Financial Results : Southern Cement nets SAR 243.8M profit in 2024; Q4 at SAR 98.6M

Southern Cement nets SAR 243.8M profit in 2024; Q4 at SAR 98.6M

27/03/2025 Argaam Exclusive

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Southern Province Cement Co. (SPCC) reported a 25% increase in 2024 net profit to SAR 243.8 million, from SAR 195.4 million in 2023.

 


Financials (M)

Item 2023 2024 Change‬
Revenues 1,070.26 935.03 (12.6 %)
Gross Income 276.51 343.32 24.2 %
Operating Income 199.99 261.60 30.8 %
Net Income 195.40 243.75 24.7 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 1.27 1.71 33.8 %
EPS (Riyals) 1.40 1.74 24.7 %

The positive performance is driven by higher average selling price, lower cost of goods sold, lower selling and distribution expenses and higher other revenues.

 

 Q4 2024 earnings reached nearly SAR 98.57 million, up 32.8% from SAR 74.21 million in the year-earlier period.

 

 On a sequential basis, net profit grew 85.8% from SAR 53.05 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 257.95 237.52 (7.9 %)
Gross Income 88.39 124.71 41.1 %
Operating Income 64.77 110.85 71.1 %
Net Income 74.21 98.57 32.8 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 0.41 0.70 72.1 %
EPS (Riyals) 0.53 0.70 32.8 %

Total shareholders’ equity, without minority interest, stood at SAR 3.37 billion by Dec. 31, 2023, compared to SAR 3.28 billion a year ago.

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