Yanbu Cement profit falls 44% to SAR 119.9M in 2023; Q4 at SAR 18.1M

13/03/2024 Argaam Exclusive

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Yanbu Cement Co.
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0.05 0.17 %

Yanbu Cement Co. (YCC)

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Yanbu Cement Co. reported a decline of 44% in net profit to SAR 119.9 million in 2023, from SAR 215.4 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 981.17 780.55 (20.4 %)
Gross Income 276.44 189.20 (31.6 %)
Operating Income 225.00 126.21 (43.9 %)
Net Income 215.41 119.92 (44.3 %)
Average Shares 157.50 157.50 -
EPS (Riyals) 1.37 0.76 (44.3 %)

The profit decline was attributed to lower sales revenues and higher financing costs, despite the increase in other revenues.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 239.27 193.92 (19.0 %)
Gross Income 69.11 23.14 (66.5 %)
Operating Income 58.79 4.42 (92.5 %)
Net Income 59.16 18.09 (69.4 %)
Average Shares 157.50 157.50 -
EPS (Riyals) 0.38 0.11 (69.4 %)

Total shareholders’ equity, no minority interest, declined to SAR 2.65 billion as of Dec. 31, 2023, from SAR 2.76 billion a year earlier.

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