Alkhorayef Water net profit drops 15% to SAR 26.9 mln in Q1 2021

Alkhorayef Water net profit drops 15% to SAR 26.9 mln in Q1 2021

20/05/2021 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 26.9 million for the first quarter of 2021, a 15% decline from SAR 31.5 a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 132.74 133.02 0.2 %
Gross Income 39.58 38.16 (3.6 %)
Operating Income 32.32 29.73 (8.0 %)
Net Income 31.49 26.94 (14.5 %)
Average Shares 35.00 35.00 -
EPS (Riyals) 0.90 0.77 (14.5 %)

The profit drop was attributed to charging of Zakat fees worth SAR 3.07 million for the current quarter for the first time. The Zakat declaration was previously issued on a consolidated basis at the parent company level. The parent company pledged to the Capital Market Authority (CMA) that any charges related to Zakat will be paid by the parent company. Accordingly, no Zakat related fees were charged for the previous periods.

When compared to the previous quarter, net profit after Zakat and tax dropped 14.7% from SAR 31.6 million.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 87.02 - 26.29 - 20.15 -
Q2 2019 97.79 - 29.06 - 23.63 -
Q3 2019 112.65 - 30.58 - 24.52 -
Q4 2019 125.77 - 33.43 - 25.92 -
Q1 2020 132.74 52.5 % 39.58 50.6 % 32.32 60.4 %
Q2 2020 118.03 20.7 % 34.04 17.1 % 27.02 14.3 %
Q3 2020 129.50 15.0 % 32.82 7.3 % 25.46 3.8 %
Q4 2020 140.57 11.8 % 37.84 13.2 % 32.02 23.5 %
Q1 2021 133.02 0.2 % 38.16 (3.6 %) 29.73 (8.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 21.22 - 0.61 2.39 18.84 0.54
Q2 2019 22.04 - 0.63 - 22.04 0.63
Q3 2019 22.93 - 0.66 - 22.93 0.66
Q4 2019 25.54 - 0.73 2.00 23.54 0.67
Q1 2020 31.49 48.4 % 0.90 - 31.49 0.90
Q2 2020 26.17 18.8 % 0.75 - 26.17 0.75
Q3 2020 24.70 7.7 % 0.71 - 24.70 0.71
Q4 2020 31.59 23.7 % 0.90 - 31.59 0.90
Q1 2021 26.94 (14.5 %) 0.77 - 26.94 0.77

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 28.20 % 25.74 % 20.64 %
Q1 2020 28.29 % 25.99 % 21.32 %
Q2 2020 28.14 % 25.82 % 21.29 %
Q3 2020 27.64 % 25.35 % 20.93 %
Q4 2020 27.70 % 25.89 % 21.88 %
Q1 2021 27.41 % 25.69 % 20.99 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 35.00 - - -
Q2 2019 35.00 - - -
Q3 2019 35.00 - - -
Q4 2019 35.00 2.62 2.50 6.15
Q1 2020 35.00 2.91 2.86 8.03
Q2 2020 35.00 3.03 2.98 7.34
Q3 2020 35.00 3.08 3.03 7.48
Q4 2020 35.00 3.26 3.26 8.40
Q1 2021 35.00 3.13 3.13 9.17

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 23.53 23.53 8.02

Business Segments (Million)

Compared With The
Period Water Sewage Water Integrated Water solutions
Q1 2021 69.45 44.65 18.92


Financial Ratios
Current
Market Cap (M Riyal) 5,033.00
Enterprise Value (EV) (M) 5,374.07
Shares Outstanding ((M)) 35.00
EPS ( Riyal) (TTM) 5.42
Book Value (BV) ( Riyal) 19.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.93
P/E (TTM) 26.51
Price/book 7.21
Return on Average Assets (%) (TTM) 9.7
Return on Average Equity (%) (TTM) 31.5
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Share Price

Alkhorayef Water and Power Technologies Co.
143.80
1.80 1.27 %

Alkhorayef Water and Power Technologies Co. (AWPT)

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