Kenya Electricity Generating Company (KenGen) has reported a 54 per cent rise in profit after tax to Sh10.48 billion for the year ended June 2025 from Sh6.8 billion posted last year. This was due to lower operating costs which dropped by Sh4.2 billion largely driven by lower depreciation & amortization and lower overhead costs. Total revenue declined slightly by Sh199 million to Sh56.1 billion due to lower geothermal and steam revenues.
The company generated generated 8,482 GWh during the year, an increase of 1% from 8,383 GWh in 2024. This growth was primarily driven by the resumption of operations at Muhoroni Power Plant and favorable hydrological conditions.
The company said in the commentary accompanying the results:
“Operating expenses decreased by 11% from Sh39,318 million to Sh35,138 million, reflecting impact of cost optimization initiatives. This reduction was primarily driven by lower depreciation and amortization charges, and a decline in overhead costs resulting from continued implementation of efficiency measures.”
Finance costs declined by 20 per cent from Sh2.8 billion reported last year to Sh2.25 billion as the company continued to repay its loan. The company posted net foreign exchange and fair valuation gains of Sh1.45 billion due to strengthening of the Kenyan Shilling.
The profit growth prompted the company to raise its dividend by 38.5 per cent, from Sh0.65 per share last year to Sh0.90 per share, to be paid on or about 12th February 2026 to shareholders on the register at the close of business on 27th November 2025.
The company has scheduled its Annual General Meeting to be held virtually on 27th November 2025.
