Alkhorayef Water estimates market share at 50%, has SAR 6.6B backlog: CEO

Rami Moussilli, CEO of Alkhorayef Water & Power Technologies Co. (AWPT), speaking on the sidelines of the 11th Annual EFG Hermes Investment Conference in London

Alkhorayef Water & Power Technologies Co.’s (AWPT) estimated market share in operations and maintenance (O&M) projects reached about 50% by the end of Q2 2025, implementing and managing more than 87 contracts across Saudi Arabia, CEO Rami Moussilli told Argaam.

Speaking on the sidelines of the 11th Annual EFG Hermes Investment Conference in London, Moussilli pointed out that the Saudi-listed company delivered robust financial results for Q2 2025, with further growth on track.

“Excluding the one-off success fees from the financial close of the Rayis–Rabigh pipeline project in Q2 2024, the company saw a 62% revenue hike, from SAR 383 million (after excluding SAR 49 million) to SAR 645 million in Q2 2025.

The CEO highlighted that the company’s contractual backlog reached SAR 6.6 billion by the end of Q2 2025, expecting revenues from this backlog — without additional projects — to reach about SAR 2.5 billion by the end of 2025, from SAR 1.9 billion last year.

The company’s backlog is expected to grow significantly by year-end, driven by new privatization and O&M projects. AWPT has already secured several long-term O&M projects and plans to expand further in this field during the second tendering phase, in addition to privatization projects with water companies and entities specialized in water and wastewater contracts in the Kingdom, said Moussilli.

The CEO also expects AWPT’s revenues to continue growing in H2 2025, reaching around SAR 2.5-2.6 billion by the end of 2025. He expressed optimism for next year, citing the company’s entry into several privatization projects worth more than SAR 140 billion, as disclosed in the investor presentation.

According to Argaam data, AWPT’s profit inched lower to SAR 119.8 million by the end of H1 2025, compared to SAR 119.9 million in the same period in 2024. The second-quarter profit fell by about 20% year-on-year to SAR 61.7 million.