Najran Cement H1 2024 profit falls 20% SAR 29M; Q2 at SAR 7.5M

07/08/2024 Argaam Exclusive

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Najran Cement Co.’s profits declined 20% in the first half of 2024 to SAR 29 million from SAR 36.3 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 244.98 251.39 2.6 %
Gross Income 70.78 64.30 (9.2 %)
Operating Income 49.14 42.90 (12.7 %)
Net Income 36.34 29.04 (20.1 %)
Average Shares 170.00 170.00 -
Earnings Per Share before unusual items (Riyals) 0.21 0.17 (20.1 %)
EPS (Riyals) 0.21 0.17 (20.1 %)

This was attributed to a decline in sales volume and higher cost of production inputs, despite a decline in general and administrative expenses. However, the company posted higher sales in the six-month period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 101.30 113.27 11.8 %
Gross Income 25.46 24.17 (5.1 %)
Operating Income 13.92 14.58 4.7 %
Net Income 7.36 7.50 1.8 %
Average Shares 170.00 170.00 -
Earnings Per Share before unusual items (Riyals) 0.04 0.04 1.8 %
EPS (Riyals) 0.04 0.04 1.8 %

The company’s net profit rose 2% in Q2 2024 to SAR 7.5 million from SAR 7.3 million in Q2 2023, driven by higher sales.

 

On a quarterly basis, net earnings dropped 65.2% from SAR 21.55 million in Q1 2024.

 

Total shareholders’ equity, with no minority interests, stood at SAR 2.03 billion as of June 30, 2024, compared to SAR 1.96 billion in a prior-year period.



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Share Price

Najran Cement Co.
8.58
0.07 0.82 %

Najran Cement Co. (NAJRAN CEMENT)

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Financial Ratios
Current
Market Cap (M Riyal) 1,446.70
Enterprise Value (EV) (M) 1,727.53
Shares Outstanding ((M)) 170.00
EPS ( Riyal) (TTM) 0.40
Book Value (BV) ( Riyal) 12.01
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 21.14
P/E (TTM) 21.14
Price/book 0.71
Return on Average Assets (%) (TTM) 2.8
Return on Average Equity (%) (TTM) 3.4
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