EL7.AI
StocksMedium•29 October 2026•
4 min read

Nebras Energy raises third-quarter profit 25% as operating earnings climb 18% to 641 million riyals

Key Facts

1Earnings before interest, taxes, depreciation and amortization rose 18% to 641 million Qatari riyals in the third quarter, from 544 million a year earlier.
2Nine-month revenue increased 5% to 2.412 billion Qatari riyals, and net profit attributable to shareholders was 1.036 billion riyals.
3Facility E income in the third quarter was 76 million Qatari riyals, including an adjustment for the first half of 2026 and 2025.
4Power capacity under construction was 8.7 gigawatts, and water capacity was 110 million imperial gallons per day, on a gross basis.

Nebras Energy raised its net profit in the third quarter of 2026 by 25% year on year, as earnings before interest, taxes, depreciation and amortization rose to 641 million Qatari riyals from 544 million, an increase of 18%. The company’s results showed operating earnings growth outpacing the 2% rise in quarterly revenue, reflecting the role of associate and joint venture results in supporting performance. Nebras attributed revenue growth to higher electricity and water capacity charges and production revenue, partly offset by lower income from finance lease contracts. Higher gross profit and equity-accounted results also contributed to the increase in operating earnings, while lower other income and higher fuel costs limited the improvement. The board approved the nine-month results on October 25, 2026, chaired by Minister of State for Energy Affairs Saad bin Sherida Al Kaabi.

The company said the increase in quarterly net profit stemmed from improved results from associates and joint ventures, including income from the Facility E project, as well as the impact of a net foreign-exchange loss recorded in the third quarter of 2025. These factors were not fully reflected in the result, however, as they were offset by higher finance costs and income tax, and lower other income. The contrast between 2% revenue growth and 18% growth in operating earnings highlights the results’ reliance on contributions accounted for from investments, alongside direct operating activity. Facility E income in the third quarter was 76 million Qatari riyals and included a retroactive adjustment for the first half of 2026 and 2025. The inclusion of that adjustment means part of the project’s quarterly income relates to earlier periods, the company said in its results presentation.

For the nine months ended in September, revenue rose to 2.412 billion Qatari riyals from 2.289 billion, an increase of 5% year on year. Net profit attributable to the company’s shareholders was 1.036 billion riyals, compared with 1.027 billion in the corresponding period of 2025. The figures show that year-to-date revenue growth exceeded the quarterly increase recorded in the third quarter, while cumulative net profit remained close to its level a year earlier. Nebras also said electricity and water production rose 2% compared with 2025 in the first nine months. Qatar power plant availability was 98.1%, while water plant availability reached 99.4% through September 2026.

The results come as the company develops a portfolio of new power and water projects. Nebras said it had 8.7 gigawatts of power capacity and 110 million imperial gallons per day of water capacity under construction on a gross basis. The project list includes Facility E, the RAF Peaker II unit, Syrdarya II, Sukhna, and the Duqm and Misfah independent power plants. The projects under construction form part of an expansion portfolio combining power generation and water desalination, alongside the production growth recorded in the first nine months. Nebras set financial close for Facility E before the end of 2026 as a target, making completion of its financing one of the company’s upcoming priorities. The company did not specify a more precise timetable for financial close in its results presentation than before year-end.

Nebras said the board would continue to assess the company’s financial position, funding needs and market conditions when preparing its recommendation on year-end distributions. The assessment links the distribution decision to project financing requirements, including Facility E, which the company aims to bring to financial close before year-end. The company did not announce a final distribution recommendation in the information provided, but indicated the factors the board would consider in determining one. The project’s financial-close target remains the future timetable set out in the results presentation, alongside preparation of an annual distribution recommendation. The board approved the nine-month results on October 25, 2026.