Yamama Cement Co. reported a net profit of SAR 210.7 million in the first half of 2023, a 75% increase compared to SAR 120.3 million in H1 2022, on higher sales value, increased other revenue, and lower Zakat provisions.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 430.86 | 502.09 | 16.5 % |
| Gross Income | 141.48 | 220.68 | 56.0 % |
| Operating Income | 104.37 | 184.48 | 76.8 % |
| Net Income | 120.31 | 210.71 | 75.1 % |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.59 | 1.04 | 75.1 % |
Net earnings grew in the second quarter by 8% year-on-year (YoY) to SAR 98.3 million. The cement producer reported a rise in other income and lower Zakat provisions.
On a quarterly basis, net profit dropped 12.5% from SAR 112.40 million in Q1 2023 on lower sales revenue and volume.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 209.29 | 218.94 | 4.6 % |
| Gross Income | 100.75 | 83.56 | (17.1 %) |
| Operating Income | 81.06 | 67.39 | (16.9 %) |
| Net Income | 90.70 | 98.31 | 8.4 % |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.45 | 0.49 | 8.4 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 279.86 | 218.94 | (21.8 %) |
| Gross Income | 133.84 | 83.56 | (37.6 %) |
| Operating Income | 117.09 | 67.39 | (42.4 %) |
| Net Income | 112.40 | 98.31 | (12.5 %) |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.56 | 0.49 | (12.5 %) |
Shareholders’ equity, no minority interest, stood at SAR 4.65 billion as of June 30, 2023, compared to SAR 4.39 billion in a prior-year period.
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