Financial Results : Saudi Cement profit rises 11% to SAR 421.9M in 2024; Q4 at SAR 120.6M

Saudi Cement profit rises 11% to SAR 421.9M in 2024; Q4 at SAR 120.6M

06/03/2025 Argaam Exclusive

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Saudi Cement Co. reported a net profit of SAR 421.9 million in 2024, an increase of 11% from to SAR 381 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,461.83 1,675.80 14.6 %
Gross Income 572.93 667.40 16.5 %
Operating Income 417.30 463.00 11.0 %
Net Income 381.03 421.90 10.7 %
Average Shares 153.00 153.00 -
Earnings Per Share before unusual items (Riyals) 2.43 2.76 13.4 %
EPS (Riyals) 2.49 2.76 10.7 %

This profit growth was spurred by higher sales volumes as well as value, an increase in profit share from an associate, and lower cost of finance.

 

The cement producer also noted a rise in selling and distribution expenses, lower gains on sale of investment related to a subsidiary and decreased other income.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 380.94 484.04 27.1 %
Gross Income 137.66 194.32 41.2 %
Operating Income 139.13 161.64 16.2 %
Net Income 103.79 120.62 16.2 %
Average Shares 153.00 153.00 -
Earnings Per Share before unusual items (Riyals) 0.68 0.79 16.2 %
EPS (Riyals) 0.68 0.79 16.2 %

Q4 2024 net profit rose 16% to SAR 120.6 million, compared to SAR 103.7 million in prior-year period.

 

On a quarterly basis, net profit jumped 20.4% from SAR 100.18 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 2.24 billion by Dec. 31, 2024, compared to SAR 2.15 billion a year earlier.

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