{"id":77378,"date":"2023-05-11T07:10:43","date_gmt":"2023-05-11T07:10:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/"},"modified":"2023-05-11T07:10:43","modified_gmt":"2023-05-11T07:10:43","slug":"marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/","title":{"rendered":"Marafiq 1Q 2023\u2019s net income down on back of higher financing costs"},"content":{"rendered":"

Not the best quarter for Marafiq:<\/strong> The Saudi Public Investment Fund-backed Marafiq<\/a>saw its net income fall 25.3% y-o-y in 1Q 2023 to SAR 106.7 mn on the back of higher financing costs, according to a disclosure to Tadawu<\/a>l<\/a>. Revenues were up by a marginal c.1% y-o-y during the first three months of the year to report SAR 1.47 bn.<\/p>\n

What they said:<\/strong> \u201cThe reason for the decrease in net income is due to increase in financing costs, despite the increase in the company's operating revenues as a result of the increase in the quantities sold in most of the company's main sectors,\u201d Marafiq said.<\/p>\n

What do they do? <\/strong>Marafiq has core businesses including water supply, sewage, and waste management and treatment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Not the best quarter for Marafiq: The Saudi Public Investment Fund-backed Marafiqsaw its net income fall 25.3% y-o-y in 1Q 2023 to SAR 106.7 mn on the back of higher financing costs, according to a disclosure to Tadawul. Revenues were up by a marginal c.1% y-o-y during the first three months of the year to […]<\/p>\n","protected":false},"author":1,"featured_media":77379,"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":[105,11,359,293],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseclimate","tag-marafiq","tag-pif","wpautop","entry"],"acf":{"mongo_id":"2e88b161-46ed-4cdb-a80b-5a1151bfc0ca","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/151.jpg","photo_position":"above","related_issue":[77366],"teaser":"","voice_url":""},"yoast_head":"\nMarafiq 1Q 2023\u2019s net income down on back of higher financing costs - 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\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marafiq 1Q 2023\u2019s net income down on back of higher financing costs\" \/>\n<meta property=\"og:description\" content=\"Not the best quarter for Marafiq: The Saudi Public Investment Fund-backed Marafiqsaw its net income fall 25.3% y-o-y in 1Q 2023 to SAR 106.7 mn on the back of higher financing costs, according to a disclosure to Tadawul. Revenues were up by a marginal c.1% y-o-y during the first three months of the year to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T07:10:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/151.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\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Marafiq 1Q 2023\u2019s net income down on back of higher financing costs\",\"datePublished\":\"2023-05-11T07:10:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\"},\"wordCount\":132,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/151.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EARNINGS WATCH\",\"EnterpriseClimate\",\"marafiq\",\"PIF\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\",\"name\":\"Marafiq 1Q 2023\u2019s net income down on back of higher financing costs - 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