Alkhorayef Water net profit down 16% to SAR 48.7 mln in H1 2021

Alkhorayef Water net profit down 16% to SAR 48.7 mln in H1 2021

12/08/2021 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 48.7 million for the first half of 2021, a 16% drop from SAR 57.7 million a year earlier. 

 

The profit drop was attributed to Zakat fees worth SAR 5.16 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) to pay any charges related to Zakat. Accordingly, no Zakat-related fees were charged for the previous periods.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 250.77 267.90 6.8 %
Gross Income 72.60 76.65 5.6 %
Operating Income 59.34 54.13 (8.8 %)
Net Income 57.67 48.65 (15.6 %)
Average Shares 35.00 35.00 -
EPS (Riyals) 1.65 1.39 (15.6 %)

In Q2 2021, net profit after Zakat and tax falls 17% year-on-year (YoY) to SAR 21.7 million, hurt by Zakat fees worth SAR 2.09 million for the current quarter for the first time.

 

When compared to the previous quarter, net profit after Zakat and tax dropped 19.4% from SAR 27 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 118.03 134.89 14.3 %
Gross Income 34.04 38.49 13.1 %
Operating Income 27.02 24.39 (9.7 %)
Net Income 26.17 21.71 (17.1 %)
Average Shares 35.00 35.00 -
EPS (Riyals) 0.75 0.62 (17.1 %)


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 %)
Q2 2021 134.89 14.3 % 38.49 13.1 % 24.39 (9.7 %)


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
Q2 2021 21.71 (17.1 %) 0.62 - 21.71 0.62

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 %
Q2 2021 27.38 % 24.46 % 19.51 %


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
Q2 2021 35.00 3.00 3.00 8.72

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
Q2 2021 28.39 28.39 9.76

Business Segments (Million)

Compared With The
Period Water Sewage Water Integrated Water solutions
Q1 2021 69.45 44.65 18.92
Q2 2021 72.58 42.64 19.67


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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