Arabian Cement’s profit declines 11% to SAR 184.9 mln in 2020

01/03/2021 Argaam Exclusive

Arabian Cement Co. reported a net profit after Zakat and tax of SAR 184.9 million in 2020, down 11% compared to SAR 208.7 million in the previous year.



Financials (M)

Item 2019 2020 Change‬
Revenues 781.97 871.92 11.5 %
Gross Income 315.71 302.54 (4.2 %)
Operating Income 256.76 230.82 (10.1 %)
Net Income 208.72 184.94 (11.4 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 2.09 1.85 (11.4 %)

The decline was attributed to an increase in cost of goods sold (COGS) and selling and marketing expenses due to higher volume of export and Zakat provision in the parent company.

 

However, the cement producer reported increase in sales volume and value in Saudi Arabia and higher dividends from investments, along with lower general and administrative (G&A) expenses and financial charges. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 234.72 290.80 23.9 %
Gross Income 96.13 96.95 0.9 %
Operating Income 78.01 69.45 (11.0 %)
Net Income 73.63 53.33 (27.6 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.74 0.53 (27.6 %)

The Q4 2020 profit fell 28% year-on-year (YoY) to SAR 53.3 million.

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Share Price

Arabian Cement Co.
26.50
0.35 1.34 %

Arabian Cement Co. (ACC)

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Financial Ratios
Current
Market Cap (M Riyal) 2,650.00
Enterprise Value (EV) (M) 2,763.41
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 1.62
Book Value (BV) ( Riyal) 25.35
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.39
P/E (TTM) 16.40
Price/book 1.05
Return on Average Assets (%) (TTM) 5.2
Return on Average Equity (%) (TTM) 6.4
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