JD14.2M Total Net Profit For Electricity Distribution - EDCO

(MENAFN- Jordan Times) AMMAN - The Electricity Distribution Company (EDCO) achieved a net profit of JD14.2 million for the fiscal year 2025, compared with JD15.4 million in 2024, the company announced on Wednesday.

The reported earnings include revenues from EDCO's 55.5 per cent stake in the Irbid District Electricity Company (IDECO).

According to a company statement, EDCO successfully bolstered its profits from non-core activities, which reached approximately JD6.5 million in 2025, a 51 per cent increase compared with 2024.

The figures were disclosed during a General Assembly meeting attended by the Companies Controller representative, Fares Shahin, EDCO Chairman Hazem Rahahleh, board members, and Director General Reem Hamdan. During the session, the assembly ratified the administrative and financial reports for 2025.

The company demonstrated significant progress in debt recovery, reducing outstanding dues from individuals and private institutions by 15 per cent, falling from JD92 million at the end of 2024 to JD78 million by late 2025.

Debt owed by government entities also decreased by 18 per cent, dropping from JD42 million to JD34 million.

Furthermore, receivables from the Water Authority of Jordan and Miyahuna fell by 31 per cent to JD53 million. Consequently, EDCO's total receivables saw a 19.7 per cent decline, standing at JD176.6 million in 2025 compared with JD219.8 million the previous year.

The statement noted that assets grew by 8 per cent to JD108 million, up from JD100 million in 2024, reflecting an expansion in the company's investments and operational assets.

Chairman Hazem Rahahleh said that the board, in coordination with the executive management, has focused on balancing financial sustainability with operational efficiency and digital transformation.

He added that these efforts align with international best practices and the requirements of distribution and retail supply licences.

Rahahleh highlighted that the company is currently upgrading its electronic systems using local expertise.

He noted that 2025 witnessed a tangible expansion in grid capacity, with the number of operating transformer stations reaching 7,744, boasting a total capacity of 4,016MVA. This expansion has enhanced the network's readiness to meet load growth and improved supply reliability across concession areas, according to EDCO statement.

The Chairman also emphasised that fundamental reforms were implemented in 2025, including the modernisation of internal regulations and policies.

He concluded by revealing that the company has commenced drafting its 2026–2029 strategic plan to further enhance institutional efficiency and governance.

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