Alkhorayef Water and Power Technologies Co. reported a 32% leap in H1 2023 net profit to SAR 68.3 million from SAR 51.6 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 357.96 | 738.10 | 106.2 % |
| Gross Income | 89.28 | 118.59 | 32.8 % |
| Operating Income | 64.63 | 95.13 | 47.2 % |
| Net Income | 51.64 | 68.32 | 32.3 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 2.07 | 2.73 | 32.3 % |
AWPT’s revenues more than doubled year-on-year (YoY) to SAR 738 million, driven by a 211.9% YoY surge in revenues from the water sector. Revenues from the wastewater and integrated water solutions sectors increased by 52.5% and 20.1% YoY, respectively as the company commenced new projects in Q4 2022.
The utility’s net profit jumped 35% to SAR 35.6 million in Q2 2023, compared to SAR 26.3 million in the prior-year period. The company’s overall revenues soared 125.8% YoY to SAR 416.5 million, driven by a 249.3% YoY rise in revenues from the water sector. Revenues from the wastewater and integrated water solutions sectors increased by 65.8% and 13.1% YoY, respectively as the company commenced new projects in Q4 2022.
Operating income also leapt 43% YoY to SAR 49.6 million in Q2 2023.
AWPT’s net profit grew 8.7% from SAR 32.7million in Q1 2023, thanks to a 29.5% rise in revenues. Operating income also increased by 8.5% sequentially to SAR 49.6 million.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 184.43 | 416.49 | 125.8 % |
| Gross Income | 45.72 | 61.82 | 35.2 % |
| Operating Income | 34.60 | 49.46 | 42.9 % |
| Net Income | 26.33 | 35.59 | 35.2 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.05 | 1.42 | 35.2 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 321.61 | 416.49 | 29.5 % |
| Gross Income | 56.77 | 61.82 | 8.9 % |
| Operating Income | 46.79 | 49.46 | 5.7 % |
| Net Income | 32.73 | 35.59 | 8.7 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.31 | 1.42 | 8.7 % |
Shareholders’ equity, no minority interest, increased to SAR 465.89 million as of June 30, 2023, from SAR 370.64 million a year earlier.
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