourse filing.

The recovery of funds stems from a ruling issued by the Administrative Court of Appeal on 7 July 2025, which upheld a previous Administrative Court decision to cancel two penalty resolutions issued by the Committee for Resolution of Competition Law Violations.

The company had previously disclosed these legal developments to shareholders on 23 July 2025.

Management confirmed that the receipt of the SAR 26.10 million will have a positive impact on the financial results of EIC for 2026.

The reclaimed amount represents the full value of the fines originally contested by the subsidiaries in the litigation against the General Authority for Competition.

In the first quarter (Q1) of 2026, EIC logged net profits valued at SAR 190.77 million, an annual leap of 54.55% from SAR 123.43 million.