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

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 %)

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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