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ACWA POWER Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,251,757 | 1,331,444 | -5.985 | 1,809,518 | -30.823 |
| Gross Profit (Loss) | 620,553 | 701,445 | -11.532 | 1,122,078 | -44.696 |
| Operational Profit (Loss) | 401,158 | 558,961 | -28.231 | 880,867 | -54.458 |
| Net profit (Loss) | 296,171 | 269,735 | 9.8 | 579,637 | -48.904 |
| Total Comprehensive Income | 1,592,546 | -367,013 | - | -2,510,778 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 20,719,779 | 18,292,874 | 13.266 |
| Profit (Loss) per Share | 0.41 | 0.37 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | SAR 80 million decrease in the consolidated revenue during the current quarter compared to the same quarter of the last year is mainly due to (1) lower development and construction management fees received from projects (2) lower finance lease income mainly due to a forced outage in one of the Company’s plants in Morocco. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | SAR 26 million increase in net profit attributable to equity holders of the parent during the current quarter compared to the same quarter of the last year is mainly due to: • (1) higher share in net results of equity accounted investees (2) higher other operating income (3) finance and other income. Which are partially offset mainly by • (1) higher impairment loss (2) higher general & administrative expenses (3) higher finance charges (4) higher zakat & tax charge. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | SAR 558 million decrease in the consolidated revenue during the current quarter compared to the previous one is mainly due to (1) lower development and construction management fees received from projects (2) lower operation and maintenance revenue. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | SAR 283 million decrease in net profit attributable to equity holders of the parent during the current quarter compared to the previous one is mainly due to: • (1) lower gross profit on account of lower revenue (2) higher impairment loss recognized in current period (3) higher zakat & tax charge Which are partially offset mainly by: • (1) higher other income (2) higher share in net results of equity accounted investees (3) lower general & administrative expenses. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Other Matter The interim condensed consolidated financial statements of the Group for the three-months period ended 31 March 2023 were reviewed by another auditor who expressed an unmodified conclusion on those interim condensed consolidated financial statements on 20 Shawwal 1444H corresponding to 10 May 2023. |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to conform with the presentation in the current period |
| Additional Information | A comprehensive Investor Report comprising the Company’s Interim condensed consolidated financial statements and the independent auditor’s review report for the period ended 31 March 2024, along with the CEO’s letter to shareholders and a management discussion and analysis of the financial results, is available on ACWA’s Power’s Investor Relations website at https://acwapower.com/en/investor-relations/overview/. The company will hold an investor conference call on 9 May 2024 at 16:00 KSA time, (13:00 GMT) following the close of trading on Tadawul. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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