Alkhorayef Water net profit drops 6% to SAR 25.3 mln in Q1 2022

Alkhorayef Water net profit drops 6% to SAR 25.3 mln in Q1 2022

18/05/2022 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 25.3 million for the first quarter of 2022, a 6% decline from SAR 26.9 million a year earlier. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 133.02 173.53 30.5 %
Gross Income 38.16 43.56 14.2 %
Operating Income 29.73 30.02 1.0 %
Net Income 26.94 25.31 (6.1 %)
Average Shares 35.00 35.00 -
EPS (Riyals) 0.77 0.72 (6.1 %)

The profit drop was attributed higher general and administrative expenses and increase in Zakat provision. The company also cited the increase in revenue by SAR 40.5 million which commensurate with the growth in the cost of revenue and increase in gross profit by SAR 5.4 million, due to rise in the number of projects. 

 

When compared to the previous quarter, net profit after Zakat and tax dropped 21.7% from SAR 32.34 million. 

Total shareholders’ equity, after minority interest, reached SAR 344.315 million in Q1 2022, a rise of 7.27% compared to SAR 320.970 million in Q1 2021. 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q3 2021 137.93 6.5 % 35.33 7.7 % 25.30 (0.6 %)
Q4 2021 163.20 16.1 % 39.48 4.4 % 33.16 3.6 %
Q1 2022 173.53 30.5 % 43.56 14.2 % 30.02 1.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q3 2021 22.34 (9.5 %) 0.64 - 22.34 0.64
Q4 2021 32.34 2.4 % 0.92 - 32.34 0.92
Q1 2022 25.31 (6.1 %) 0.72 - 25.31 0.72

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q3 2021 27.42 % 24.19 % 18.77 %
Q4 2021 26.62 % 23.76 % 18.16 %
Q1 2022 25.73 % 22.62 % 16.68 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2021 35.00 2.93 2.93 9.36
Q4 2021 35.00 2.95 2.95 10.19
Q1 2022 35.00 2.91 2.91 9.84

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2021 30.36 30.36 9.51
Q4 2021 24.77 24.77 7.18
Q1 2022 23.69 23.69 7.00

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
Q3 2021 70.91 39.32 27.70
Q4 2021 61.35 50.15 51.70
Q1 2022 66.94 46.39 60.20


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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