Financial Results : Riyadh Cement reports 11% profit slump to SAR 190 mln in 2022

Riyadh Cement reports 11% profit slump to SAR 190 mln in 2022

21/03/2023 Argaam Exclusive

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Riyadh Cement Co. reported a net profit of SAR 190 million in 2022, an 11% decline compared to SAR 214 million in the prior year period, driven by lower sales.



Financials (M)

Item 2021 2022 Change‬
Revenues 671.07 598.01 (10.9 %)
Gross Income 266.55 231.55 (13.1 %)
Operating Income 229.14 200.75 (12.4 %)
Net Income 213.73 189.84 (11.2 %)
Average Shares 120.00 120.00 -
EPS (Riyals) 1.78 1.58 (11.2 %)

This came despite the decline of general and administrative expenses (G&As) as well as Zakat provisions.



Total shareholders equity, no minority interest, stood at SAR 1.67 billion by Dec. 31, 2022, compared to SAR 1.66 billion a year earlier.

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