{"id":76333,"date":"2023-03-06T02:00:11","date_gmt":"2023-03-06T02:00:11","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/"},"modified":"2023-03-06T02:00:11","modified_gmt":"2023-03-06T02:00:11","slug":"acwa-power-reports-a-103-increase-in-net-income-for-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/","title":{"rendered":"Acwa Power reports a 103% increase in net income for 2022"},"content":{"rendered":"

<\/a> Saudi Arabia\u2019s Acwa Power reported SAR 1.5 mn in net income in 2022,<\/strong> rising 103% y-o-y<\/strong>, according to the company\u2019s earnings release<\/a>. The uptick in net income came on the back of \u201chigher operating income before impairment and other expenses,\u201d along with lower impairment losses compared to 2021 and revenues generated under Acwa\u2019s settlement of \u201clong-term financing and funding facilities and divestment of a partial stake in the company\u2019s Sirdarya project in Uzbekistan,\u201d the company notes.<\/p>\n

Dividend payouts:<\/strong> Shareholders in Acwa Power\u2019s parent company will receive dividends of SAR 2.11 per share.<\/p>\n

What they said<\/strong>: \u201cOur first full year as a public company involved many operational and financial developments \u2014 in addition to expanding in existing markets, we actively engaged in the<\/p>\n

debt capital markets and effectively recycled our capital in line with our long-term<\/p>\n

strategy,\u201d CFO Abdulhameed AlMuhaidi noted in the statement, adding that Acwa Power raised SAR1.8 bn in February in sukuk that was 2.24x oversubscribed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia\u2019s Acwa Power reported SAR 1.5 mn in net income in 2022, rising 103% y-o-y, according to the company\u2019s earnings release. The uptick in net income came on the back of \u201chigher operating income before impairment and other expenses,\u201d along with lower impairment losses compared to 2021 and revenues generated under Acwa\u2019s settlement of […]<\/p>\n","protected":false},"author":1,"featured_media":76334,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[106],"tags":[184,657,105,11],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-acwa-power","tag-earnings","tag-earnings-watch","tag-enterpriseclimate","wpautop","entry"],"acf":{"mongo_id":"7709870f-4889-4de2-a0bb-78730b4f809b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/2906.jpg","photo_position":"above","related_issue":[76319],"teaser":"","voice_url":""},"yoast_head":"\nAcwa Power reports a 103% increase in net income for 2022 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acwa Power reports a 103% increase in net income for 2022\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia\u2019s Acwa Power reported SAR 1.5 mn in net income in 2022, rising 103% y-o-y, according to the company\u2019s earnings release. The uptick in net income came on the back of \u201chigher operating income before impairment and other expenses,\u201d along with lower impairment losses compared to 2021 and revenues generated under Acwa\u2019s settlement of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-06T02:00:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/2906.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Acwa Power reports a 103% increase in net income for 2022\",\"datePublished\":\"2023-03-06T02:00:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/\"},\"wordCount\":166,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/2906.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ACWA Power\",\"earnings\",\"EARNINGS WATCH\",\"EnterpriseClimate\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/03\/06\/acwa-power-reports-a-103-increase-in-net-income-for-2022\/\",\"name\":\"Acwa Power reports a 103% increase in net income for 2022 - 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