{"id":80395,"date":"2023-11-02T03:00:53","date_gmt":"2023-11-02T03:00:53","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/11\/02\/saudis-marafiq-reports-a-y-o-y-drop-in-net-income-and-revenues\/"},"modified":"2023-11-02T03:00:53","modified_gmt":"2023-11-02T03:00:53","slug":"saudis-marafiq-reports-a-y-o-y-drop-in-net-income-and-revenues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/11\/02\/saudis-marafiq-reports-a-y-o-y-drop-in-net-income-and-revenues\/","title":{"rendered":"Saudi's Marafiq reports a y-o-y drop in net income and revenues"},"content":{"rendered":"

<\/a><\/strong>Marafiq reports a 39% y-o-y drop in 3Q<\/strong>:<\/strong> Saudi's utility firm Marafiq recorded a 39.2% y-o-y fall in net income in 3Q to SAR 188 mn, according to a Tadawul filing<\/a>. The company attributed its drop in net income to an increase in financing costs and a decrease in the company's operating revenues. Revenues also saw a 3.78% y-o-y drop to SAR 1.7 bn.<\/p>\n

3Q 2023 fared better than 2Q:<\/strong> The company reported a 17.9% bottom line increase from 2Q and its top line rose 6.68% from SAR 1.5 bn.<\/p>\n

What drove the growth:<\/strong> The increase in net income is due to a 6.86% growth in the company's operating revenues, a drop in the zakat, tax provision, and general and administrative expenses.<\/p>\n

About Marafiq<\/strong>:<\/strong> Marafiq is the power and water utility company for the Saudi cities of Jubail and Yanbu. It has core businesses in seawater cooling<\/a>, desalination, and waste treatment and management<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Marafiq reports a 39% y-o-y drop in 3Q: Saudi's utility firm Marafiq recorded a 39.2% y-o-y fall in net income in 3Q to SAR 188 mn, according to a Tadawul filing. The company attributed its drop in net income to an increase in financing costs and a decrease in the company's operating revenues. Revenues also […]<\/p>\n","protected":false},"author":1,"featured_media":80396,"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":[105,11,359,159,411],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseclimate","tag-marafiq","tag-saudi-arabia","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"79078a2b-dc0f-4574-b4d6-bd9c0943c3c5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/210.jpg","photo_position":"above","related_issue":[80385],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.f4977343-ba97-4477-9f32-b0758f4fb05c.mp3"},"yoast_head":"\nSaudi's Marafiq reports a y-o-y drop in net income and revenues - 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\/11\/02\/saudis-marafiq-reports-a-y-o-y-drop-in-net-income-and-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi's Marafiq reports a y-o-y drop in net income and revenues\" \/>\n<meta property=\"og:description\" content=\"Marafiq reports a 39% y-o-y drop in 3Q: Saudi's utility firm Marafiq recorded a 39.2% y-o-y fall in net income in 3Q to SAR 188 mn, according to a Tadawul filing. 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