Alkhorayef Water and Power Technologies Co. posted SAR 119.9 million net profit for H1 2024, a rise of 76% year-on-year from SAR 68.3 million.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 738.10 | 891.69 | 20.8 % |
| Gross Income | 118.59 | 198.42 | 67.3 % |
| Operating Income | 95.12 | 154.39 | 62.3 % |
| Net Income | 68.32 | 119.95 | 75.6 % |
| Average Shares | 35.00 | 35.00 | - |
| EPS (Riyals) | 1.95 | 3.43 | 75.6 % |
Q2 net profit also rose by 116% to SAR 76.8 million, from SAR 35.5 million in Q2 2023.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 416.49 | 433.53 | 4.1 % |
| Gross Income | 61.82 | 119.59 | 93.5 % |
| Operating Income | 49.46 | 95.33 | 92.7 % |
| Net Income | 35.59 | 76.89 | 116.0 % |
| Average Shares | 35.00 | 35.00 | - |
| EPS (Riyals) | 1.02 | 2.20 | 116.0 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 458.16 | 433.53 | (5.4 %) |
| Gross Income | 78.83 | 119.59 | 51.7 % |
| Operating Income | 59.07 | 95.33 | 61.4 % |
| Net Income | 43.06 | 76.89 | 78.5 % |
| Average Shares | 35.00 | 35.00 | - |
| EPS (Riyals) | 1.23 | 2.20 | 78.5 % |
The profit rise was driven by a 20.8% increase in revenues to SAR 891.69 million, mainly due to the increase in revenue from the wastewater segment by 26.50% and water segment by 1.42% aided by the revenue generated from the new projects.
Shareholders' equity (no minority interest) amounted to SAR 657.35 million, compared to SAR 465.89 million in the same period a year earlier.
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