Yamama Cement net profit down 60% to SAR 160.6 mln in 2021; Q4 loss at SAR 11.9 mln

15/02/2022 Argaam Exclusive

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Yamama Cement Co. reported a net profit after Zakat and tax of SAR 160.6 million for 2021, a drop of 60% from SAR 405.5 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	956.00	735.84	(23.0 %)
Gross Income	440.05	220.41	(49.9 %)
Operating Income	371.13	156.85	(57.7 %)
Net Income	405.55	153.67	(62.1 %)
Average Shares	202.50	202.50	-
EPS (Riyals)	2.00	0.76	(62.1 %)

The company attributed the drop in net profit to lower sales value and other income.

In Q4 2021, the cement producer turned to a net loss after Zakat and tax of SAR 11.9 million from a net profit of SAR 135.4 million in the same period a year ago.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	249.21	182.34	(26.8 %)
Gross Income	101.85	(1.75)	(101.7 %)
Operating Income	84.60	(21.17)	(125.0 %)
Net Income	135.43	(18.86)	(113.9 %)
Average Shares	202.50	202.50	-
EPS (Riyals)	0.67	(0.09)	(113.9 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	170.67	182.34	6.8 %
Gross Income	54.39	(1.75)	(103.2 %)
Operating Income	40.17	(21.17)	(152.7 %)
Net Income	39.97	(18.86)	(147.2 %)
Average Shares	202.50	202.50	-
EPS (Riyals)	0.20	(0.09)	(147.2 %)

Shareholders’ equity, after minority interest, increased to SAR 4.287 billion as of Dec. 31, 2021, from SAR 3.927 billion a year earlier.

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