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.
| 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 | 19.74 | (5.8 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.23 | 0.22 | (5.8 %) |
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.
| 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 | (5.42) | (130.8 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.20 | (0.06) | (130.8 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 54.13 | 66.29 | 22.5 % |
| Gross Income | 5.51 | 2.07 | (62.4 %) |
| Operating Income | (2.30) | (6.25) | (171.5 %) |
| Net Income | (4.15) | (5.42) | (30.7 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | (0.05) | (0.06) | (30.7 %) |
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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