Revenue & Gross Margin: Revenue declined 5.1% to KES 219.3B (FY2024: KES 231.1B) due to lower tariffs and reduced forex recoveries following shilling stability. Gross profit fell 7.3% to KES 74.6B, with a gross margin of 34.0%, slightly down from 34.8% last year. Total electricity sales rose 8% to 11,403 GWh, supported by increased customer uptake and sustained demand.
Cost & Efficiency Gains: Cost of sales eased 3.9% to KES 144.7B, reflecting efficiency gains and lower forex-linked power purchase costs. Operating expenses dropped 8.3% to KES 42.4B, supported by refined IFRS 9 provisioning and tighter expense control.
Operating & Net Profit: Operating profit decreased 4.9% to KES 39.5B, maintaining a solid operating margin of 18.0%. Profit before tax fell 19.0% to KES 35.4B, and profit after tax declined 18.7% to KES 24.5B, translating to a net margin of 11.2% (FY2024: 13.0%).
Finance Costs & Debt Reduction: Finance costs surged to KES 4.7B from a net gain of KES 0.7B the previous year, as prior forex gains reversed with the stronger shilling. Despite this, interest expenses dropped KES 2.6B after an 11% reduction in the loan book to KES 87.6B, reflecting accelerated repayments and improved leverage.

Liquidity & Cash Flow: Working capital deficit narrowed 30% to KES 19.2B (FY2024: KES 27.4B), driven by disciplined liquidity management. Cash generated from operations jumped 40% to KES 39.8B, underlining stronger cash efficiency.
Balance Sheet Strength: Total assets increased 8.6% to KES 389B, while shareholders’ equity rose 25.2% to KES 109.3B, signaling improved solvency and capital strength.
Dividends & Shareholder Value: The Board proposed a final dividend of KES 0.80 per share, bringing the total payout to KES 1.00 per share including the interim KES 0.20, reflecting confidence in the company’s financial resilience.
Outlook: Kenya Power plans to sustain efficiency through grid modernization, digital transformation, and loss reduction, targeting improved reliability, revenue assurance, and long-term shareholder value. Management expects continued benefits from the government’s push for lower electricity tariffs, which are boosting consumption volumes.
Share Price Reaction: KPLC’s share price slipped 3.6% today to KES 14.60, reflecting light profit-taking after a strong rally, but the stock remains one of the NSE’s top performers — up 10% this week, 43% in three months, and a remarkable 328% over the past year (215% year-to-date) — lifting its market capitalization to KES 29.6 billion