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.
| 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 | 25.00 | 25.00 | - |
| EPS (Riyals) | 4.56 | 4.13 | (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.
| 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 | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.26 | 1.29 | 2.4 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 137.93 | 163.20 | 18.3 % |
| Gross Income | 35.33 | 39.48 | 11.8 % |
| Operating Income | 25.30 | 33.16 | 31.1 % |
| Net Income | 22.34 | 32.34 | 44.8 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 0.89 | 1.29 | 44.8 % |
Total shareholders’ equity, excluding minority interest, increased 21.25% YoY to SAR 356.5 million for 2021.
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