Umm Al-Qura Cement 2020 net profit up 47% to SAR 117.7 mln

10/03/2021 Argaam Exclusive

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Umm Al-Qura Cement Co. reported net profit after Zakat and tax of SAR 117.7 million in 2020, a jump of 47%, from SAR 79.8 million in 2019.

This profit rise was driven by higher sales volumes and value, in addition to increased average selling prices.

The cement producer also cited higher other revenue and lower financing costs, despite higher selling and marketing, general and administrative expenses.

Financials (M)

Item	2019	2020	Change‬
Revenues	255.94	333.33	30.2 %
Gross Income	119.10	158.04	32.7 %
Operating Income	106.56	144.46	35.6 %
Net Income	79.82	117.67	47.4 %
Average Shares	55.00	55.00	-
EPS (Riyals)	1.45	2.14	47.4 %

The company’s fourth-quarter net profit after Zakat and tax declined by 3% year-on-year (YoY) to SAR 26.3 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	82.03	86.71	5.7 %
Gross Income	39.08	37.86	(3.1 %)
Operating Income	35.20	33.38	(5.2 %)
Net Income	27.10	26.27	(3.1 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.49	0.48	(3.1 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	87.61	86.71	(1.0 %)
Gross Income	41.62	37.86	(9.0 %)
Operating Income	38.55	33.38	(13.4 %)
Net Income	31.91	26.27	(17.7 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.58	0.48	(17.7 %)

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