Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit of SAR 110.3 million for the first nine months of 2023, a 38% hike from SAR 79.8 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 551.46 | 1,206.87 | 118.9 % |
| Gross Income | 133.62 | 189.94 | 42.1 % |
| Operating Income | 97.57 | 150.20 | 53.9 % |
| Net Income | 79.76 | 110.33 | 38.3 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 3.19 | 4.41 | 38.3 % |
This profit rise was driven by revenues that soared by 118.9% year-on-year (YoY) to SAR 1.20 billion in the nine-month period. Operating profit also leapt 53.6% YoY to SAR 150.4 million.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 193.50 | 468.77 | 142.3 % |
| Gross Income | 44.34 | 71.35 | 60.9 % |
| Operating Income | 33.14 | 55.08 | 66.2 % |
| Net Income | 28.13 | 42.02 | 49.4 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.13 | 1.68 | 49.4 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 416.49 | 468.77 | 12.6 % |
| Gross Income | 61.82 | 71.35 | 15.4 % |
| Operating Income | 49.46 | 55.08 | 11.3 % |
| Net Income | 35.59 | 42.02 | 18.1 % |
| Average Shares | 25.00 | 25.00 | - |
| EPS (Riyals) | 1.42 | 1.68 | 18.1 % |
Q3 net profit jumped 49% YoY to SAR 42 million, from SAR 28.13 million in the prior-year period, on a YoY surge of 142.25% in revenue to SAR 468.8 million.
On a sequential basis, net profit grew 18.1% from SAR 35.59 million in Q2 2023.
Total shareholders’ equity, no minority rights, reached SAR 507.91 million as of Sept. 30, 2023, compared to SAR 398.76 million in the prior-year period.
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