Yamama Cement 2023 profit dips 15% to SAR 304.3M; Q4 at SAR 52.8M

12/02/2024 Argaam Exclusive

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Yamama Cement Co. reported a net profit of SAR 304.3 million in 2023, a 15% drop from SAR 355.8 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 1,008.11 935.19 (7.2 %)
Gross Income 408.65 335.36 (17.9 %)
Operating Income 332.04 263.56 (20.6 %)
Net Income 355.80 304.25 (14.5 %)
Average Shares 202.50 202.50 -
Earnings Per Share before unusual items (Riyals) 1.59 1.25 (21.4 %)
EPS (Riyal) 1.76 1.50 (14.5 %)

The annual net profit was hurt by lower sales volumes and value on subdued local demand in 2023. The company also reported higher finance costs for the same year.

 

The fourth-quarter net earnings fell by 61% to SAR 52.8 million from SAR 134.2 million in Q4 2022.

 

Sequentially, the cement producer’s profits tumbled by 29.4% from SAR 40.78 million in Q3 2023.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 334.43 224.68 (32.8 %)
Gross Income 161.06 80.37 (50.1 %)
Operating Income 131.09 58.28 (55.5 %)
Net Income 134.15 52.76 (60.7 %)
Average Shares 202.50 202.50 -
Earnings Per Share before unusual items (Riyal) 0.58 0.25 (57.3 %)
EPS (Riyal) 0.66 0.26 (60.7 %)

Shareholders’ equity, no minority interest, stood at SAR 4.73 billion as of Dec. 31, 2023, compared to SAR 4.65 billion a year earlier.

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Share Price

Yamama Cement Co.
29.70
0.00 0.00 %

Yamama Cement Co. (YC)

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Financial Ratios
Current
Market Cap (M Riyal) 6,014.26
Enterprise Value (EV) (M Riyal) 7,847.88
Shares Outstanding ((M)) 202.50
EPS ( Riyal) (TTM) 2.39
Book Value (BV) ( Riyal) 24.22
Par Value ( Riyal) 10.00
Recurring P/E 13.00
P/E (TTM) 12.42
Price/book 1.23
Return on Average Assets (%) (TTM) 6.8
Return on Average Equity (%) (TTM) 10.1
EV/adj EBITDA 11.12
EV/Revenues 5.74
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