Saudi Electricity Company (TADAWUL: 5110)

Saudi Electricity Company Income Statement

Financials in millions SAR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	84,987	75,330	72,079	69,338	68,709	65,040
Revenue Growth (YoY)	15.96%	4.51%	3.95%	0.92%	5.64%	1.52%
Selling, General & Admin	1,894	1,552	1,610	204.45	1,167	244.89
Depreciation & Amortization	-	-	-	427.92	-	509.58
Provision for Bad Debts	89.89	-149.87	1,378	1,075	253.64	-
Other Operating Expenses	68,114	60,184	51,882	48,720	58,766	58,008
Total Operating Expenses	70,098	61,587	54,870	50,427	60,187	58,762
Operating Income	14,889	13,743	17,209	18,911	8,522	6,278
Interest Expense	-3,231	-3,691	-2,579	-2,472	-4,764	-4,730
Interest Income	633.27	358.69	106.11	70.83	52.66	88.11
Net Interest Expense	-2,598	-3,332	-2,473	-2,401	-4,711	-4,642
Income (Loss) on Equity Investments	90.47	83.67	307.75	-10.2	4.34	-40.23
Other Non-Operating Income (Expenses)	-	-	-	-	-	-9.73
EBT Excluding Unusual Items	12,382	10,495	15,044	16,500	3,815	1,586
Gain (Loss) on Sale of Assets	62.29	103.54	-46.58	48.58	-189.21	21.78
Asset Writedown	-	-	615.68	-863.44	-	-
Legal Settlements	-	-	-	-484.61	-	-
Other Unusual Items	-	-	-	-207.93	-808.09	-
Pretax Income	12,444	10,598	15,613	14,992	2,818	1,608
Income Tax Expense	395.52	348.98	416.62	455.93	-285.49	220.61
Earnings From Continuing Ops.	12,049	10,249	15,196	14,536	3,104	1,388
Earnings From Discontinued Ops.	-	-	-61.18	-145.39	-78.04	-
Net Income	12,049	10,249	15,135	14,391	3,026	1,388
Preferred Dividends & Other Adjustments	8,513	7,661	7,661	7,661	927.38	-
Net Income to Common	3,536	2,588	7,474	6,729	2,098	1,388
Net Income Growth	-0.27%	-32.28%	5.17%	375.65%	118.05%	-21.03%
Shares Outstanding (Basic)	4,167	4,167	4,167	4,167	4,167	4,167
Shares Outstanding (Diluted)	4,167	4,167	4,167	4,167	4,167	4,167
Shares Change (YoY)	-	-	-	-	0.00%	-
EPS (Basic)	0.85	0.62	1.79	1.62	0.50	0.33
EPS (Diluted)	0.85	0.62	1.79	1.62	0.50	0.33
EPS Growth	-20.00%	-65.37%	11.06%	220.73%	51.21%	-21.03%
Free Cash Flow	-11,908	183.32	12,470	20,119	4,738	4,292
Free Cash Flow Per Share	-2.86	0.04	2.99	4.83	1.14	1.03
Dividend Per Share	0.700	0.700	0.700	0.700	0.700	0.700
Profit Margin	4.16%	3.44%	10.37%	9.71%	3.05%	2.13%
Free Cash Flow Margin	-14.01%	0.24%	17.30%	29.02%	6.90%	6.60%
EBITDA	33,907	32,617	36,477	38,554	27,262	24,949
EBITDA Margin	39.90%	43.30%	50.61%	55.60%	39.68%	38.36%
D&A For EBITDA	19,018	18,874	19,268	19,643	18,740	18,671
EBIT	14,889	13,743	17,209	18,911	8,522	6,278
EBIT Margin	17.52%	18.24%	23.88%	27.27%	12.40%	9.65%
Effective Tax Rate	3.18%	3.29%	2.67%	3.04%	-	13.72%

Source: S&P Capital IQ. Utility template. Financial Sources.