Declared Dividend • May 01
Dividend of ر.ع0.002 announced Shareholders will receive a dividend of ر.ع0.002. Ex-date: 2nd June 2026 Payment date: 1st January 1970 Dividend yield will be 3.9%, which is lower than the industry average of 10%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 61% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.0% EPS decline seen over the last 5 years. Announcement • Apr 23
Al Batinah Power Company Saog Announces the Resignation of Makoto Imabayashi as Member of the Board of Director, Effective 20 April 2026 Al Batinah Power Company SAOG announced the resignation of Makoto Imabayashi as member of the Board of Directors of the company due to personal reason with effect from 20 April 2026. The appointment of new member shall be informed in due course. Reported Earnings • Apr 15
First quarter 2026 earnings released: ر.ع0.039 loss per share (vs ر.ع0.002 loss in 1Q 2025) First quarter 2026 results: ر.ع0.039 loss per share (further deteriorated from ر.ع0.002 loss in 1Q 2025). Revenue: ر.ع14.5m (up 26% from 1Q 2025). Net loss: ر.ع26.0m (loss widened ر.ع24.7m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 86% per year, which means it is well ahead of earnings. New Risk • Apr 15
New major risk - Revenue and earnings growth Earnings have declined by 3.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: ر.ع0.023 (vs ر.ع0.021 in FY 2024) Full year 2025 results: EPS: ر.ع0.023 (up from ر.ع0.021 in FY 2024). Revenue: ر.ع85.5m (up 7.5% from FY 2024). Net income: ر.ع15.3m (up 8.5% from FY 2024). Profit margin: 18% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 20
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Feb 18
Al Batinah Power Company SAOG, Annual General Meeting, Mar 25, 2026 Al Batinah Power Company SAOG, Annual General Meeting, Mar 25, 2026. Reported Earnings • Jan 17
Full year 2025 earnings released: EPS: ر.ع0.023 (vs ر.ع0.021 in FY 2024) Full year 2025 results: EPS: ر.ع0.023 (up from ر.ع0.021 in FY 2024). Revenue: ر.ع84.7m (up 6.5% from FY 2024). Net income: ر.ع15.3m (up 8.6% from FY 2024). Profit margin: 18% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 17
Al Batinah Power Company Saog Appoints Michael Cunningham as Temporary Director and the Chairperson of the Company Effective 14 January 2026 Al Batinah Power Company SAOG appointed Michael Cunningham as temporary Director and the Chairperson of the Company effective 14 January 2026. Mr. Michael Cunningham is a senior executive with over 30 years of experience in the power generation and desalination industry. His career began in operations and maintenance of thermal power plants and progressed into executive management roles within power companies, giving him broad expertise across most facets of the industry. He holds a Bachelor of Science degree and an MBA in Business Management from the Open University, along with a Higher National Certificate (HNC) in Mechanical/Electrical Engineering from Watford College of Technology. Board Change • Dec 08
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Non-Independent Director Makoto Imabayashi was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • May 28
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Non-Independent Director Makoto Imabayashi was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Declared Dividend • Apr 26
Dividend reduced to ر.ع0.002 Dividend of ر.ع0.002 is 33% lower than last year. Ex-date: 2nd June 2025 Payment date: 1st January 1970 Dividend yield will be 15%, which is higher than the industry average of 10%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 25
Al Batinah Power Company SAOG announces Annual dividend Al Batinah Power Company SAOG announced Annual dividend of OMR 0.0020 per share, ex-date on June 02, 2025 and record date on June 01, 2025. Reported Earnings • Apr 15
First quarter 2025 earnings released: ر.ع0.002 loss per share (vs ر.ع0.002 loss in 1Q 2024) First quarter 2025 results: ر.ع0.002 loss per share (in line with 1Q 2024). Revenue: ر.ع11.3m (down 4.6% from 1Q 2024). Net loss: ر.ع1.36m (loss widened 2.6% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 14
Al Batinah Power Company SAOG Determines Cash Dividends for June 2025 and December 2025 The Board of Directors of Al Batinah Power Company SAOG determined and distribute cash dividends to the Shareholders of the Company in June 2025 and December 2025 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2024, provided that the aggregate amount shall not exceed 8.5 Baizas per share. Unanimously Approved, at its AGM. Announcement • Mar 13
Al Batinah Power Company SAOG Approves to Elect the New Board of Directors Al Batinah Power Company SAOG approved to elect the new Board of Directors from amongst shareholders or non-shareholders. Nominees Winning: Jelena Ortise, Yusra Al Busaidi, Sadiqa Al Lawati, Ali Al Balushi, Huda Al Amari and Yahya Al Hinai. Board Change • Mar 06
High number of new directors Non-Independent Director Makoto Imabayashi was the last director to join the board, commencing their role in 2023. Announcement • Feb 18
Al Batinah Power Company SAOG, Annual General Meeting, Mar 13, 2025 Al Batinah Power Company SAOG, Annual General Meeting, Mar 13, 2025. Board Change • Nov 19
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non-Independent Director Makoto Imabayashi was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 11
Third quarter 2024 earnings released: EPS: ر.ع0.013 (vs ر.ع0.012 in 3Q 2023) Third quarter 2024 results: EPS: ر.ع0.013 (up from ر.ع0.012 in 3Q 2023). Revenue: ر.ع27.8m (flat on 3Q 2023). Net income: ر.ع8.66m (up 6.0% from 3Q 2023). Profit margin: 31% (up from 30% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 13
Second quarter 2024 earnings released: EPS: ر.ع0.013 (vs ر.ع0.012 in 2Q 2023) Second quarter 2024 results: EPS: ر.ع0.013 (up from ر.ع0.012 in 2Q 2023). Revenue: ر.ع26.1m (up 20% from 2Q 2023). Net income: ر.ع8.64m (up 4.4% from 2Q 2023). Profit margin: 33% (down from 38% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Apr 18
First quarter 2024 earnings released: ر.ع0.002 loss per share (vs ر.ع0.003 loss in 1Q 2023) First quarter 2024 results: ر.ع0.002 loss per share (improved from ر.ع0.003 loss in 1Q 2023). Revenue: ر.ع11.8m (up 149% from 1Q 2023). Net loss: ر.ع1.33m (loss narrowed 24% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: ر.ع0.019 (vs ر.ع0.018 in FY 2022) Full year 2023 results: EPS: ر.ع0.019 (up from ر.ع0.018 in FY 2022). Revenue: ر.ع66.8m (flat on FY 2022). Net income: ر.ع12.7m (up 4.4% from FY 2022). Profit margin: 19% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year. New Risk • Aug 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Omani stocks, typically moving 4.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (83% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.7% average weekly change). Market cap is less than US$100m (ر.ع17.5m market cap, or US$45.6m). Reported Earnings • May 01
First quarter 2023 earnings released: ر.ع0.003 loss per share (vs ر.ع0.003 loss in 1Q 2022) First quarter 2023 results: ر.ع0.003 loss per share (in line with 1Q 2022). Revenue: ر.ع4.72m (down 23% from 1Q 2022). Net loss: ر.ع1.75m (loss narrowed 7.4% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 16
Full year 2022 earnings released: EPS: ر.ع0.018 (vs ر.ع0.016 in FY 2021) Full year 2022 results: EPS: ر.ع0.018 (up from ر.ع0.016 in FY 2021). Revenue: ر.ع66.8m (up 28% from FY 2021). Net income: ر.ع12.2m (up 9.4% from FY 2021). Profit margin: 18% (down from 21% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 independent directors. 8 non-independent directors. Non Executive Non Independent Director Ryuji Kikuchi was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: ر.ع0.012 (vs ر.ع0.011 in 2Q 2021) Second quarter 2022 results: EPS: ر.ع0.012 (up from ر.ع0.011 in 2Q 2021). Revenue: ر.ع24.2m (up 13% from 2Q 2021). Net income: ر.ع7.98m (up 4.4% from 2Q 2021). Profit margin: 33% (down from 36% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
First quarter 2022 earnings released First quarter 2022 results: Revenue: ر.ع6.08m (up 17% from 1Q 2021). Net loss: ر.ع1.89m (loss narrowed 11% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 independent directors. 8 non-independent directors. Non Executive Non Independent Director Ryuji Kikuchi was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 02
Third quarter 2021 earnings released: EPS ر.ع0.011 (vs ر.ع0.011 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ر.ع20.4m (down 11% from 3Q 2020). Net income: ر.ع7.71m (up 1.3% from 3Q 2020). Profit margin: 38% (up from 33% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Executive Departure • Sep 21
Director Kazuichi Ikeda has left the company On the 14th of September, Kazuichi Ikeda's tenure as Director ended. We don't have any record of a personal shareholding under Kazuichi's name. Kazuichi is the only executive to leave the company over the last 12 months. Reported Earnings • Jul 14
Second quarter 2021 earnings released: EPS ر.ع0.011 (vs ر.ع0.011 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ر.ع21.4m (up 31% from 2Q 2020). Net income: ر.ع7.64m (up 2.1% from 2Q 2020). Profit margin: 36% (down from 46% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 17
First quarter 2021 earnings released: ر.ع0.003 loss per share (vs ر.ع0.003 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2021 results: Revenue: ر.ع5.21m (down 17% from 1Q 2020). Net loss: ر.ع2.13m (loss narrowed 7.5% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue beats expectations Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is expected to shrink by 5.6% compared to a 10% growth forecast for the Renewable Energy industry in Oman. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ر.ع0.016 (vs ر.ع0.014 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.ع50.6m (up 2.9% from FY 2019). Net income: ر.ع10.6m (up 8.9% from FY 2019). Profit margin: 21% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 15
Third quarter earnings released Over the last 12 months the company has reported total profits of ر.ع10.3m, up 4.7% from the prior year. Total revenue was ر.ع50.4m over the last 12 months, down 14% from the prior year.