Arabian Cement posts 91% rise in H1 2021 profit to SAR 100.5 mln

16/08/2021 Argaam Exclusive

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Arabian Cement Co. reported a net profit after Zakat and tax of SAR 100.5 million in the first half of 2021, a 91% increase, compared to SAR 52.7 million a year earlier.

The company attributed the profit rise to higher sales value and volumes from its Jordan subsidiary, despite decreased average sale price and higher marketing expenses due to rise in export volumes.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	344.15	554.48	61.1 %
Gross Income	102.93	167.10	62.3 %
Operating Income	71.92	115.96	61.2 %
Net Income	52.72	100.48	90.6 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.53	1.00	90.6 %

In Q2 2021, the company’s net profit after Zakat and tax surged over fourfold year-on-year (YoY) to SAR 33.5 million, due to higher sales value and volumes from its Jordan subsidiary.

When compared to the previous quarter, net profit dropped 50% on seasonality factors.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	139.56	232.98	66.9 %
Gross Income	30.95	62.97	103.5 %
Operating Income	14.94	37.62	151.8 %
Net Income	7.61	33.52	340.8 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.08	0.34	340.8 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	321.50	232.98	(27.5 %)
Gross Income	104.13	62.97	(39.5 %)
Operating Income	78.34	37.62	(52.0 %)
Net Income	66.96	33.52	(49.9 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.67	0.34	(49.9 %)

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