Umm Al-Qura Cement’s H1 2022 net profit declines 55% to SAR 22.2 mln; Q2 at SAR 8.3 mln

18/08/2022 Argaam Exclusive

Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 22.2 million in H1 2022, a slump of 55% compared to SAR 49.5 million in the prior-year period.

 

The decline was triggered by lower sales value, higher selling and marketing expenses, and, increased general and administrative expenses, despite lower financing costs.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 154.30 125.08 (18.9 %)
Gross Income 68.81 41.67 (39.4 %)
Operating Income 62.27 34.30 (44.9 %)
Net Income 49.45 23.18 (53.1 %)
Average Shares 55.00 55.00 -
EPS (Riyals) 0.90 0.42 (53.1 %)

The cement producer’s Q2 2022 net profit after Zakat and tax dropped 55% to SAR 8.3 million from SAR 18.41 million a year earlier, driven by lower value of sales, higher cost of sales and increased selling and marketing expenses.

 

On a sequential basis, Q2 net profit dropped by 39.8% from SAR 13.85 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 63.90 59.48 (6.9 %)
Gross Income 27.95 17.86 (36.1 %)
Operating Income 24.45 13.85 (43.3 %)
Net Income 18.41 8.68 (52.9 %)
Average Shares 55.00 55.00 -
EPS (Riyals) 0.33 0.16 (52.9 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 758.301 million by the end of H1 2022, compared to SAR 747.709 million in the year-earlier period.

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Share Price

Umm Al-Qura Cement Co.
17.52
(0.02) (0.11 %)

Umm Al-Qura Cement Co. (UACC)

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Financial Ratios
Current
Market Cap (M Riyal) 963.60
Enterprise Value (EV) (M) 1,236.59
Shares Outstanding ((M)) 55.00
EPS ( Riyal) (TTM) 0.62
Book Value (BV) ( Riyal) 14.66
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.38
P/E (TTM) 28.38
Price/book 1.20
Return on Average Assets (%) (TTM) 2.8
Return on Average Equity (%) (TTM) 4.3
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