Financial Results : Alkhorayef Water’s 2021 net profit declines 9% to SAR 103.3 mln; Q4 at SAR 32.3 mln

Alkhorayef Water’s 2021 net profit declines 9% to SAR 103.3 mln; Q4 at SAR 32.3 mln

20/03/2022 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 103.3 million for 2021, a decline of 9% year-on-year (YoY) from SAR 114 million.



Financials (M)

Item 2020 2021 Change‬
Revenues 520.83 569.04 9.3 %
Gross Income 143.25 151.46 5.7 %
Operating Income 116.81 112.59 (3.6 %)
Net Income 113.95 103.33 (9.3 %)
Average Shares 35.00 35.00 -
Earnings Per Share before unusual items (Riyals) 3.26 2.95 (9.3 %)
EPS (Riyal) 3.26 2.95 (9.3 %)

The earnings drop was driven by an SAR 8.11 million increase in Zakat expenses, and a rise of SAR 12.6 million in general and administrative expenses (G&As), despite 9.26% growth in 2021 revenue to SAR 48.2 million. 

 

Q4 2021 net profit rose 2% YoY to SAR 32.3 million.

 

Sequentially, net profit jumped by 44.8% from SAR 22.34 million in Q3 2021.  

 



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 140.57 163.20 16.1 %
Gross Income 37.84 39.48 4.4 %
Operating Income 32.02 33.16 3.6 %
Net Income 31.59 32.34 2.4 %
Average Shares 35.00 35.00 -
Earnings Per Share before unusual items (Riyal) 0.90 0.92 2.4 %
EPS (Riyal) 0.90 0.92 2.4 %

Total shareholders’ equity, excluding minority interest, increased 21.25% YoY to SAR 356.5 million for 2021. 

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