Financial Results : Najran Cement profit rises 24% to SAR 68.4M in 2024; Q4 at SAR 21.5M

Najran Cement profit rises 24% to SAR 68.4M in 2024; Q4 at SAR 21.5M

16/03/2025 Argaam Exclusive

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Najran Cement Co. reported a net profit of SAR 68.4 million for 2024, an increase of 24% from SAR 55.2 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 485.65 534.51 10.1 %
Gross Income 128.16 145.23 13.3 %
Operating Income 83.46 97.95 17.4 %
Net Income 55.16 68.43 24.1 %
Average Shares 170.00 170.00 -
Earnings Per Share before unusual items (Riyals) 0.32 0.40 24.1 %
EPS (Riyals) 0.32 0.40 24.1 %

The cement producer cited higher sales during 2024 compared to the year before on improved average selling prices. It also reported higher gross margins, despite the increase in the general and administrative expenses and an increase in the cost of finance.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 126.83 148.55 17.1 %
Gross Income 25.01 44.05 76.1 %
Operating Income 13.44 29.84 122.1 %
Net Income 4.80 21.45 346.8 %
Average Shares 170.00 170.00 -
Earnings Per Share before unusual items (Riyals) 0.03 0.13 346.8 %
EPS (Riyals) 0.03 0.13 346.8 %

Q4 net profit skyrocketed to SAR 21.4 million from SAR 4.8 million in the year-earlier period.

 

Quarter-on-quarter, Q4 net earnings jumped 19.6% from SAR 17.93 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 2.04 billion by Dec. 31, 2024, compared to SAR 1.97 billion a year earlier.

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