MEED top 100 listed companies 2013: Utilities

01 April 2013

Although the utility firms on the list have failed to improve their position, the outlook is mainly positive

Four utility companies have made the MEED 100 list in 2013, with three of these slipping down the rankings from 2012.

Saudi Electricity Company (SEC) fell to number 10 in the rankings, down from seventh in 2012. However, despite the drop in market capitalisation, the outlook for SEC is positive, with the local NCB Capital predicting that the firm will record a 7.8 per cent year-on-year growth in 2013. The demand for power in Saudi Arabia will remain strong, with the population expected to grow at an average annual rate of more than 2 per cent over the next decade.

Qatar Electricity & Water Company (QEWC) slipped one place to 57 in this year’s table. The company’s market capitalisation dropped marginally to $3.6bn, from $3.7bn in 2012. QEWC is increasingly targeting international markets to generate growth. In early 2012, it acquired a 23 per cent stake in the Amman East power plant in Jordan and bid in consortium with Germany’s Siemens for the Hassyan independent water and power project in Dubai, which was subsequently cancelled.

Tehran’s Mapna Group fell to 92 in the MEED 100, from 85 in 2012. Its operations are overwhelmingly focused on its home market, and the market capitalisation drop from $2.6bn to $2.4bn is in line with the national projects market in 2013.

Abu Dhabi National Energy Company (Taqa) remains in position 100, but the outlook for the firm is positive as it seeks to expand abroad.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.