Hail Cement swings to SAR 5.9 mln loss in 9M 2022; Q3 profit at SAR 7.8 mln

31/10/2022 Argaam Exclusive

Hail Cement Co. incurred a net loss after Zakat and tax of SAR 5.9 million for the first nine months of 2022, versus a net profit of SAR 47.2 million in a prior-year period, driven by lower average selling price and higher cost of sales, in addition to recording losses from financial investments at fair value during the current period.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 203.88 268.22 31.6 %
Gross Income 63.69 32.95 (48.3 %)
Operating Income 45.25 16.12 (64.4 %)
Net Income 47.17 (5.90) (112.5 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.48 (0.06) (112.5 %)

Hail Cement also cited provisions of SAR 10 million for one of the government agencies, despite the increase in the value of sales during the current period.

 

Q3 net profit after Zakat and tax increased 31% year-on-year (YoY) to SAR 7.8 million, from SAR 5.9 million in a year-earlier period, on higher sales volume and value, and lower general and administrative expenses.

 

On a sequential basis, the cement producer turned to profit, from SAR 6.83 million loss in Q2 2022.  



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 56.08 103.28 84.2 %
Gross Income 12.33 16.63 34.9 %
Operating Income 6.38 11.14 74.6 %
Net Income 5.96 7.82 31.3 %
Average Shares 97.90 97.90 -
EPS (Riyals) 0.06 0.08 31.3 %

Total shareholders’ equity, after minority interest, reached SAR 1.054 billion as of Sept. 30, 2022, compared to SAR 1.161 billion in the prior-year period.

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Share Price

Hail Cement Co.
11.60
0.02 0.17 %


Financial Ratios
Current
Market Cap (M Riyal) 1,135.64
Enterprise Value (EV) (M) 1,030.72
Shares Outstanding ((M)) 97.90
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 10.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.16
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 2.0
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