Al Jouf Cement Co. widened its net loss after Zakat and tax to SAR 151 million in 2021, an increase of 53% from SAR 98.5 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 252.00 | 226.52 | (10.1 %) |
| Gross Income | 73.28 | 20.99 | (71.4 %) |
| Operating Income | 48.03 | (62.16) | (229.4 %) |
| Net Income | (98.54) | (92.64) | 6.0 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | (0.91) | (0.85) | 6.0 % |
The higher losses were attributed to lower sales revenue amid a decline in average selling prices, despite improved exports and lower general and marketing expenses, in addition.
The company also recorded provisions of SAR 142 million in 2021.
In Q4 2021, the cement producer widened its net loss after Zakat and tax to SAR 182.3 million, from SAR 129.2 million in the year-ago period.
Sequentially, the company swung to net losses against a net profit of SAR 3.70 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 67.77 | 50.01 | (26.2 %) |
| Gross Income | 15.48 | (43.31) | (379.7 %) |
| Operating Income | 8.61 | (108.55) | (1360.3 %) |
| Net Income | (129.22) | (122.47) | 5.2 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | (1.19) | (1.13) | 5.2 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 54.89 | 50.01 | (8.9 %) |
| Gross Income | 14.80 | (43.31) | (392.7 %) |
| Operating Income | 8.91 | (108.55) | (1318.6 %) |
| Net Income | 4.14 | (122.47) | (3060.3 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.04 | (1.13) | (3060.3 %) |
Shareholders’ equity, after minority interest, dropped 12% to SAR 1.090 billion in 2021, from SAR 1.242 billion in 2020.
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