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ACWA Power notches highest close since debut
29/02/2024
Argaam Exclusive
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ACWA Power ended the trading today, Feb. 29, 2% higher at SAR 264, its highest closing since debut on Tadawul.
The stock hit an intraday high of SAR 265.
| Year High (SAR) | Year Low (SAR) |
| 262.38 | 129.90 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 262.38 | 62.67 |
Today’s advance brought the stock’s gains to more than 80% in the past 12 months.
Market Data :
| Open | 234.10 |
| Low | 230.60 |
| High | 239.30 |
| Previous Close | 233.90 |
| Change (3M) | 4.06 % |
| Change (6M) | (24.56 %) |
| Market Value | 182,654.57 |
| Avg. Volume (3M) | 429,817.12 |
| Avg. Turnover (3M) | 94,892,408.98 |
| Avg. Transaction (3M) | 6,045.85 |
| Change(12M) | (45.09 %) |
| YTD | (40.16 %) |
ACWA Power Co. has not made any capital changes since its listing on Tadawul in October 2021.
The company’s board of directors recommended today raising capital by 0.20% through a 1-for-500 bonus share distribution.
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2025 | Right Issue | 7,664.90 | 4.63% |
| 2024 | Split | 7,325.62 | 0.20% |
| 2021 | IPO | 7,311.00 | 13.21% |
ACWA Power’s 2023 net profit rose to SAR 1.66 billion from SAR 1.54 billion a year earlier. The fourth-quarter net profit reached nearly SAR 579.6 million.
Financial Performance :
Overview :
Established in 2008 under the name of International Company for Water and Power Projects, the company initially operated as a Saudi closed joint-stock with capital of SAR 2.92 billion in Riyadh. The company was converted into a public joint-stock company in 2021 and subsequently changed its name to ACWA POWER Co. in early 2022.
The company’s main scope of business includes water and energy supply services, encompassing the development, investment, operation, and maintenance of power...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 182,654.75 |
| Shares Outstanding ((M)) | 766.49 |
| EPS ( ) (TTM) | 2.36 |
| Book Value (BV) ( Riyal) (Latest announcement) | 29.08 |
| Recurring P/E | More than 100 |
| Price/book | 8.51 |
| Dividend Yield (%) (Last Year) | 0.18 |
| Return on Average Assets (%) (TTM) | 3.03 |
| Return on Average Equity (%) (TTM) | 8.27 |
| Par Value ( Riyal) | 10.00 |
| Enterprise Value (EV) (M Riyal) | 210,534.29 |
| EV/adj EBITDA | 92.06 |
| EV/Revenues | 29.25 |
Calendar :
-
29 April
Ex-dividend Date
- -
29 April
Eligibility for bonus shares
- -
29 April
General Assembly
- -
13 May
Cash Dividend Distribution
- -
02 January
General Assembly
- -
18 June
Conferences
-
Analyst Estimates :
254.46
Fair Average Price
1
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Neutral | Al Rajhi Capital | 243.77 | 254.46 | 4.39 % |
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