Yamama Cement net profit rises 40% to SAR 249.6 mln in 9M 2020

20/10/2020 Argaam Exclusive

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Yamama Cement Co. reported a net profit after Zakat and tax of SAR 249.6 million for the first nine months of 2020, a 39.7% year-on-year (YoY) rise from SAR 178.5 million a year earlier, driven by higher sales volumes.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	565.72	706.79	24.9 %
Gross Income	232.32	338.19	45.6 %
Operating Income	185.44	286.52	54.5 %
Net Income	178.54	270.12	51.3 %
Average Shares	202.50	202.50	-
EPS (Riyals)	0.88	1.33	51.3 %

The third-quarter net profit after Zakat and tax jumped 42% year-on-year (YoY) to SAR 77.7 million, thanks to improved sales volumes and a rise in other income.

When compared to previous quarter, net profit surged 62.4% backed by higher sales volumes and other income, along with a decline in selling, general and administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	186.50	249.65	33.9 %
Gross Income	76.13	114.29	50.1 %
Operating Income	60.77	98.64	62.3 %
Net Income	54.73	95.32	74.2 %
Average Shares	202.50	202.50	-
EPS (Riyals)	0.27	0.47	74.2 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	167.13	249.65	49.4 %
Gross Income	77.94	114.29	46.6 %
Operating Income	56.60	98.64	74.3 %
Net Income	50.84	95.32	87.5 %
Average Shares	202.50	202.50	-
EPS (Riyals)	0.25	0.47	87.5 %

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