Alkhorayef Water 9M 2024 profit up 45% to SAR 160.1M; Q3 at SAR 40.2M

07/11/2024 Argaam Exclusive

Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit of SAR 160.1 million for the first nine months of 2024, a 45% hike from SAR 110.3 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 1,206.87 1,342.47 11.2 %
Gross Income 189.94 281.88 48.4 %
Operating Income 155.33 212.77 37.0 %
Net Income 110.33 160.14 45.1 %
Average Shares 35.00 35.00 -
EPS (Riyals) 3.15 4.58 45.1 %

This profit rise was driven by the increased topline amid higher revenues from the water and the wastewater treatment segments, which were up by 8% and 48% year-on-year (YoY), respectively. Gross profit also rose by 48% YoY to SAR 281.9 million in 9M 2024.

 

However, the third-quarter net profit was down 4.4% to SAR 40.19 million, from SAR 42.02 million in the prior-year period, pressured by the 4% YoY revenue drop for the three-month period and the allocation of SAR 12.8 million in provisions related to fines and expected credit losses.

 

On a sequential basis, the bottom line also fell 47.7% from SAR 76.89 million in Q2 2024.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 468.77 450.78 (3.8 %)
Gross Income 71.35 83.46 17.0 %
Operating Income 56.83 58.37 2.7 %
Net Income 42.02 40.19 (4.4 %)
Average Shares 35.00 35.00 -
EPS (Riyals) 1.20 1.15 (4.4 %)

Total shareholders’ equity, no minority interest, expanded to SAR 697.73 million as of Sept. 30, 2024, compared to SAR 507.91 million in the prior-year period.

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Share Price

Alkhorayef Water and Power Technologies Co.
146.20
0.40 0.27 %

Alkhorayef Water and Power Technologies Co. (AWPT)

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Financial Ratios
Current
Market Cap (M Riyal) 5,117.00
Enterprise Value (EV) (M) 5,458.07
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) 25.35
P/E (TTM) 26.96
Price/book 7.33
Return on Average Assets (%) (TTM) 9.7
Return on Average Equity (%) (TTM) 31.5
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