City Cement posts 16% profit rise to SAR 220.5 mln in 2020

28/02/2021 Argaam Exclusive

City Cement Co. reported a net profit after Zakat and tax of SAR 220.5 million in 2020, compared to a net profit of SAR 190 million a year earlier, backed by higher sales revenue and volumes, along with a rise in other revenue.



Financials (M)

Item 2019 2020 Change‬
Revenues 531.38 572.73 7.8 %
Gross Income 231.11 256.96 11.2 %
Operating Income 195.03 219.81 12.7 %
Net Income 190.10 220.49 16.0 %
Average Shares 140.00 140.00 -
EPS (Riyals) 1.36 1.57 16.0 %

In Q4 2020, the cement producer posted a decrease of 5% year-on-year (YoY) in net profit after Zakat and tax to SAR 62.7 million.

 

Shareholders’ equity, excluding minority interest, stood at SAR 1.845 billion in 2020, a drop of 18.3% YoY.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 158.26 152.99 (3.3 %)
Gross Income 81.36 65.33 (19.7 %)
Operating Income 71.94 55.90 (22.3 %)
Net Income 65.90 57.27 (13.1 %)
Average Shares 140.00 140.00 -
EPS (Riyals) 0.47 0.41 (13.1 %)

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Share Price

City Cement Co.
17.80
0.28 1.60 %

City Cement Co. (CITY CEMENT)

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Financial Ratios
Current
Market Cap (M Riyal) 2,492.00
Enterprise Value (EV) (M) 2,097.28
Shares Outstanding ((M)) 140.00
EPS ( Riyal) (TTM) 0.92
Book Value (BV) ( Riyal) 12.52
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.36
P/E (TTM) 19.36
Price/book 1.42
Return on Average Assets (%) (TTM) 6.9
Return on Average Equity (%) (TTM) 7.4
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