Tabuk Cement’s 2021 net profit slumps 66% to SAR 17.8 mln, Q4 drops 97% to SAR 345,000

22/03/2022 Argaam Exclusive

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Tabuk Cement Co. reported a net profit after Zakat and tax of SAR 17.8 million for 2021, a decline of 66% from SAR 51.6 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	276.46	228.53	(17.3 %)
Gross Income	68.25	48.61	(28.8 %)
Operating Income	44.94	23.91	(46.8 %)
Net Income	51.58	17.76	(65.6 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.57	0.20	(65.6 %)

This drop was driven by lower sales value and volume, in addition to an amortization of SAR 5.815 million.

Q4 2021 net profit plunged 97% YoY to SAR 345,000, from SAR 12.66 million.

Sequentially, net profit tumbled 95.9%.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	79.56	54.31	(31.7 %)
Gross Income	21.33	9.41	(55.9 %)
Operating Income	14.90	4.30	(71.1 %)
Net Income	12.66	0.34	(97.3 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.14	0.00	(97.3 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	48.00	54.31	13.1 %
Gross Income	8.79	9.41	7.1 %
Operating Income	2.55	4.30	68.5 %
Net Income	8.48	0.34	(96.0 %)
Average Shares	90.00	90.00	-
EPS (Riyals)	0.09	0.00	(96.0 %)

Total shareholders’ equity, excluding minority interest, inched up 1.5% year-on-year (YoY) to SAR 1.267 billion for 2021, from SAR 1.249 billion a year earlier.

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