Financial Results : Umm Al-Qura Cement 2024 profit spikes to SAR 47.7M; Q4 at SAR 7.7M

Umm Al-Qura Cement 2024 profit spikes to SAR 47.7M; Q4 at SAR 7.7M

12/03/2025 Argaam Exclusive

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Umm Al-Qura Cement Co.'s net profit skyrocketed to SAR 47.7 million for 2024, from SAR 4 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 168.95 265.59 57.2 %
Gross Income 32.89 82.92 152.1 %
Operating Income 15.13 65.27 331.5 %
Net Income 3.95 47.72 1107.7 %
Average Shares 55.00 55.00 -
Earnings Per Share before unusual items (Riyals) (0.09) 0.87 1092.0 %
EPS (Riyals) 0.07 0.87 1107.7 %

The Saudi-listed cement producer posted higher revenues in 2024, thanks to strong sales volumes and the improved selling price per ton compared to the previous year, which pushed the sales value higher. This was in addition to a decrease in general and administrative expenses, financing costs, and Zakat expenses.

Further, its cement production rates also returned to normal levels by year-end.

 

In Q4 2024, Umm Al-Qura Cement turned to net earnings of SAR 7.7 million, against net losses of SAR 6.1 million in the year-ago period.

 

Sequentially, however, the company's bottom line dropped 23.3% from SAR 10 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 50.44 72.55 43.8 %
Gross Income 4.16 15.79 279.6 %
Operating Income (1.01) 10.88 1181.8 %
Net Income (6.10) 7.67 225.7 %
Average Shares 55.00 55.00 -
Earnings Per Share before unusual items (Riyals) (0.11) 0.14 225.7 %
EPS (Riyals) (0.11) 0.14 225.7 %

Total shareholders’ equity, no minority interest, rose to SAR 813.59 million as of Dec. 31, 2024, from SAR 766.03 million a year earlier.

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