The Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) reported a net profit of SAR 266.1 million in H1 2023, a decline of 34% from SAR 404.8 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 3,117.54 | 3,064.97 | (1.7 %) |
| Gross Income | 554.74 | 561.01 | 1.1 % |
| Operating Income | 443.24 | 429.85 | (3.0 %) |
| Net Income | 404.77 | 266.11 | (34.3 %) |
| Average Shares | 250.00 | 250.00 | - |
| EPS (Riyals) | 1.62 | 1.06 | (34.3 %) |
The profit decline was attributed to higher financing costs and lower operating revenues, despite a decrease in Zakat and tax provision.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 1,655.51 | 1,591.80 | (3.8 %) |
| Gross Income | 309.30 | 305.20 | (1.3 %) |
| Operating Income | 255.86 | 233.64 | (8.7 %) |
| Net Income | 261.82 | 159.39 | (39.1 %) |
| Average Shares | 250.00 | 250.00 | - |
| EPS (Riyals) | 1.05 | 0.64 | (39.1 %) |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 1,473.17 | 1,591.80 | 8.1 % |
| Gross Income | 255.82 | 305.20 | 19.3 % |
| Operating Income | 196.21 | 233.64 | 19.1 % |
| Net Income | 106.72 | 159.39 | 49.4 % |
| Average Shares | 250.00 | 250.00 | - |
| EPS (Riyals) | 0.43 | 0.64 | 49.4 % |
The company reported a net profit of SAR 159.4 million in Q2 2023, a 39% decline from SAR 261.8 million a year earlier.
On a sequential basis, net earnings rose by 49.4% from SAR 106.7 million on higher operating revenues and lower Zakat and tax provision, which was partially offset by higher financing costs.
Total shareholders’ equity, no minority interest, stood at SAR 8.24 billion as of June 30, 2023, compared to SAR 7.95 billion in a prior-year period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}