Riyadh Cement Co. posted a marginal decrease of 0.6% in net profit to SAR 188.8 million for 2023, from SAR 189.8 million a year earlier, despite higher revenues on increased sales volumes.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 598.01 | 643.38 | 7.6 % |
| Gross Income | 231.55 | 236.90 | 2.3 % |
| Operating Income | 200.75 | 200.60 | (0.1 %) |
| Net Income | 189.84 | 188.77 | (0.6 %) |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 1.58 | 1.57 | (0.6 %) |
The annual earnings were hurt by higher general and administrative expenses, as well as Zakat charges.
| Item | Q4 2022 | Q4 2023 | Change |
|---|
| Item | Q3 2023 | Q4 2023 | Change |
|---|
Shareholders’ equity, no minority interest, stood at SAR 1.679 billion as of Dec. 31, 2023, up from SAR 1.675 billion in the year-earlier period.
|
Riyadh Cement’s Interim Financials |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2019 |
266.90 |
72.13 |
0.60 |
|
H2 2019 |
327.10 |
117.92 |
0.98 |
|
H1 2020 |
298.88 |
121.33 |
1.01 |
|
H2 2020 |
291.41 |
98.62 |
0.82 |
|
H1 2021 |
401.44 |
160.39 |
1.34 |
|
H2 2021 |
269.63 |
53.34 |
0.44 |
|
H1 2022 |
258.61 |
82.68 |
0.69 |
|
H2 2022 |
339.40 |
107.16 |
0.89 |
|
H1 2023 |
344.75 |
126.65 |
1.06 |
|
H2 2023 |
298.63 |
62.12 |
0.52 |
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