Financial Results : Umm Al-Qura Cement 2021 profit down 34% to SAR 78 mln; Q4 drops to SAR 16 mln

Umm Al-Qura Cement 2021 profit down 34% to SAR 78 mln; Q4 drops to SAR 16 mln

17/03/2022 Argaam Exclusive

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Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 78 million in 2021, a dip of 34% from SAR 117.7 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 333.33 278.83 (16.3 %)
Gross Income 158.04 119.14 (24.6 %)
Operating Income 144.46 105.62 (26.9 %)
Net Income 117.67 81.44 (30.8 %)
Average Shares 55.00 55.00 -
EPS (Riyals) 2.14 1.48 (30.8 %)

The profit drop was attributed to a drop in sales volume and value, along with higher selling and marketing expenses.

 

The company’s Q4 2021 net profit after Zakat and tax fell 39% year-on-year (YoY) to SAR 16 million.

 

On a sequential basis, Q4 2021 net profit jumped 29% from SAR 12.5 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 86.71 67.58 (22.1 %)
Gross Income 37.86 27.93 (26.2 %)
Operating Income 33.38 24.24 (27.4 %)
Net Income 26.27 19.51 (25.7 %)
Average Shares 55.00 55.00 -
EPS (Riyals) 0.48 0.35 (25.7 %)

Shareholder’s equity, after minority interest, in 2021 stood at SAR 749.076 million, compared to SAR 720.839 million in 2020.

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