Financial Results : Riyadh Cement 2024 net profit jumps 64% to SAR 310.4M; Q4 at SAR 81.3M

Riyadh Cement 2024 net profit jumps 64% to SAR 310.4M; Q4 at SAR 81.3M

19/03/2025 Argaam Exclusive

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Riyadh Cement Co. reported a net profit of SAR 310.4 million in 2024, an increase of 64% from SAR 188.8 million in 2023.


Financials (M)

Item 2023 2024 Change‬
Revenues 643.38 789.40 22.7 %
Gross Income 236.90 328.77 38.8 %
Operating Income 199.61 292.94 46.8 %
Net Income 188.77 310.44 64.5 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items (Riyals) 1.57 2.38 51.2 %
EPS (Riyal) 1.57 2.59 64.5 %
This was spurred by an increase in revenue, other income, and financing income, in addition to refunding withholding tax from the Zakat and Customs Authority amounting to SAR 25 million, which was reversed against the Zakat expenses.
 
Q4 2024 net profit surged 87% to SAR 81.3 million, from SAR 43.42 million in the prior-year period.
 
On a quarterly basis, net earnings dropped 14% from SAR 94.58 million in Q3 2024.


Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 171.48 233.84 36.4 %
Gross Income 55.14 88.76 61.0 %
Operating Income 45.78 81.37 77.7 %
Net Income 43.42 81.33 87.3 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items (Riyal) 0.36 0.68 87.3 %
EPS (Riyal) 0.36 0.68 87.3 %

Total shareholders’ equity, no minority interest, stood at SAR 1.78 billion by Dec. 31, 2024, compared to SAR 1.67 billion a year earlier.

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