Saudi Cement Co. reported a net profit of SAR 201.1 million in H1 2024, a fall of 4% from SAR 209 million a year earlier.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 765.89 | 804.70 | 5.1 % |
| Gross Income | 320.85 | 318.80 | (0.6 %) |
| Operating Income | 217.49 | 203.40 | (6.5 %) |
| Net Income | 208.98 | 201.10 | (3.8 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 1.37 | 1.31 | (3.8 %) |
The profit decline was due to the increased cost of revenue and selling & distribution expenses, as well as lower gains on the sale of investments related to the subsidiary.
However, the company posted higher sales value and volumes, besides an elevated other income and share from an associate's earnings.
The cement producer reported a 3% rise in Q2 2024 net profit to SAR 87.3 million, compared to SAR 85.19 million in Q2 2023, mainly due to higher sales revenues and other income.
Meanwhile, net profit fell 23.3% from SAR 113.76 million in Q1 2024.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 356.26 | 378.10 | 6.1 % |
| Gross Income | 145.08 | 144.00 | (0.7 %) |
| Operating Income | 93.75 | 84.10 | (10.3 %) |
| Net Income | 85.19 | 87.30 | 2.5 % |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.56 | 0.57 | 2.5 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 426.52 | 378.10 | (11.4 %) |
| Gross Income | 174.76 | 144.00 | (17.6 %) |
| Operating Income | 119.32 | 84.10 | (29.5 %) |
| Net Income | 113.76 | 87.30 | (23.3 %) |
| Average Shares | 153.00 | 153.00 | - |
| EPS (Riyals) | 0.74 | 0.57 | (23.3 %) |
Shareholders’ equity, with no minority interest, grew to SAR 2.01 billion as of June 30, 2024, from SAR 2.00 billion a year earlier.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAUDI ARAMCO | 104,019.94 | 106,158.00 | 2.1 % |
| SAUDI CEMENT | 90.58 | 87.30 | (3.6 %) |
| DAR ALARKAN | 173.60 | 165.12 | (4.9 %) |
| LUMI | 54.61 | 46.01 | (15.8 %) |
| SPCC | 45.14 | 30.00 | (33.5 %) |
| SAVOLA GROUP | 258.90 | 135.39 | (47.7 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| ALAMAR | 11.00 | 13.05 | 18.6 % |
| SAUDI ARAMCO | 104,019.94 | 106,158.00 | 2.1 % |
| JAMJOOM PHARMA | 106.61 | 106.95 | 0.3 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| SAVOLA GROUP | 258.90 | 135.39 | (47.7 %) |
| SPCC | 45.14 | 30.00 | (33.5 %) |
| A.OTHAIM MARKET | 58.76 | 43.28 | (26.3 %) |
| LUMI | 54.61 | 46.01 | (15.8 %) |
| YSCC | 98.89 | 84.62 | (14.4 %) |
| DAR ALARKAN | 173.60 | 165.12 | (4.9 %) |
| SAUDI CEMENT | 90.58 | 87.30 | (3.6 %) |
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