City Cement 2021 profit falls 27% to SAR 160.3 mln; Q4 earnings at SAR 6.5 mln

10/03/2022 Argaam Exclusive

View other reports

City Cement Co. reported a net profit after Zakat and tax of SAR 160.3 million in 2021, down 27%, compared to SAR 220.5 million in 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	572.73	496.73	(13.3 %)
Gross Income	256.96	207.87	(19.1 %)
Operating Income	219.81	174.12	(20.8 %)
Net Income	220.49	160.28	(27.3 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	1.57	1.14	(27.3 %)

The profit drop is due to a decrease in sales value, other income and an increase in Zakat provision despite a decline in the cost of sales and general and administrative expenses.

The cement producer’s Q4 2021 net profit after Zakat and tax fell 89% year-on-year (YoY) to SAR 6.5 million.

Sequentially, net profit declined 82.9% from SAR 38.05 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	152.99	94.70	(38.1 %)
Gross Income	65.33	26.76	(59.0 %)
Operating Income	55.90	18.29	(67.3 %)
Net Income	57.27	6.51	(88.6 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	0.41	0.05	(88.6 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	111.58	94.70	(15.1 %)
Gross Income	47.24	26.76	(43.4 %)
Operating Income	38.99	18.29	(53.1 %)
Net Income	38.05	6.51	(82.9 %)
Average Shares	140.00	140.00	-
EPS (Riyals)	0.27	0.05	(82.9 %)

Total shareholders’ equity, excluding minority interest, declined 0.8% year-on-year to SAR 1.83 billion

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×