Financial Results : Tabuk Cement 2023 profit falls 6% to SAR 19.7M; Q4 loss at SAR 5.4M

Tabuk Cement 2023 profit falls 6% to SAR 19.7M; Q4 loss at SAR 5.4M

31/03/2024 Argaam Exclusive

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Tabuk Cement Co. reported a net profit of SAR 19.7 million for 2023, declining 6% from SAR 21 million in the year-earlier period on lower sales value and volume along with higher Zakat provision.



Financials (M)

Item 2022 2023 Change‬
Revenues 297.55 265.08 (10.9 %)
Gross Income 63.43 53.16 (16.2 %)
Operating Income 36.18 21.80 (39.8 %)
Net Income 20.97 15.01 (28.4 %)
Average Shares 90.00 90.00 -
Earnings Per Share before unusual items (Riyals) 0.23 0.17 (28.4 %)
EPS (Riyal) 0.23 0.17 (28.4 %)

The cement producer reported a net loss of SAR 5.4 million in Q4 2023, versus net earnings of SAR 17.6 million a year earlier.

 

On a quarterly basis, the company’s losses expanded from SAR 4.15 million in Q3 2023.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 87.44 66.29 (24.2 %)
Gross Income 26.44 2.07 (92.2 %)
Operating Income 20.65 (6.25) (130.3 %)
Net Income 17.61 (10.15) (157.7 %)
Average Shares 90.00 90.00 -
Earnings Per Share before unusual items (Riyal) 0.20 (0.11) (157.7 %)
EPS (Riyal) 0.20 (0.11) (157.7 %)

Total shareholders’ equity, no minority interest, stood at SAR 1.29 billion by Dec. 31, 2023, compared to SAR 1.28 billion in the prior-year period.

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