Review pending. Every figure has been checked against its cited source page in an AI-assisted source verification (7 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
KenGen
On this page
Company details
- Legal name
- Kenya Electricity Generating Company PLC
- Incorporated in
- Kenya
- Listing
- KEGN on the Nairobi Securities Exchange, active · ISIN KE0000000547 (observed 2026-10-07)
- Sector
- Electricity generation (our classification from the stated principal activity)
- Activity
- Generation and sale of electricity to Kenya Power from geothermal, hydro, thermal and wind plants.
- Financial year ends
- 30 June
Overview
Year ended 30 June 2025 · annual report, signed / final · source
Read with these figures
- Auditor's emphasis of matter. Year ended 30 June 2025: change in the depreciation estimate (a 10% residual value now assigned to depreciable assets), which lowered the depreciation charge and affected net book values (Auditor-General, p128).
Full wording and sources
Auditor's emphasis of matter
Emphasis of matter, year ended 30 June 2025 (Auditor-General, PDF p128, scanned): change in assets depreciation and net book value estimation — depreciation and amortisation fell to Kshs.14,484,645,000 (2024: Kshs.15,707,703,000) although asset cost at the start of the year rose to Kshs.472,659,536,000 (2024: Kshs.463,057,086,000); management assigned a residual value of 10% of cost to depreciable asset classes, a departure from prior years, which decreased the depreciation charge and significantly affected the net book value of the assets (note 15(a)). 'My opinion is not modified in respect of this matter.' The auditor describes a change in an accounting estimate (depreciation and net book value estimation); neither KenGen report labels any figure restated, and none is treated as restated here.
Source: KenGen Integrated Annual Report & Financial Statements 2025 (dated 2025-10-30)
-
Revenue
KES 56.1 billion
56,098,037 KES thousands · p136
−0.4% vs 2024
-
Operating profit / (loss)
KES 13.6 billion
13,616,549 KES thousands · p136
+42.6% vs 2024
-
Profit / (loss) for the year
KES 10.5 billion
10,481,077 KES thousands · p136
+54.2% vs 2024
-
Total assets
KES 506 billion
505,573,128 KES thousands · p138
+2.9% vs 2024
-
Total equity
KES 285 billion
284,543,829 KES thousands · p138
+2.3% vs 2024
-
Cash from operations
KES 30.6 billion
30,616,723 KES thousands · p140
−16.9% vs 2024
Large amounts are rounded for reading (KES million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in KES thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY to 30 Jun 2025 — annual report, signed / final; reported for the year · source
- FY to 30 Jun 2024 — annual report, signed / final; comparative in the FY to 30 Jun 2025 filing · source
- FY to 30 Jun 2023 — annual report, signed / final; comparative in the FY to 30 Jun 2024 filing · source
Income statement
| Line (as printed) | FY to 30 Jun 2025Annual reportreported for the year | FY to 30 Jun 2024Annual reportcomparative in FY to 30 Jun 2025 filing | FY to 30 Jun 2023Annual reportcomparative in FY to 30 Jun 2024 filing |
|---|---|---|---|
| Electricity revenue1 | 40,410,264 | 41,252,372 | 38,783,964 |
| Steam revenue2 | 5,644,330 | 6,875,964 | 6,129,269 |
| Fuel charge3 | 9,607,542 | 7,923,700 | 8,165,345 |
| Water charge4 | 172,275 | 166,593 | 125,892 |
| Revenue from diversification sources5 | 263,626 | 78,593 | 759,207 |
| Total revenue | 56,098,037 | 56,297,222 | 53,963,677 |
| Fuel costs6 | (9,474,812) | (7,836,831) | (7,995,258) |
| Water costs7 | (172,275) | (166,593) | (125,892) |
| Total reimbursable expenses8 | (9,647,087) | (8,003,424) | (8,121,150) |
| Revenue less reimbursable expenses9 | 46,450,950 | 48,293,798 | 45,842,527 |
| Other income | 851,139 | 1,296,534 | 2,083,709 |
| Other gains/(losses) – net foreign exchange and fair valuation of financial assets1011 | 1,452,929 | (722,117) | 428,317 |
| Operating income12 | 48,755,018 | 48,868,215 | 48,354,553 |
| Depreciation and amortization13 | (14,484,645) | (15,707,703) | (15,800,445) |
| Employee expenses | (9,210,137) | (10,376,066) | (9,206,178) |
| Steam costs14 | (3,496,434) | (4,393,595) | (3,731,112) |
| Plant operation and maintenance expenses1516 | (2,337,451) | (3,667,517) | (2,979,740) |
| Other expenses | (4,847,405) | (5,739,660) | (7,067,800) |
| Allowance for expected credit losses -(charge)/credit17 | (762,397) | 567,366 | (1,162) |
| Operating profit | 13,616,549 | 9,551,040 | 9,568,116 |
| Finance income | 4,109,861 | 4,201,745 | 1,688,805 |
| Finance costs | (2,253,457) | (2,805,920) | (2,732,105) |
| Profit before income tax | 15,472,953 | 10,946,865 | 8,524,816 |
| Income tax charge | (4,991,876) | (4,149,853) | (3,508,339) |
| Profit for the year | 10,481,077 | 6,797,012 | 5,016,477 |
| Other comprehensive income/(loss) for the year, net of tax18 | 246,954 | (906,188) | (4,101,756) |
| Total comprehensive income for the year | 10,728,031 | 5,890,824 | 914,721 |
Notes and alternative reported figures (18)
- “Electricity revenue” is an issuer-specific line, not mapped to a shared definition: Note 6(a): revenue from contracts with customers.
- “Steam revenue” is an issuer-specific line, not mapped to a shared definition: Note 6(a).
- “Fuel charge” is an issuer-specific line, not mapped to a shared definition: Note 6(a): fuel costs passed through to the off-taker.
- “Water charge” is an issuer-specific line, not mapped to a shared definition: Note 6(a): water costs passed through to the off-taker.
- “Revenue from diversification sources” is an issuer-specific line, not mapped to a shared definition: Note 6(a).
- “Fuel costs” is an issuer-specific line, not mapped to a shared definition: Note 7: reimbursable expense.
- “Water costs” is an issuer-specific line, not mapped to a shared definition: Note 7: reimbursable expense.
- “Total reimbursable expenses” is an issuer-specific line, not mapped to a shared definition: Note 7: fuel and water costs recovered through the fuel and water charges.
- “Revenue less reimbursable expenses” is an issuer-specific line, not mapped to a shared definition: Issuer subtotal.
- “Other gains/(losses) – net foreign exchange and fair valuation of financial assets” is an issuer-specific line, not mapped to a shared definition: Note 9: foreign-exchange and fair-value movements in one line; not split.
- Printed under different labels across filings: “Other (losses)/gains – net foreign exchange and fair valuation of financial assets”; “Other gains/(losses) – net foreign exchange and fair valuation of financial assets”.
- “Operating income” is an issuer-specific line, not mapped to a shared definition: Issuer subtotal before operating expenses.
- “Depreciation and amortization” is an issuer-specific line, not mapped to a shared definition: Note 10(a): depreciation and amortisation in one line.
- “Steam costs” is an issuer-specific line, not mapped to a shared definition: Note 10(c).
- “Plant operation and maintenance expenses” is an issuer-specific line, not mapped to a shared definition: Note 10(d).
- Printed under different labels across filings: “Plant operation and maintenance”; “Plant operation and maintenance expenses”.
- Printed under different labels across filings: “Allowance for expected credit losses”; “Allowance for expected credit losses -(charge)/credit”.
- Printed under different labels across filings: “Other comprehensive income/(loss) for the year, net of tax”; “Other comprehensive loss for the year, net of tax”.
Balance sheet
| Line (as printed) | FY to 30 Jun 2025Annual reportreported for the year | FY to 30 Jun 2024Annual reportcomparative in FY to 30 Jun 2025 filing | FY to 30 Jun 2023Annual reportcomparative in FY to 30 Jun 2024 filing |
|---|---|---|---|
| Property, plant and equipment | 429,556,183 | 426,723,308 | 432,483,315 |
| Intangible assets | 2,226,724 | 2,118,932 | 2,256,114 |
| Right of Use assets | 6,948,159 | 6,665,185 | 6,579,750 |
| Financial assets held at amortized cost12 | 4,004,585 | 4,153,672 | 4,358,942 |
| Financial assets held at fair value through profit or loss34 | 6,177,905 | 728,515 | 17,816,799 |
| Restricted cash balances5 | 3,169,124 | 2,712,749 | 1,861,357 |
| Non-current assets (unlabelled subtotal) | 452,082,680 | 443,102,361 | 470,703,837 |
| Inventories | 2,923,924 | 2,136,284 | 1,848,446 |
| Trade receivables6 | 16,646,382 | 16,629,593 | 21,448,878 |
| Corporate tax recoverable | 448,697 | 195,667 | 441,713 |
| Financial assets held at amortized cost12 | 129,083 | 133,954 | 137,244 |
| Financial assets held at fair value through profit or loss34 | 1,311,203 | 895,818 | 2,236,554 |
| Other receivables and prepayments7 | 2,340,298 | 3,027,582 | 4,441,700 |
| Financial asset held at fair value through other comprehensive income8 | 373,716 | 321,154 | 320,422 |
| Cash and bank balances | 29,317,145 | 24,850,342 | 14,998,431 |
| Current assets (unlabelled subtotal) | 53,490,448 | 48,190,394 | 45,873,388 |
| TOTAL ASSETS | 505,573,128 | 491,292,755 | 516,577,225 |
| Share capital | 16,486,305 | 16,487,710 | 16,487,710 |
| Share premium | 22,148,855 | 22,151,131 | 22,151,131 |
| Other reserves | 116,314,989 | 118,730,184 | 122,361,165 |
| Retained earnings | 129,593,680 | 120,736,895 | 113,193,447 |
| Equity attributable to owners (unlabelled subtotal) | 284,543,829 | 278,105,920 | 274,193,453 |
| Borrowings | 109,271,273 | 107,748,716 | 137,042,085 |
| Deferred tax liability9 | 88,649,269 | 84,531,405 | 81,629,986 |
| Lease liabilities | 768,324 | 891,499 | 691,876 |
| Grants10 | 1,948,090 | 1,228,401 | 833,351 |
| Non-current liabilities (unlabelled subtotal) | 200,636,956 | 194,400,021 | 220,197,298 |
| Borrowings | 11,926,138 | 10,035,376 | 12,809,721 |
| Trade and other payables | 8,332,919 | 8,579,311 | 8,293,841 |
| Lease liabilities11 | 133,286 | 172,127 | 159,826 |
| Current liabilities (unlabelled subtotal) | 20,392,343 | 18,786,814 | 22,186,474 |
| TOTAL EQUITY AND LIABILITIES | 505,573,128 | 491,292,755 | 516,577,225 |
| Allowance for expected credit loss12 | 807,041 | 767,905 | 475,572 |
| Contract asset | Not reported in this filing13 | Not reported in this filing1314 | 5,347,560 |
| Dividends payable | Not reported in this filing15 | Not reported in this filing1514 | 923,086 |
Notes and alternative reported figures (15)
- “Financial assets held at amortized cost” is an issuer-specific line, not mapped to a shared definition: Note 18.
- Printed under different labels across filings: “Financial assets at amortized cost”; “Financial assets held at amortized cost”.
- “Financial assets held at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Note 19.
- Printed under different labels across filings: “Financial assets at fair value through profit or loss”; “Financial assets held at fair value through profit or loss”.
- “Restricted cash balances” is an issuer-specific line, not mapped to a shared definition: Note 24(b): staff loan scheme deposits; not available for use.
- “Trade receivables” is an issuer-specific line, not mapped to a shared definition: Note 21: due from Kenya Power.
- “Other receivables and prepayments” is an issuer-specific line, not mapped to a shared definition: Note 22.
- Printed under different labels across filings: “Financial asset at fair value through other comprehensive income”; “Financial asset held at fair value through other comprehensive income”.
- Printed under different labels across filings: “Deferred income tax”; “Deferred tax liability”.
- “Grants” is an issuer-specific line, not mapped to a shared definition: Note 32: deferred government and donor grants.
- Printed under different labels across filings: “Lease liabilities”; “Lease liabilities due within one year”.
- “Allowance for expected credit loss” is an issuer-specific line, not mapped to a shared definition: Note 24(a): cash in the statement of cash flows is cash at bank before this allowance.
- Not reported in this filing: No contract-asset line in the 2025 statement of financial position (p138).
- Annual report dated 2024-10-28 presents this line for this year: - (p140). Not shown in this column, which follows one filing's presentation.
- Not reported in this filing: No dividends-payable line in the 2025 statement of financial position (p138).
Cash flow
| Line (as printed) | FY to 30 Jun 2025Annual reportreported for the year | FY to 30 Jun 2024Annual reportcomparative in FY to 30 Jun 2025 filing | FY to 30 Jun 2023Annual reportcomparative in FY to 30 Jun 2024 filing |
|---|---|---|---|
| Cash generated from operations | 27,892,048 | 34,278,056 | 22,355,242 |
| Net income tax paid | (1,232,880) | (614,022) | (430,388) |
| Finance income received | 3,957,555 | 3,181,275 | 1,301,881 |
| Net cash generated from operating activities | 30,616,723 | 36,845,309 | 23,226,735 |
| Purchase of property, plant and equipment | (13,592,324) | (8,917,415) | (10,396,683) |
| Staff costs incurred in capital projects1 | (2,430,922) | (2,318,808) | (2,815,221) |
| Interest costs incurred in capital projects2 | (544,617) | (754,632) | (396,423) |
| Purchase of intangible assets | (361,338) | (108,416) | (226,949) |
| Purchase of leasehold land3 | (616,130) | –4 | Not reported in this filing5 |
| Movement in restricted cash balances67 | (464,177) | (858,379) | (524,495) |
| Grants received8 | 721,330 | 396,828 | 501,402 |
| Proceeds on disposal of assets | 311,796 | 8,988 | –4 |
| Net cash used in investing activities | (16,976,382) | (12,551,834) | (13,858,369) |
| Proceeds from borrowings | 5,922,033 | 1,620,282 | 12,471,626 |
| Principal loan repayments | (8,320,538) | (9,701,910) | (14,713,281) |
| Finance costs paid | (2,173,309) | (2,878,118) | (2,876,753) |
| Dividends paid | (4,286,441) | (2,901,443) | (1,780,235) |
| Payment of lease liabilities - principal | (167,623) | (120,091) | Not reported in this filing9 |
| Payment of lease liabilities - interest | (100,800) | (155,794) | Not reported in this filing9 |
| Net cash used in financing activities | (9,126,678) | (14,137,074) | (7,130,445) |
| Net increase in cash and cash equivalents | 4,513,663 | 10,156,401 | 2,237,921 |
| Cash and cash equivalents at beginning of the year10 | 25,618,247 | 15,474,003 | 12,655,202 |
| Effects of exchange rate changes on cash and bank balances | (7,724) | (12,157) | 580,880 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 30,124,186 | 25,618,247 | 15,474,003 |
| Payment of lease liabilities11 | Not reported in this filing12 | Not reported in this filing1213 | (231,802) |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (12)
- “Staff costs incurred in capital projects” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 15(a)).
- “Interest costs incurred in capital projects” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 15(a)).
- “Purchase of leasehold land” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 17).
- Not reported in this filing: No leasehold-land purchase line in the 2024 statement of cash flows (p142).
- “Movement in restricted cash balances” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 24(b)).
- Printed under different labels across filings: “Movement in restricted cash”; “Movement in restricted cash balances”.
- “Grants received” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 32).
- Not reported in this filing: The 2024 statement of cash flows (p142) prints one line, 'Payment of lease liabilities', without the principal/interest split.
- Printed under different labels across filings: “Cash and cash equivalents at beginning of the year”; “Cash and cash equivalents at the beginning of the year”.
- “Payment of lease liabilities” is an issuer-specific line, not mapped to a shared definition: Financing activities, principal and interest in one line (2024 report); the 2025 report prints the two parts separately.
- Not reported in this filing: The 2025 statement of cash flows (p140) prints lease payments as principal and interest lines, without a total.
- Annual report dated 2024-10-28 presents this line for this year: (275,885) (p142). Not shown in this column, which follows one filing's presentation.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 30 Jun 2025 | Dividend recommended, subject to shareholder approval | a final dividend in respect of the year ended 30 June 2025 of Shs. 0.90 (2024: Shs. 0.65) for every ordinary share of par value of Shs. 2.50 is to be proposed |
no amount | Annual report, p206 | |
| 30 Jun 2025 | Dividend proposed per share, as printed in a statement | Final dividend proposed for the year, per share |
0.90 | KES per share | Annual report, p206 |
| 30 Jun 2025 | Dividends paid (cash flow statement) | Dividends paid |
(4,286,441) | KES thousands | Annual report, p140 |
| 30 Jun 2024 | Dividend recommended, subject to shareholder approval | a final dividend in respect of the year ended 30 June 2024 of Shs. 0.65 (2023: Shs. 0.30) for every ordinary share of par value of Shs.2.50 is to be proposed |
no amount | Annual report, p206 | |
| 30 Jun 2024 | Dividend proposed per share, as printed in a statement | Final dividend proposed for the year, per share |
0.65 | KES per share | Annual report, p206 |
| 30 Jun 2024 | Dividend proposed per share, as printed in a statement | Final dividend proposed for the year, per share |
0.65 | KES per share | Annual report, p206 |
| 30 Jun 2024 | Dividends paid (cash flow statement) | Dividends paid |
(2,901,443) | KES thousands | Annual report, p140 |
| 30 Jun 2023 | Dividend proposed per share, as printed in a statement | Final dividend proposed for the year, per share |
0.30 | KES per share | Annual report, p206 |
| 30 Jun 2023 | Dividends paid (cash flow statement) | Dividends paid |
(1,780,235) | KES thousands | Annual report, p142 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
KenGen Integrated Annual Report & Financial Statements 2025
Year ended 30 June 2025 · Annual report · signed / final
Audit: Auditor-General of Kenya (Office of the Auditor-General), unmodified opinion · signed
Auditor's sign-off: FCPA Nancy Gathungu, CBS, Auditor-General (audit carried out on her behalf by Deloitte & Touche)
- Original PDF — Company website (kengen.co.ke) Link checked 2026-10-08: same file as our archived copy.
Final status: Report of the Auditor-General signed by FCPA Nancy Gathungu, CBS, and dated 30 October, 2025 (PDF p135, scanned, page image); statements approved by the board on 30 October 2025 and signed for the board by the chairman, a director and the managing director & CEO (PDF p138, page image).
- Document date
- 30 Oct 2025
- Auditor's report
- 30 Oct 2025
- Board approval
- 30 Oct 2025
- Retrieved by us
- 7 Oct 2026 (not a publication date)
- Used for
- statement columns FY to 30 Jun 2025, FY to 30 Jun 2024
- Basis
- company statements · KES thousands (printed “Shs'000”)
- Key audit matter: impairment assessment of plant, machinery, buildings, transmission lines and capital work in progress (PDF pp129-130, scanned).
- Other matter (PDF p130, scanned): delay in compensation for land at Changamwe acquired by the Kenya National Highways Authority. Reports on lawfulness and effectiveness in the use of public resources and on internal controls (PDF pp131-133): conclusions 'except for' the matters described (a stalled office block and parking yard at Olkaria; the Kenya Power trade receivable, among others). These do not modify the opinion on the financial statements.
- Note 14 gives 6,594,522 thousand shares in issue at 30 June 2025 and 2024, but the 2024 share capital of 16,487,710 at par Shs 2.50 corresponds to 6,595,084 thousand shares; in 2025 share capital fell by 1,405 ('Unallotted shares refund', statement of changes in equity, p139) to 16,486,305 (= 6,594,522 thousand × 2.50). That the 2024 capital included unallotted shares is an inference, not stated by the issuer.
- The 2025 statement of cash flows splits lease payments into principal (167,623; 2024: 120,091) and interest (100,800; 2024: 155,794); the 2024 report printed one line, 'Payment of lease liabilities' (275,885 = 120,091 + 155,794).
- The statement of financial position prints subtotals without labels (non-current assets, current assets, equity, non-current and current liabilities); no total-liabilities line is printed.
- Final dividend Shs 0.90 per share to be proposed for 2025 (2024: 0.65); no interim dividend (note 34). A full-year results announcement for the year to 30 June 2026 is listed on the issuer's site, but the 2026 integrated report and financial statements were not yet published when checked (2026-10-07), so FY2026 is not collected.
Technical details
- File
- 272 pages, with a text layer
- SHA-256
e2563075c4712f32bc0133df37949e93e7728cc05d28959f0d20e126479877b5- Entity as printed
- Kenya Electricity Generating Company PLC
- Issuer copy
- retrieved 2026-10-07T23:41:38Z
-
KenGen Integrated Annual Report & Financial Statements 2024
Year ended 30 June 2024 · Annual report · signed / final
Audit: Auditor-General of Kenya (Office of the Auditor-General), unmodified opinion · signed
Auditor's sign-off: FCPA Nancy Gathungu, CBS, Auditor-General (audit carried out on her behalf by Deloitte & Touche)
- Original PDF — Company website (kengen.co.ke) Link checked 2026-10-08: same file as our archived copy.
Final status: Report of the Auditor-General signed and dated 28 October, 2024 (PDF p137, scanned, page image); statements approved by the board on 28 October 2024 and signed for the board by the chairman, a director and the managing director & CEO (PDF p140, page image).
- Document date
- 28 Oct 2024
- Auditor's report
- 28 Oct 2024
- Board approval
- 28 Oct 2024
- Retrieved by us
- 7 Oct 2026 (not a publication date)
- Used for
- statement columns FY to 30 Jun 2023
- Basis
- company statements · KES thousands (printed “Shs'000”)
- Key audit matters (PDF pp132-133, scanned), including the impairment assessment of property, plant and equipment.
- Other matter (PDF p133, scanned): non-compensation by the National Land Commission and the Kenya National Highways Authority for the Company's land at Changamwe (Kshs.250,611,659 sought). Report on lawfulness and effectiveness in the use of public resources (PDF p134): conclusion 'except for' the matters described. These do not modify the opinion on the financial statements.
- The statement of financial position prints subtotals without labels; no total-liabilities line is printed. 'Contract asset' and 'Dividends payable' print '-' for 2024.
- Final dividend Shs 0.65 per share to be proposed for 2024 (2023: 0.30); no interim dividend (note 34).
- PDF p131 shows the opinion page of the Auditor-General's report as an image, but its hidden text layer holds different text (the other-matter section also shown on p133). The opinion was read from the page image and OCR, not from that text layer.
Technical details
- File
- 268 pages, with a text layer
- SHA-256
69ade45bd611fb343570005134817ddbe707bca276ee7e22536d1b59d222820f- Entity as printed
- Kenya Electricity Generating Company PLC
- Issuer copy
- retrieved 2026-10-07T23:41:42Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been checked against its cited source page in an AI-assisted source verification (7 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
Download
Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.