Qassim Cement Co. reported net profit after Zakat and tax of SAR 419.8 million for 2020, rising 16% year-on-year (YoY).
The profit increase was driven by higher sales volumes, increase in revenue and lower selling and marketing expenses.
The cement producer also cited higher other revenue, despite rise in cost of sales, for the profit increase.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 791.79 | 898.42 | 13.5 % |
| Gross Income | 426.44 | 473.23 | 11.0 % |
| Operating Income | 379.99 | 422.28 | 11.1 % |
| Net Income | 360.74 | 419.84 | 16.4 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 4.01 | 4.66 | 16.4 % |
In Q4 2020, the company reported net profit after Zakat and tax of SAR 113.1 million, a decline of 22%, compared to SAR 144.1 million in the same period last year.
Shareholders' equity, excluding minority rights, at the end of the period amounted to SAR 1.809 billion, compared to SAR 1.784 million in the same period of the previous year.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 293.69 | 237.67 | (19.1 %) |
| Gross Income | 189.68 | 108.85 | (42.6 %) |
| Operating Income | 166.25 | 99.16 | (40.4 %) |
| Net Income | 144.09 | 113.09 | (21.5 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.60 | 1.26 | (21.5 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 231.58 | 237.67 | 2.6 % |
| Gross Income | 120.65 | 108.85 | (9.8 %) |
| Operating Income | 111.55 | 99.16 | (11.1 %) |
| Net Income | 110.11 | 113.09 | 2.7 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.22 | 1.26 | 2.7 % |
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