Alkhorayef Water posts 24% profit growth to SAR 114 mln for 2020

10/03/2021 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported net profit after Zakat and tax of SAR 114 million in 2020, a jump of 24% from SAR 91.7 million in 2019.

This profit rise was driven by a 23.1% increase year-on-year (YoY) in revenue, boosted by business divisions of water, wastewater and integrated water solutions.

The company also cited a 24% jump YoY in operating profit to SAR 116.8 million, on higher revenue from the new projects.

Financials (M)

Item	2019	2020	Change‬
Revenues	423.23	520.83	23.1 %
Gross Income	119.15	143.25	20.2 %
Operating Income	94.17	116.81	24.0 %
Net Income	91.73	113.95	24.2 %
Average Shares	35.00	35.00	-
Earnings Per Share before unusual items (Riyals)	2.50	3.26	30.5 %
EPS (Riyals)	2.62	3.26	24.2 %

The company’s fourth-quarter net profit after Zakat and tax increased 49% YoY to SAR 31.6 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	125.77	140.57	11.8 %
Gross Income	33.43	37.84	13.2 %
Operating Income	25.92	32.02	23.5 %
Net Income	25.54	31.59	23.7 %
Average Shares	35.00	35.00	-
Earnings Per Share before unusual items (Riyals)	0.67	0.90	34.2 %
EPS (Riyals)	0.73	0.90	23.7 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	129.50	140.57	8.5 %
Gross Income	32.82	37.84	15.3 %
Operating Income	25.46	32.02	25.8 %
Net Income	24.70	31.59	27.9 %
Average Shares	35.00	35.00	-
Earnings Per Share before unusual items (Riyals)	0.71	0.90	27.9 %
EPS (Riyals)	0.71	0.90	27.9 %

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