Tabuk Cement profit up 18% to SAR 21 mln in 2022; Q4 at SAR 17.6 mln

22/03/2023 Argaam Exclusive

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Tabuk Cement Co. posted a net profit of SAR 21 million in 2022, an 18% increase from SAR 17.8 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	228.53	297.55	30.2 %
Gross Income	48.61	63.43	30.5 %
Operating Income	23.91	36.18	51.3 %
Net Income	17.76	20.97	18.1 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.20	0.23	18.1 %

The positive performance was driven by higher sales value and volume as well as average selling prices.

The fourth-quarter net profit surged to SAR 17.6 million from SAR 340,000 in the year-earlier period.

The company’s Q4 2022 net profit rose 126% from SAR 7.79 million in Q3 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	54.31	87.44	61.0 %
Gross Income	9.41	26.44	181.0 %
Operating Income	4.30	20.65	379.7 %
Net Income	0.34	17.61	5048.0 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.00	0.20	5048.0 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	73.68	87.44	18.7 %
Gross Income	18.89	26.44	40.0 %
Operating Income	11.24	20.65	83.7 %
Net Income	7.79	17.61	125.9 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.09	0.20	125.9 %

Total shareholders’ equity, no minority interest, stood at SAR 1.27 billion as of Dec. 31, 2022, compared to SAR 1.26 billion a year earlier.

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