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ACWA Power sees 17.5% lower profits in 2021

ACWA Power sees 17.5% lower profits in 2021
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ACWA POWER
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Riyadh – Mubasher: The net profits after Zakat and tax of the International Company for Water and Power Projects (ACWA Power) retreated by 17.56% to SAR 743.90 million in 2021, compared to SAR 902.38 million in the earlier year.

The company generated revenues of SAR 5.36 billion in 2021, up 11.01% from SAR 4.82 billion in 2020, according to a bourse filing on Wednesday.

The earnings per share (EPS) settled at SAR 1.14 last year, against SAR 1.37 in 2020.

It is noteworthy to mention that during the first nine months (9M) of 2021, the company registered SAR 434 million net profits after Zakat and tax, down 52.9% year-on-year (YoY) from SAR 922.86 million.