Eastern Cement posts SAR 181 mln net profit in FY2019

18/03/2020 Argaam Exclusive

Eastern Province Cement Co. reported a net profit after Zakat and tax of SAR 181 million for fiscal year 2019, an increase of 158.6% year-on-year (YoY), as compared to SAR 70 million in the same period a year earlier.



Financials (M)

Item 2018 2019 Change‬
Revenues 565.74 728.80 28.8 %
Gross Income 131.16 217.96 66.2 %
Operating Income 68.86 161.47 134.5 %
Net Income 69.75 180.70 159.1 %
Average Shares 86.00 86.00 -
EPS (Riyals) 0.81 2.10 159.1 %

The profit increase is attributed to higher sales revenue on an increase in sales volumes and improvement in selling prices, the company said in a Tadawul statement.

 

The company also cited an increase in investment income, a decrease in Zakat provisions, written-back credit loss provisions, as well as a reduction in losses from writing off properties, machinery and equipment.

 

The company also posted a net profit of SAR 66.8 million in Q4 2019, an increase of 158.8% YoY.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 153.44 215.00 40.1 %
Gross Income 39.71 69.95 76.1 %
Operating Income 24.01 59.39 147.4 %
Net Income 25.56 66.49 160.1 %
Average Shares 86.00 86.00 -
EPS (Riyals) 0.30 0.77 160.1 %

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Share Price

Eastern Province Cement Co.
33.65
(0.05) (0.15 %)

Eastern Province Cement Co. (EPCCO)

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Financial Ratios
Current
Market Cap (M Riyal) 2,902.50
Enterprise Value (EV) (M) 2,680.70
Shares Outstanding ((M)) 86.00
EPS ( Riyal) (TTM) 2.55
Book Value (BV) ( Riyal) 28.19
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 11.53
P/E (TTM) 13.23
Price/book 1.20
Return on Average Assets (%) (TTM) 7.7
Return on Average Equity (%) (TTM) 9.2
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