Alkhorayef Water and Power Technologies Co. reported a 64% rise in net profit to SAR 230 million for 2024, compared to SAR 140 million a year earlier.
Item | 2023 | 2024 | Change |
---|---|---|---|
Revenues | 1,679.81 | 1,952.15 | 16.2 % |
Gross Income | 264.09 | 384.32 | 45.5 % |
Operating Income | 201.52 | 298.37 | 48.1 % |
Net Income | 140.02 | 230.00 | 64.3 % |
Average Shares | 35.00 | 35.00 | - |
Earnings Per Share before unusual items (Riyals) | 4.34 | 6.57 | 51.3 % |
EPS (Riyals) | 4.00 | 6.57 | 64.3 % |
The annual profit rise was driven by a 16.2% year-on-year (YoY) increase in revenues to SAR 1.95 billion amid new project awards. This is in addition to a 45.53% YoY hike in gross profit to SAR 384.3 million.
Alkhorayef Water witnessed higher earnings in 2024 despite the elevated diesel prices at the onset of that year.
The company’s fourth-quarter net profit more than doubled to SAR 69.87 million, from SAR 26.69 million in the year-ago period.
On a sequential basis, the three-month bottom line leapt 73.9% from SAR 40.19 million in Q3 2024.
Item | Q4 2023 | Q4 2024 | Change |
---|---|---|---|
Revenues | 472.95 | 609.68 | 28.9 % |
Gross Income | 74.15 | 102.45 | 38.2 % |
Operating Income | 46.18 | 78.76 | 70.6 % |
Net Income | 29.69 | 69.87 | 135.3 % |
Average Shares | 35.00 | 35.00 | - |
Earnings Per Share before unusual items (Riyals) | 1.19 | 2.00 | 67.5 % |
EPS (Riyals) | 0.85 | 2.00 | 135.3 % |
Item | Q3 2024 | Q4 2024 | Change |
---|---|---|---|
Revenues | 450.78 | 609.68 | 35.2 % |
Gross Income | 83.46 | 102.45 | 22.8 % |
Operating Income | 61.65 | 78.76 | 27.8 % |
Net Income | 40.19 | 69.87 | 73.9 % |
Average Shares | 35.00 | 35.00 | - |
Earnings Per Share before unusual items (Riyals) | 1.15 | 2.00 | 73.9 % |
EPS (Riyals) | 1.15 | 2.00 | 73.9 % |
Total shareholders’ equity, with no minority interest, rose to SAR 776.24 million by the end of 2024, compared to SAR 537.59 million a year earlier.
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