Saudi Cement Co. reported a net profit after Zakat and tax of SAR 264.5 million for the first nine months of 2021, a 20% decline compared to a net profit of SAR 331.8 million in the same period last year.
The company attributed the decrease in net profit to lower selling prices and higher selling and distribution expenses.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 1,134.62 | 1,082.12 | (4.6 %) |
| Gross Income | 489.63 | 421.39 | (13.9 %) |
| Operating Income | 354.69 | 279.39 | (21.2 %) |
| Net Income | 331.84 | 264.52 | (20.3 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 2.17 | 1.73 | (20.3 %) |
The company reported a net profit of SAR 58.7 million for Q3 2021, a 46% year-on-year (YoY) decrease.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 386.81 | 304.93 | (21.2 %) |
| Gross Income | 163.18 | 109.05 | (33.2 %) |
| Operating Income | 113.99 | 62.75 | (45.0 %) |
| Net Income | 107.64 | 58.72 | (45.4 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.70 | 0.38 | (45.4 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 348.12 | 304.93 | (12.4 %) |
| Gross Income | 138.70 | 109.05 | (21.4 %) |
| Operating Income | 91.96 | 62.75 | (31.8 %) |
| Net Income | 86.37 | 58.72 | (32.0 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.56 | 0.38 | (32.0 %) |
On a sequential basis, net profit fell 32% from SAR 86.4 million in Q2 2021.
Shareholders’ equity, after minority interest, dropped 5.9% to SAR 2.377 billion as of Sept. 30, 2021, from SAR 2.526 billion a year earlier.
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