Alkhorayef 9M 2022 net profit up 12% to SAR 79.8 mln; Q3 at SAR 28.1 mln

Alkhorayef 9M 2022 net profit up 12% to SAR 79.8 mln; Q3 at SAR 28.1 mln

06/11/2022 Argaam Exclusive

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Alkhorayef Water and Power Technologies Co. (AWPT) reported a net profit after Zakat and tax of SAR 79.8 million for the first nine months of 2022, a 12% hike from SAR 71 million in the year-earlier period.

 

This profit rise was driven by a 36% year-on-year (YoY) rise in revenue during the nine-month period to SAR 551.5 million on higher revenue from water, integrated water solutions sector and wastewater segments.

 



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 405.83 551.46 35.9 %
Gross Income 111.98 133.62 19.3 %
Operating Income 79.43 97.57 22.8 %
Net Income 70.98 79.76 12.4 %
Average Shares 35.00 35.00 -
EPS (Riyals) 2.03 2.28 12.4 %

Q3 net profit after Zakat and tax jumped 26% YoY to SAR 28.1 million, from SAR 22.34 million in the prior-year period, on a YoY increase in revenue to SAR 193.5 million.

 

On a sequential basis, net profit grew 7% from SAR 26.33 million



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 137.93 193.50 40.3 %
Gross Income 35.33 44.34 25.5 %
Operating Income 25.30 32.94 30.2 %
Net Income 22.34 28.13 25.9 %
Average Shares 35.00 35.00 -
EPS (Riyals) 0.64 0.80 25.9 %

Total shareholders’ equity, after minority rights, reached SAR 398.767 million as of Sept. 30, 2022, compared to SAR 327.515 million in prior-year period.

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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 %
Q2 2022 184.43 36.7 % 45.72 18.8 % 34.60 41.9 %
Q3 2022 193.50 40.3 % 44.34 25.5 % 32.94 30.2 %


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
Q2 2022 26.33 21.3 % 0.75 - 26.33 0.75
Q3 2022 28.13 25.9 % 0.80 - 28.13 0.80

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 %
Q2 2022 24.90 % 23.06 % 16.13 %
Q3 2022 24.22 % 22.88 % 15.69 %


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
Q2 2022 35.00 3.04 3.04 10.59
Q3 2022 35.00 3.20 3.20 11.39

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
Q2 2022 26.80 26.80 7.69
Q3 2022 28.76 28.76 8.08

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
Q2 2022 79.20 39.69 65.54
Q3 2022 81.59 44.83 67.08


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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