Tabuk Cement Co. reported a net loss after Zakat and tax of SAR 6.9 million for the first quarter of 2022, against a net profit of SAR 10.1 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 76.96 | 62.18 | (19.2 %) |
| Gross Income | 20.95 | 5.02 | (76.1 %) |
| Operating Income | 14.08 | (2.49) | (117.7 %) |
| Net Income | 10.06 | (6.92) | (168.8 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.11 | (0.08) | (168.8 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 54.31 | 62.18 | 14.5 % |
| Gross Income | 9.41 | 5.02 | (46.7 %) |
| Operating Income | 4.30 | (2.49) | (157.9 %) |
| Net Income | 0.34 | (6.92) | (2124.0 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.00 | (0.08) | (2124.0 %) |
The cement producer cited a decrease in average selling prices and other revenue, along with an increase in cost of revenue due to the periodic maintenance of the company’s factory.
Tabuk Cement turned to losses in the current quarter, against a net profit of SAR 340,000 in the fourth quarter of 2021, hurt by lower average selling prices.
Total shareholders’ equity, after minority interest, stood at SAR 1.260 billion for the three-month period, compared to SAR 1.259 billion in Q1 2021.
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