Financial Results : Alkhorayef 9M 2022 net profit up 12% to SAR 79.8 mln; Q3 at SAR 28.1 mln

Alkhorayef 9M 2022 net profit up 12% to SAR 79.8 mln; Q3 at SAR 28.1 mln

06/11/2022 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 79.8 million for the first nine months of 2022, a 12% hike from SAR 71 million in the year-earlier period.

 

This profit rise was driven by a 36% year-on-year (YoY) rise in revenue during the nine-month period to SAR 551.5 million on higher revenue from water, integrated water solutions sector and wastewater segments.

 



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 405.83 551.46 35.9 %
Gross Income 111.98 133.62 19.3 %
Operating Income 79.43 97.57 22.8 %
Net Income 70.98 79.76 12.4 %
Average Shares 35.00 35.00 -
EPS (Riyals) 2.03 2.28 12.4 %

Q3 net profit after Zakat and tax jumped 26% YoY to SAR 28.1 million, from SAR 22.34 million in the prior-year period, on a YoY increase in revenue to SAR 193.5 million.

 

On a sequential basis, net profit grew 7% from SAR 26.33 million



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 137.93 193.50 40.3 %
Gross Income 35.33 44.34 25.5 %
Operating Income 25.30 32.94 30.2 %
Net Income 22.34 28.13 25.9 %
Average Shares 35.00 35.00 -
EPS (Riyals) 0.64 0.80 25.9 %

Total shareholders’ equity, after minority rights, reached SAR 398.767 million as of Sept. 30, 2022, compared to SAR 327.515 million in prior-year period.

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