Qassim Cement 9M 2021 profit drops 15% to SAR 261.4 mln

08/11/2021 Argaam Exclusive

View other reports

Qassim Cement Co. reported a net profit after Zakat and tax of SAR 261.4 million for the first nine months of 2021, a 15% decline from SAR 306.8 million in the same period last year.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	660.76	591.47	(10.5 %)
Gross Income	364.38	282.14	(22.6 %)
Operating Income	323.12	255.38	(21.0 %)
Net Income	306.75	261.43	(14.8 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	3.41	2.90	(14.8 %)

The company attributed the decrease in net profit to lower sales, driven by a decline in average selling price.

This came despite higher sales volume and returns on financial investments, along with a drop in general and administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	231.58	170.31	(26.5 %)
Gross Income	120.65	69.66	(42.3 %)
Operating Income	111.55	59.70	(46.5 %)
Net Income	110.11	60.39	(45.2 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	1.22	0.67	(45.2 %)

Item	Q2 2021	Q3 2021	Change‬
Revenues	197.81	170.31	(13.9 %)
Gross Income	100.09	69.66	(30.4 %)
Operating Income	91.69	59.70	(34.9 %)
Net Income	100.18	60.39	(39.7 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	1.11	0.67	(39.7 %)

The cement producer reported a net profit of SAR 60.4 million for Q3 2021, a 45% decline year-on-year (YoY), on lower sales volume and value.

When compared to previous quarter, Q3 net profit dropped 39.7% on lower sales.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×