The assembly of MAPNA Group took place on Sunday, October 12, 2025, at the Ghalam Hall of Iran’s National Library in Tehran.
The session was chaired by Mohammadreza Oula, Chairman of MAPNA Group’s Board of Directors, with Mohammad Owliya, President and Vice Chairman, Amir Hamooni, Board Member, and Ahmadreza Farasat, Economic and Financial Deputy of MAPNA Group, who served as the session’s secretary.
Representatives from the Securities and Exchange Organization, the independent auditor, the legal inspector, and several shareholders also attended. The session was broadcast live online for public viewing.
Operating Revenue and Profit Growth
Chairman Mohammadreza Oula praised the performance of MAPNA staff and announced a 37% growth in operational income for the parent company, surpassing 500 trillion rials (roughly USD 454 million). He added that the group’s net profit grew by 120% compared to the previous year.
Oula said the group’s consolidated operating income reached 1.05 quadrillion rials (roughly USD 955 million). He also highlighted a positive foreign exchange balance of €3.3 billion, which contributed significantly to profitability.
He stated that a capital increase is a top priority in coordination with MAPNA’s main shareholder.
Oula reported that accounts receivable collections reached 270 trillion rials (roughly USD 245 million) in the Iranian calendar year 1402 and 400 trillion rials (roughly USD 364 million) in the year 1403, drawn from various sources. He also said MAPNA’s net foreign receivables total about €3 billion.
Electricity Generation Capacity
MAPNA Group President Mohammad Owliya presented the conglomerate’s new organizational structure, which includes specialized holdings and a more diverse portfolio of products and services.
He noted that MAPNA currently operates or is constructing 549 power plant units — 137 under construction with a total capacity exceeding 14,000 megawatts, and 412 synchronized units totaling more than 53,000 megawatts.
Owliya said MAPNA’s installed capacity represents more than half of Iran’s total power generation.
He explained that in the Iranian calendar year 1403, the conglomerate built various gas, combined-cycle, and renewable power plants totaling around 2,000 megawatts, meeting the country’s growing energy demand.
Water Projects
Owliya referred to desalination projects in Qeshm and Lian (Bushehr), which produce over 15 million cubic meters of fresh water.
He added that the Qeshm combined-cycle desalination plant, Mehr-e-Khalij Fars, Makran, Dayyer (Bushehr), and Chark (Hormozgan) projects are progressing significantly, with a combined production capacity of around 80,000 cubic meters per day of potable and demineralized water.
Oil and Gas Sector
Discussing the oil and gas business, Owliya said a gas compression project is in the engineering phase, utilizing MAPNA’s MGT-20 and MGT-30 turbines.
He said MAPNA is working on numerous projects in this field, covering reservoir studies, development, operation, investment, installation, commissioning, major overhauls, engineering services, procurement, drilling, and well completion.
These activities span gas and oil fields such as Sarajeh, Arvandan, Danan, Qaleh Nar, Band Karkheh, Azadegan, and South Pars.
Owliya said the Shourijeh Gas Storage National Project has reached 55% completion by the end of 1403 (March 2025), despite financial constraints.
Transportation
In the transportation sector, MAPNA made notable progress last year. The company launched two new locomotive products — the 4,000-horsepower MAP30 and the MP610 engine — and began contracts and design work for a 136-ton dump truck.
In electric mobility, MAPNA expanded its line of electric vehicle and bus chargers. Three new products were added to its portfolio: the 30kW Wallbox charger, 30kW portable DC charger, and the MAP-iON Nova Series 120 kW Mobile Charger.
Market Expansion and Exports
Owliya emphasized market expansion and international presence as key strategies for MAPNA.
The conglomerate’s expertise in manufacturing high-tech gas turbines, a capability held by few companies globally, has enabled it to export engineering and technical services.
MAPNA was recognized as Iran’s top exporter for the fourth consecutive year in 1403.
Social Responsibility
Owliya said energy management, water resource efficiency, pollution reduction, environmental protection, and transportation infrastructure development are among MAPNA’s core social responsibilities.
He highlighted efforts to promote clean and renewable energy, as well as cooling system optimization.
To institutionalize charitable initiatives, MAPNA established the “MAPNA Charity Foundation for Altruism,” which supports underprivileged children, youth empowerment, and educational infrastructure.
Financial Settlements and Debts
During the review of the independent auditor’s and inspector’s report, Deputy Finance and Economy Ahmadreza Farasat addressed legal and financial issues, including contract annexes, asset reserves, claims related to projects in Syria, and receivables from fuel-saving initiatives.
Farasat said MAPNA has already paid dividends to minor shareholders, while dividends for major institutional shareholders are scheduled soon.
He confirmed that outstanding historical debts to shareholders have been settled.
Capital and Shareholder Composition
MAPNA Group’s total capital now stands at 60 trillion rials (roughly USD 54.5 million), Farasat said.
As of the fiscal year ending March 20, 2025, its main shareholders include the Saba Electricity and Water Industries Investment Company (holding over 47%), 31 provincial investment companies, Sarvat Afarin Saba Investment, Edalat Shares, Bank Pasargad, Saderfar Company, Central Insurance of the Islamic Republic of Iran, and various individual and institutional investors.
Resolutions and Closing
At the end of the session, shareholders approved a cash dividend of 620 rials per share.
The assembly also instructed management to pursue the release of MAPNA’s frozen foreign currency assets in Iraq and to pay shareholder dividends earlier than the four-month legal deadline.
Other resolutions included:
- Proceeding with capital increase after legal procedures
- Setting Board of Directors’ bonuses
- Determining auditor and inspector fees
- Increasing allocations for corporate social responsibility (CSR) initiatives
Oula, Owliya, and Farasat addressed questions from attendees and online participants at the end of the assembly.
