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

View other reports

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 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	173.53	184.43	6.3 %
Gross Income	43.56	45.72	4.9 %
Operating Income	30.02	34.60	15.3 %
Net Income	25.31	26.33	4.0 %
Average Shares	35.00	35.00	-
EPS (Riyals)	0.72	0.75	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.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×