Alkhorayef Water H1 2022 profit up 6% to SAR 51.6 mln; Q2 jumps 21% to SAR 26.3 mln

17/08/2022 Argaam Exclusive

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.



Financials (M)

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 51.63 6.1 %
Average Shares 35.00 35.00 -
EPS (Riyals) 1.39 1.48 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.



Current Quarter Comparison (M)

Compared With The
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 35.00 35.00 -
EPS (Riyals) 0.62 0.75 21.3 %

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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Share Price

Alkhorayef Water and Power Technologies Co.
146.40
(1.20) (0.81 %)

Alkhorayef Water and Power Technologies Co. (AWPT)

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Financial Ratios
Current
Market Cap (M Riyal) 5,124.00
Enterprise Value (EV) (M) 5,465.07
Shares Outstanding ((M)) 35.00
EPS ( Riyal) (TTM) 5.42
Book Value (BV) ( Riyal) 19.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.38
P/E (TTM) 26.99
Price/book 7.34
Return on Average Assets (%) (TTM) 9.7
Return on Average Equity (%) (TTM) 31.5
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