Saudi Electricity Company (SEC) [5110.SE] losses in 4Q16 reached SAR2.343bn vs. losses of SAR1.4bn in 4Q15, despite a 19% increase in revenues Y-o-Y. The company achieved losses on the gross level of SAR1.96bn in 4Q16 vs. SAR1.34bn in 4Q15. The company attributed the increased loss to the hike in energy costs and higher depreciation costs. The company also noted that it had added SAR55bn worth of assets in the past year to generation, transmission and distribution, which is historically the highest addition within a 12-month period. (Tadawul, earnings release)