Southern Cement nets SAR 244M profit in 2024; Q4 at SAR 99M

27/03/2025 Argaam Exclusive

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Southern Province Cement Co. reported a 25% increase in 2024 net profit to SAR 244 million, from SAR 195 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,070.26 935.00 (12.6 %)
Gross Income 276.51 343.00 24.0 %
Operating Income 203.00 268.00 32.0 %
Net Income 195.00 244.00 25.1 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 1.27 1.71 34.3 %
EPS (Riyals) 1.39 1.74 25.1 %

The positive performance is driven by higher average selling price, lower cost of goods sold, lower selling and distribution expenses and higher other revenues.

 

Q4 2024 earnings reached nearly SAR 99 million, up 34% from SAR 73.8 million in the year-earlier period.

 

On a sequential basis, net profit grew 86.3% from SAR 53.05 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 257.95 237.00 (8.1 %)
Gross Income 88.39 124.00 40.3 %
Operating Income 68.00 117.00 72.1 %
Net Income 73.81 98.82 33.9 %
Average Shares 140.00 140.00 -
Earnings Per Share before unusual items (Riyals) 0.41 0.71 73.7 %
EPS (Riyals) 0.53 0.71 33.9 %

Total shareholders’ equity, without minority interest, stood at SAR 3.37 billion by Dec. 31, 2023, compared to SAR 3.28 billion a year ago.

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Share Price

Southern Province Cement Co.
33.30
0.90 2.78 %

Southern Province Cement Co. (SPCC)

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Financial Ratios
Current
Market Cap (M Riyal) 4,662.00
Enterprise Value (EV) (M) 5,002.92
Shares Outstanding ((M)) 140.00
EPS ( Riyal) (TTM) 1.74
Book Value (BV) ( Riyal) 24.08
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.50
P/E (TTM) 19.11
Price/book 1.38
Return on Average Assets (%) (TTM) 5.9
Return on Average Equity (%) (TTM) 6.5
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