Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 51.6 million for the first half of 2022, a 6% rise from SAR 48.7 million a year earlier.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 267.90 | 357.96 | 33.6 % |
| Gross Income | 76.65 | 89.28 | 16.5 % |
| Operating Income | 54.13 | 64.63 | 19.4 % |
| Net Income | 48.65 | 51.64 | 6.1 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.95 | 2.07 | 6.1 % |
Revenues increased by 33.61% year-on-year (YoY) to SAR 357.96 million during the period, due to a 2.9% and 225.8% increase in revenue from the water and integrated water solutions segments, respectively backed by the revenue generated from new projects.
Operating profit jumped 19.4% YoY to SAR 64.6 million, thanks to the increase in revenues from new projects that started during the year.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 134.89 | 184.43 | 36.7 % |
| Gross Income | 38.49 | 45.72 | 18.8 % |
| Operating Income | 24.39 | 34.60 | 41.9 % |
| Net Income | 21.71 | 26.33 | 21.3 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 0.87 | 1.05 | 21.3 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 173.53 | 184.43 | 6.3 % |
| Gross Income | 43.56 | 45.72 | 4.9 % |
| Operating Income | 30.03 | 34.60 | 15.3 % |
| Net Income | 25.31 | 26.33 | 4.0 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.01 | 1.05 | 4.0 % |
In Q2 2022, the utility posted a 21% increase in net profit to SAR 26.3 million, from SAR 21.7 million in the corresponding period of 2021, driven by a 36.73% revenue rise YoY to SAR 184.4 million. Operating profit grew by 41.86% to SAR 34.6 million.
When compared to the previous quarter, net profit after Zakat and tax grew 4% from SAR 25.31 million.
Total shareholders’ equity, after minority interest, reached SAR 370.6 million in as of June 30, 2022, compared to SAR 305.2 million in a year earlier.
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