Power and Utility Company for Jubail and Yanbu (MARAFIQ) reported a 34% rise in net profit after Zakat and tax to SAR 845.7 million in 2022, from SAR 632 million a year earlier, as revenues grew on higher sales volumes despite an increase in financing costs.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 6,192.29 | 6,505.09 | 5.1 % |
| Gross Income | 1,005.29 | 1,148.20 | 14.2 % |
| Operating Income | 761.56 | 873.81 | 14.7 % |
| Net Income | 632.00 | 845.65 | 33.8 % |
| Average Shares | 250.00 | 250.00 | - |
| EPS (Riyals) | 2.53 | 3.38 | 33.8 % |
In Q4 2022, net profit after Zakat and tax climbed 68% to SAR 131.2 million, from SAR 78.31 million in the prior-year period.
Compared to the previous quarter, the utility’s net profit slumped 57.6% from SAR 309.66 million.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 1,556.52 | 1,619.62 | 4.1 % |
| Gross Income | 225.90 | 162.75 | (28.0 %) |
| Operating Income | 82.41 | 70.10 | (14.9 %) |
| Net Income | 78.31 | 131.22 | 67.6 % |
| Average Shares | 250.00 | 250.00 | - |
| EPS (Riyals) | 0.31 | 0.52 | 67.6 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 1,767.94 | 1,619.62 | (8.4 %) |
| Gross Income | 430.71 | 162.75 | (62.2 %) |
| Operating Income | 360.47 | 70.10 | (80.6 %) |
| Net Income | 309.66 | 131.22 | (57.6 %) |
| Average Shares | 250.00 | 250.00 | - |
| EPS (Riyals) | 1.24 | 0.52 | (57.6 %) |
Shareholders’ equity, after minority interest, reached SAR 8.24 billion as of Dec. 31, 2022, up from SAR 7.55 billion a year earlier.
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