Financial Results : Al Jouf Cement flips to SAR 27.7M loss in 2024; Q4 at SAR 58.4M

Al Jouf Cement flips to SAR 27.7M loss in 2024; Q4 at SAR 58.4M

20/04/2025 Argaam Exclusive

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Al Jouf Cement Co. reported a net loss of SAR 27.7 million for 2024, against a profit of SAR 37.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 269.28 256.50 (4.7 %)
Gross Income 69.80 15.84 (77.3 %)
Operating Income 44.83 (17.33) (138.7 %)
Net Income 37.68 (27.73) (173.6 %)
Average Shares 108.70 108.70 -
Earnings Per Share before unusual items (Riyals) (0.06) (0.71) (1,130.8 %)
EPS (Riyal) 0.35 (0.26) (173.6 %)

The 12-month losses were attributed to a 4.8% annual revenue decrease due to lower average selling prices and export sales volumes. This was despite an increase in domestic sales volumes.

 

Operating expenses also soared in 2024, in addition to higher financing costs, although other revenues strengthened by year-end.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 51.54 75.17 45.8 %
Gross Income (12.31) (8.19) 33.5 %
Operating Income (22.03) (22.55) (2.4 %)
Net Income (6.56) (4.74) 27.7 %
Average Shares 108.70 108.70 -
Earnings Per Share before unusual items (Riyal) (0.36) (0.33) 9.9 %
EPS (Riyal) (0.06) (0.04) 27.7 %

In Q4 2024, the company widened its net losses to SAR 58.4 million, from SAR 6.56 million in the prior-year period.

 

Sequentially, the company turned to loss-making against a net profit of SAR 10.04 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, fell to SAR 1.11 billion as of Dec. 31, 2024, from SAR 1.14 billion a year ago.

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