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 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	56.96	67.58	18.6 %
Gross Income	22.40	27.93	24.7 %
Operating Income	19.11	24.24	26.9 %
Net Income	12.47	19.51	56.4 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.23	0.35	56.4 %

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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