Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 13.8 million in Q1 2022, a decline of 55% from SAR 31 million in the year-earlier period, driven by lower sales value and volume.
The Saudi cement producer also cited higher selling and marketing expenses, general and administrative expenses for the current quarter.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 90.41 | 65.60 | (27.4 %) |
| Gross Income | 40.86 | 23.80 | (41.7 %) |
| Operating Income | 37.82 | 20.45 | (45.9 %) |
| Net Income | 31.04 | 14.51 | (53.3 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.56 | 0.26 | (53.3 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 67.58 | 65.60 | (2.9 %) |
| Gross Income | 27.93 | 23.80 | (14.8 %) |
| Operating Income | 24.24 | 20.45 | (15.6 %) |
| Net Income | 19.51 | 14.51 | (25.6 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.35 | 0.26 | (25.6 %) |
On a sequential basis, net earnings dropped 13.9% from SAR 16.1 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, rose 1.5% year-on-year (YoY) to SAR 762.946 million in Q1 2022.
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