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ACWA Power reports 9% rise in Q1-22 profits

ACWA Power reports 9% rise in Q1-22 profits
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ACWA POWER
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Riyadh – Mubasher: The International Company for Water and Power Projects (ACWA Power) reported a 9.21% year-on-year (YoY) increase in the net profits after Zakat and tax to SAR 151.85 million in the first quarter (Q1) of 2022, compared to SAR 139.03 million.

The company generated revenues of SAR 1.17 billion in Q1-22, down 5.13% from SAR 1.24 billion in the year-ago period, according to the company's interim financial results.

The earnings per share (EPS) settled at SAR 0.21 in the first three months (3M) of 2022, versus SAR 0.22 in the corresponding period of 2021.

It is noteworthy to mention that in 2021, the net profits after Zakat and tax of ACWA Power retreated by 17.56% to SAR 743.90 million, compared to SAR 902.38 million in the earlier year.