Financial Results : Eastern Cement Q1 2025 profit drops 21% to SAR 62.1M

Eastern Cement Q1 2025 profit drops 21% to SAR 62.1M

04/05/2025 Argaam Exclusive

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Eastern Province Cement Co. posted a net profit of SAR 62.1 million for the first quarter of 2025, down 21% from SAR 79 million in the same period last year.​



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 305.69 298.52 (2.3 %)
Gross Income 103.49 97.03 (6.2 %)
Operating Income 82.93 77.00 (7.1 %)
Net Income 79.01 62.08 (21.4 %)
Average Shares 86.00 86.00 -
Earnings Per Share before unusual items (Riyal) 0.92 0.78 (15.0 %)
EPS (Riyal) 0.92 0.72 (21.4 %)

The decline in earnings was attributed to a drop in revenue due to lower sales volumes of precast concrete, alongside higher selling and marketing expenses, as well as lower dividend income and Murabaha returns. The company also cited an impairment loss on an investment in an associate, higher other expenses, and a decrease in fair value gains on investments through profit or loss.

 

Compared to the previous quarter, Eastern Cement’s profits also declined by 20.8% from SAR 78.36 million.

 

Shareholders’ equity, no minority interest, stood at SAR 2.26 billion at the end of the current period, down from SAR 2.37 billion a year earlier.

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