City Cement 2024 profit surges 76% to SAR 144.1M; Q4 at SAR 41.1M

05/03/2025 Argaam Exclusive

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City Cement Co. reported a net profit of SAR 144.1 million in 2024, a 76% rise from SAR 82 million a year earlier, on higher sales volumes and average selling prices.

Financials (M)

Item	2023	2024	Change‬
Revenues	356.47	520.84	46.1 %
Gross Income	110.43	188.54	70.7 %
Operating Income	72.86	135.89	86.5 %
Net Income	82.00	144.12	75.8 %
Average Shares	140.00	140.00	-
Earnings Per Share before unusual items (Riyals)	0.59	1.03	75.8 %
EPS (Riyals)	0.59	1.03	75.8 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	99.75	159.62	60.0 %
Gross Income	33.62	54.66	62.6 %
Operating Income	23.96	41.15	71.7 %
Net Income	25.70	41.09	59.9 %
Average Shares	140.00	140.00	-
Earnings Per Share before unusual items (Riyals)	0.18	0.29	59.9 %
EPS (Riyals)	0.18	0.29	59.9 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	130.11	159.62	22.7 %
Gross Income	45.88	54.66	19.1 %
Operating Income	31.74	41.15	29.6 %
Net Income	33.66	41.09	22.1 %
Average Shares	140.00	140.00	-
Earnings Per Share before unusual items (Riyals)	0.24	0.29	22.1 %
EPS (Riyals)	0.24	0.29	22.1 %

The fourth-quarter net earnings grew by 60% to SAR 41.1 million from SAR 25.7 million in Q4 2023.

The cement producer’s bottom line increased 22.1% from SAR 33.66 million in Q3 2024.

Shareholders’ equity, after minority interest, stood at SAR 1.79 billion as of Dec. 31, 2024, up from SAR 1.77 billion a year earlier.

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