Umm Al-Qura Cement H1 2024 profit soars to SAR 30.1M; Q2 at SAR 15.6M

30/07/2024 Argaam Exclusive

Umm Al-Qura Cement Co.'s H1 2024 net earnings surged to SAR 30.1 million, compared with SAR 8.6 million in the prior-year period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 84.99 131.20 54.4 %
Gross Income 26.24 48.76 85.8 %
Operating Income 18.83 40.12 113.0 %
Net Income 8.60 30.05 249.3 %
Average Shares 55.00 55.00 -
EPS (Riyals) 0.16 0.55 249.3 %

The profit growth was spurred by higher sales due to an increase in sales volumes and value amid improved average selling prices. This was in addition to returning cement production rates to normal levels, paired with lower financing costs.

 

The cement producer’s Q2 2024 net profit also soared to SAR 15.58 million, from SAR 1.83 million a year before, driven by higher sales on an uptick in sales volumes and value.

 

On a sequential basis, Q2 net profit rose 7.7% from SAR 14.47 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 37.83 66.52 75.8 %
Gross Income 10.99 25.13 128.6 %
Operating Income 7.20 20.61 186.1 %
Net Income 1.82 15.58 753.9 %
Average Shares 55.00 55.00 -
EPS (Riyals) 0.03 0.28 753.9 %

Total shareholders’ equity, no minority interest, stood at SAR 796.13 million by the end of H1 2024, advancing from SAR 770.75 million in the year-earlier period.

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Share Price

Umm Al-Qura Cement Co.
17.92
0.04 0.22 %

Umm Al-Qura Cement Co. (UACC)

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Financial Ratios
Current
Market Cap (M Riyal) 985.60
Enterprise Value (EV) (M) 1,242.10
Shares Outstanding ((M)) 55.00
EPS ( Riyal) (TTM) 0.62
Book Value (BV) ( Riyal) 14.66
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 29.03
P/E (TTM) 29.03
Price/book 1.22
Return on Average Assets (%) (TTM) 2.9
Return on Average Equity (%) (TTM) 4.3
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