{"id":82763,"date":"2024-03-04T00:00:00","date_gmt":"2024-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/acwa-power-reports-an-8-jump-in-net-income-in-2023\/"},"modified":"2024-03-04T00:00:00","modified_gmt":"2024-03-04T00:00:00","slug":"acwa-power-reports-an-8-jump-in-net-income-in-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/acwa-power-reports-an-8-jump-in-net-income-in-2023\/","title":{"rendered":"Acwa Power reports an 8% jump in net income in 2023"},"content":{"rendered":"

Acwa Power<\/strong>\u2019s net income rose 8% y-o-y to SAR 1.7 bn in 2023<\/strong>, while revenues were up 13.4%y-o-y to SAR 6.1 bn, it said in a disclosure to Tadawul<\/a>. The BoD of the energy giant has proposed a dividend payout of SAR 329 mn for 2023 at SAR 0.45 per share, it said in a separate disclosure<\/a>. The board has also recommended the issuance of bonus shares by way of capitalizing SAR 14.6 mn from retained earnings, granting shareholders one share for every 500 shares owned, it said in a further disclosure<\/a>.<\/p>\n

What they said: <\/strong>\u201cAcwa Power\u2019s results in 2023 is a demonstration of our strong business model fundamentals and the resilience of our balance sheet against high interest rate and inflation environments\u2026 Our strong performance in 2023 is another step towards our ultimate goal to triple the size of our business by the end of the decade\u2026 We are doubling down on our efforts to lead the energy transition globally, while supporting Saudi Arabia to deliver one of the most ambitious decarbonisation programs in the world,\u201d the company\u2019s CEO Marco Arcelli noted<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company saw its net profits surge to SAR 1.66 bn and a 13.4% hike in net revenues for the year<\/p>\n","protected":false},"author":1,"featured_media":82764,"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":[184,105,11,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-acwa-power","tag-earnings-watch","tag-enterpriseclimate","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"4b138ff8-24d0-450a-a02d-4b254955f4ae","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/202.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power reports an 8% jump in net income in 2023","related_issue":[82745],"teaser":"The company saw its net profits surge to SAR 1.66 bn and a 13.4% hike in net revenues for the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.8e9fed09-af43-48fd-bfee-dffeff082cc4.mp3"},"yoast_head":"\nAcwa Power reports an 8% jump in net income in 2023 - 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