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Power and Water Utility Company for Jubail and Yanbu announces its Annual Financial Results for the Period Ending on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 6,505.09 | 6,192.29 | 5.05 | ||
| Gross Profit (Loss) | 1,148.2 | 1,005.29 | 14.21 | ||
| Operational Profit (Loss) | 1,094.23 | 997.72 | 9.67 | ||
| Net Profit (Loss) after Zakat and Tax | 845.65 | 664.65 | 27.23 | ||
| Total Comprehensive Income | 1,083.34 | 761.6 | 42.24 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 8,244.86 | 7,551.09 | 9.19 | ||
| Profit (Loss) per Share | 3.38 | 2.53 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the increase in net profit is due to the increase in the Company's revenues as a result of the increase in the quantities sold to all the main sectors of the company, despite the increase in financing costs. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to be aligned with the presentation in the current year. |
| Additional Information | On January 22, 2023, the company received from the Zakat, Tax, and Customs Authority the final settlement letter related to the zakat differences for the years 2015, 2016, and 2017, with an amount of 64.2 Million Saudi riyals. In anticipation for the same, the company made an allowance for the entire settlement amount during the year 2022. After completing its listing process on 24 November 2022, Marafiq is no longer subject to income tax and is subject to Zakat only. Accordingly, deferred tax assets and liabilities arising as result of SAPCO’s shareholding in the Parent Company which were recognized in the consolidated statement of financial position as of the date of listing were charged off to consolidated income statement and consolidated statement of profit or loss and other comprehensive income. |
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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