Saudi Cement Co. posted a net profit after Zakat and tax of SAR 331.9 million for 2021, down 27% from SAR 456 million in the year-earlier period.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 1,569.63 | 1,409.57 | (10.2 %) |
| Gross Income | 666.38 | 530.39 | (20.4 %) |
| Operating Income | 479.07 | 344.30 | (28.1 %) |
| Net Income | 455.96 | 331.92 | (27.2 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 2.98 | 2.17 | (27.2 %) |
The company attributed the profit decline to lower sales revenues because of the decrease in average local selling prices despite the increase in local sold quantities, share in net results of associates, other income, and the decrease in financial charges.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 435.01 | 327.45 | (24.7 %) |
| Gross Income | 176.75 | 109.01 | (38.3 %) |
| Operating Income | 124.38 | 64.91 | (47.8 %) |
| Net Income | 124.12 | 67.40 | (45.7 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.81 | 0.44 | (45.7 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 304.93 | 327.45 | 7.4 % |
| Gross Income | 109.05 | 109.01 | 0.0 % |
| Operating Income | 62.75 | 64.91 | 3.4 % |
| Net Income | 58.72 | 67.40 | 14.8 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.38 | 0.44 | 14.8 % |
In Q4 2021, the cement producer posted a 46% decline in net profit to SAR 67.4 million compared with a year earlier.
On a sequential basis, Q4 2021 increased by 14.7% from SAR 58.72 million.
Shareholders' equity, excluding minority interest, at the end of the period amounted to SAR 2.433 billion, compared to SAR 2.652 billion a year earlier.
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