Kenya Power has announced a net profit of Ksh. 24.47 billion for the financial year ended 2025. This is a 18.7% decline from the previous year’s Ksh. 30.08 billion that was declared in a previous period in 2024.

The company attributed the dip primarily to the absence of significant one-off foreign exchange gains that had inflated the 2024 earnings.

Despite the year on year drop, the Ksh. 24.5 billion profit is viewed as a testament to the company’s sustained operational turnaround and recovery, remaining at least three times higher than any profit recorded in the years prior to 2024.

A major highlight of the results is the significant strengthening of the company’s financial structure. Shareholders’ equity surged by 25% to reach Ksh. 109.34 billion, placing Kenya Power in the country’s coveted Ksh 100 billion equity tier for the first time.

Total assets also expanded by 8.6% to Ksh 389.04 billion, driven by ongoing investments in the grid. Furthermore, non-current liabilities eased by 1.8%, and the working-capital deficit narrowed due to improved receivable collection.

The company reported improved operational metrics despite the profit decline. Operating cash flows strengthened by 40% to Ksh 39.77 billion, providing a robust foundation for capital expenditure and partial debt repayment.

  • Revenue Decline: Overall revenue declined by 5.1% to Ksh 219.29 billion, the first year-on-year fall since 2013. This drop was a result of reduced forex recoveries and a partial roll-back of tariffs introduced in 2023, which offset a strong increase in electricity sales (887 GWh growth).
  • Efficiency Gains: Average system efficiency improved to 78.79% from 76.84%, reflecting lower technical and commercial losses. Operating expenses also dropped, driven by tighter cost controls and reduced credit-loss provisions.
  • Capital Expenditure: Kenya Power remains focused on modernization, investing KSh 29.6 billion in network projects, substations, and automation, a notable increase from the KSh 24.9 billion spent the previous year.

The board declared a final dividend of Ksh. 0.80 per share, which, combined with the interim payout, brings the total dividend to Ksh. 1.00 per share for the financial year.