Financial Results : Al Jouf Cement turns to losses of SAR 73.3 mln in 2020

Al Jouf Cement turns to losses of SAR 73.3 mln in 2020

30/03/2021 Argaam Exclusive

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Al Jouf Cement Co. reported a net loss after Zakat and tax of SAR 73.3 million for 2020 from a net profit of SAR 5.3 million in 2019.

 

The company attributed the losses to booking provisions on old investments of SAR 99 million represented in the investment in Eastern Industrial Co. from 2007 and credit provisions represented in the value of selling the share of Al-Jouf Investments Co., owned by Al-Jouf Cement in Across Bridges Co. in 2012.



Financials (M)

Item 2019 2020 Change‬
Revenues 169.75 252.00 48.5 %
Gross Income 31.71 73.28 131.1 %
Operating Income 8.36 48.03 474.6 %
Net Income 5.26 (98.54) (1974.8 %)
Average Shares 108.70 108.70 -
EPS (Riyals) 0.05 (0.91) (1974.8 %)

The company turned to a net loss after Zakat and tax of SAR 104 million in Q4 2020, compared to a net profit of SAR 2.52 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 39.73 67.77 70.6 %
Gross Income 10.21 15.48 51.7 %
Operating Income 3.55 8.61 142.3 %
Net Income 2.54 (129.22) (5183.5 %)
Average Shares 108.70 108.70 -
EPS (Riyals) 0.02 (1.19) (5183.5 %)

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