Al Jouf Cement Co. reported a net profit of SAR 30.9 million in 2022, against a loss of SAR 92.6 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 226.52 | 251.86 | 11.2 % |
| Gross Income | 20.99 | 73.43 | 249.9 % |
| Operating Income | (62.16) | 61.85 | 199.5 % |
| Net Income | (92.64) | 30.89 | 133.3 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | (0.85) | 0.28 | 133.3 % |
The profit was driven by higher value and quantity of sales, in addition to the improvement in prices and lower costs.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 50.01 | 79.43 | 58.8 % |
| Gross Income | (43.31) | 27.48 | 163.4 % |
| Operating Income | (108.55) | 32.89 | 130.3 % |
| Net Income | (122.47) | 23.14 | 118.9 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | (1.13) | 0.21 | 118.9 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 74.14 | 79.43 | 7.1 % |
| Gross Income | 19.16 | 27.48 | 43.4 % |
| Operating Income | 13.84 | 32.89 | 137.7 % |
| Net Income | 5.94 | 23.14 | 289.7 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.05 | 0.21 | 289.7 % |
In Q4 2022, the company turned to a net profit of SAR 23.1 million against a loss of SAR 122.47 million in Q4 2021.
Sequentially, the company quadrupled its profit in Q4 compared to SAR 5.94 million in Q3 2022.
Shareholders’ equity, excluding minority interest, stood at SAR 1.13 billion as of Dec. 31, 2022, from SAR 1.10 billion a year earlier.
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