Saudi Cement Co. posted a decline of 5% in Q1 2025 net earnings to SAR 108.5 million, from SAR 113.8 million in the prior-year period.
Item | Q1 2024 | Q1 2025 | Change |
---|---|---|---|
Revenues | 426.52 | 418.25 | (1.9 %) |
Gross Income | 174.76 | 172.60 | (1.2 %) |
Operating Income | 119.32 | 115.99 | (2.8 %) |
Net Income | 113.76 | 108.49 | (4.6 %) |
Average Shares | 153.00 | 153.00 | - |
Earnings Per Share before unusual items (Riyal) | 0.74 | 0.71 | (4.6 %) |
EPS (Riyal) | 0.74 | 0.71 | (4.6 %) |
Item | Q4 2024 | Q1 2025 | Change |
---|---|---|---|
Revenues | 484.00 | 418.25 | (13.6 %) |
Gross Income | 194.28 | 172.60 | (11.2 %) |
Operating Income | 127.14 | 115.99 | (8.8 %) |
Net Income | 120.60 | 108.49 | (10.0 %) |
Average Shares | 153.00 | 153.00 | - |
Earnings Per Share before unusual items (Riyal) | 0.79 | 0.71 | (10.0 %) |
EPS (Riyal) | 0.79 | 0.71 | (10.0 %) |
The net profit drop was attributed to a decline in revenue on lower sales volumes and value. Other income and the company’s share in an associate’s net profit also decreased.
The cement producer also cited an increase in general and administrative (G&A) expenses, as well as Zakat provisions, despite a decline in finance costs.
Net earnings fell by 10% from SAR 120.6 million in Q4 2024 on a drop in sales revenue amid lower sales volumes and value.
Meanwhile, selling and distribution expenses, G&A, and finance costs fell.
Total shareholders’ equity, no minority interest, reached SAR 2.34 billion as of March 31, 2025, up from SAR 2.27 billion a year earlier.
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