Financial Results : Saudi Cement net profit edges up to SAR 456 mln in 2020

Saudi Cement net profit edges up to SAR 456 mln in 2020

18/02/2021 Argaam Exclusive

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Saudi Cement Co. posted a net profit after Zakat and tax of SAR 456 million for the fiscal year (FY) 2020, marginally up 1%, from SAR 451.4 million in 2019.

 

The company attributed the profit rise to increase in sales and other income, and lower general and administrative expenses and financial charges.

 

This came despite higher selling and distribution expenses and Zakat provision.



Financials (M)

Item 2019 2020 Change‬
Revenues 1,441.63 1,569.63 8.9 %
Gross Income 649.79 666.38 2.6 %
Operating Income 490.99 479.07 (2.4 %)
Net Income 451.40 455.96 1.0 %
Average Shares 153.00 153.00 -
EPS (Riyals) 2.95 2.98 1.0 %

In Q4 2020, the cement producer posted 14% decline in net profit to SAR 124.2 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 402.54 435.01 8.1 %
Gross Income 196.64 176.75 (10.1 %)
Operating Income 157.45 124.38 (21.0 %)
Net Income 143.60 124.12 (13.6 %)
Average Shares 153.00 153.00 -
EPS (Riyals) 0.94 0.81 (13.6 %)

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