Tabuk Cement Co. reported a net profit after Zakat and tax of SAR 17.4 million for the first nine months of 2021, a 55% plunge from SAR 38.9 million in the same period last year.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 196.90 | 174.22 | (11.5 %) |
| Gross Income | 46.92 | 39.20 | (16.5 %) |
| Operating Income | 30.04 | 19.61 | (34.7 %) |
| Net Income | 38.92 | 17.42 | (55.3 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.43 | 0.19 | (55.3 %) |
The decline was attributed to lower value and volume of sales, along with amortization of the cash flow adjustment.
Additionally, the company cited an increase in selling, general and Zakat expenses during the period.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 71.49 | 48.00 | (32.9 %) |
| Gross Income | 19.49 | 8.79 | (54.9 %) |
| Operating Income | 13.83 | 2.55 | (81.5 %) |
| Net Income | 9.47 | 8.48 | (10.4 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.11 | 0.09 | (10.4 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 49.26 | 48.00 | (2.5 %) |
| Gross Income | 9.46 | 8.79 | (7.1 %) |
| Operating Income | 2.98 | 2.55 | (14.2 %) |
| Net Income | (1.13) | 8.48 | 851.9 % |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | (0.01) | 0.09 | 851.9 % |
The net profit after Zakat and tax dipped 11% year-on-year (YoY) to SAR 8.5 million in Q3 2021.
On a sequential basis, Q3 net profit jumped from SAR 1.9 million.
Shareholders’ equity, after minority interest, increased to SAR 1.266 billion as of Sept. 30, 2021, from SAR 1.226 billion a year earlier.
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