Amman: The Electricity Distribution Company recorded a net profit after tax of approximately JOD 15 million in 2024, up from JOD 10.55 million in 2023, according to financial statements disclosed during the company's ordinary and extraordinary general assembly meeting.
According to Jordan News Agency, the company's total assets reached around JOD 972 million by the end of 2024, compared to JOD 792 million at the close of 2023. The meeting was attended by Chairman of the Board of Directors Hazem Rahahleh and General Manager Reem Hamdan.
In a statement issued Monday, the company reviewed the progress made in 2024, underscoring its continued role in supplying electricity, a strategic commodity vital to multiple sectors while ensuring power continuity, reducing outages, and adhering to the performance standards set by the Energy and Minerals Regulatory Commission.
The General Assembly unanimously approved increasing the company's capital by JOD 4 million, raising it from JOD 21 million to JOD 25 million. The increase will be distributed as free shares to shareholders proportionate to their holdings, funded through retained earnings. Amendments to the company's articles of association and bylaws reflecting the capital increase were also ratified.
The company reported tangible progress in digital transformation initiatives. These include the implementation of an enterprise resource planning (ERP) system via the SAPS/4HANA platform, aimed at integrating data and accelerating decision-making. Additionally, efforts are underway to upgrade the human resources management system and adopt process automation to enhance employee engagement.
The company also adopted the Intalio platform to manage electronic correspondence, improving internal communication and reducing paper usage as part of e-governance efforts. In the area of cybersecurity, the company established a dedicated unit equipped with skilled personnel and advanced systems, including a cybersecurity operations center and sophisticated Security Information and Event Management (SIEM) systems to safeguard data and reinforce digital readiness.
Further developments include the launch of a smart electronic subscriber application, as well as a 24/7 unified automated response center (113), aimed at enhancing service delivery and response times. Improvements extended to modernizing subscriber service and field offices, aligning them with the corporate identity and achieving measurable results, including a 0.5 percent reduction in electricity loss and an increase in the collection rate of regular subscribers' bills to over 100 percent.
Rahahleh affirmed the company's commitment to advancing strategic plans that enhance operational efficiency and transition toward a smart utility framework supported by cutting-edge infrastructure, in alignment with technological advancements and the interests of subscribers and shareholders. He stressed the continued delivery of high-quality electricity services as a cornerstone for supporting the national economy and sustaining productive and service sectors.
Reflecting on the financial and operational outcomes, Rahahleh said they demonstrate the soundness of the company's policies and strategic direction. He extended gratitude to former Chairman Samir Murad for his contributions, which he said laid the groundwork for ongoing institutional success. He also praised the company's workforce, affirming his commitment to teamwork and further progress.
For her part, Hamdan credited the achievements to the employees' dedication to continuous development and teamwork. She affirmed the company's vision of becoming a fully digital institution that delivers efficient, responsive, and customer-focused services. Hamdan added that digital initiatives such as the SAPS/4HANA platform, the subscriber app, and the automated response center have enhanced service quality and communication, marking a qualitative leap in customer relations.
She underlined the company's ongoing efforts to upgrade both technical and administrative infrastructure, with a focus on meeting citizens' expectations and maintaining adherence to performance and quality standards. Hamdan also highlighted the importance of strengthening the internal work environment, referencing ongoing upgrades to offices and field centers to enhance the experience for visitors and users.