Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 61.9 million for the first nine months of 2021, a decrease of 32%, from SAR 91.4 million in the same period a year ago.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 246.62 | 211.26 | (14.3 %) |
| Gross Income | 120.17 | 91.21 | (24.1 %) |
| Operating Income | 111.07 | 81.38 | (26.7 %) |
| Net Income | 91.40 | 61.93 | (32.2 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 1.66 | 1.13 | (32.2 %) |
The company attributed the profit drop to lower sales volumes and higher selling and marketing expenses, general and administrative expenses and Zakat expenses. This was partially offset by lower financing costs.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 87.61 | 56.96 | (35.0 %) |
| Gross Income | 41.62 | 22.40 | (46.2 %) |
| Operating Income | 38.55 | 19.11 | (50.4 %) |
| Net Income | 31.91 | 12.47 | (60.9 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.58 | 0.23 | (60.9 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 63.90 | 56.96 | (10.9 %) |
| Gross Income | 27.95 | 22.40 | (19.9 %) |
| Operating Income | 24.45 | 19.11 | (21.8 %) |
| Net Income | 18.41 | 12.47 | (32.3 %) |
| Average Shares | 55.00 | 55.00 | - |
| EPS (Riyals) | 0.33 | 0.23 | (32.3 %) |
The company’s net profit after Zakat and tax for Q3 2021 stood at SAR 12.5 million, declining by 61% year-on-year (YoY), due to lower sales volumes.
On a sequential basis, Q3 2021 net profit dropped 32.2% on higher financing costs.
Shareholder’s equity, excluding minority rights, in 9M 2021 stood at SAR 733 million, compared to SAR 694.2 million a year ago.
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