Yamama Cement 2022 profit surges to SAR 355.8 mln, Q4 at SAR 134.2 mln

15/02/2023 Argaam Exclusive

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Yamama Cement Co. reported an over twofold increase in net profit after Zakat and tax to SAR 355.8 million in 2022, compared to SAR 153.7 million a year earlier, backed by higher sales value and volume, as well as better other income.

Financials (M)

Item	2021	2022	Change‬
Revenues	735.84	1,008.11	37.0 %
Gross Income	220.41	408.65	85.4 %
Operating Income	156.85	332.04	111.7 %
Net Income	153.67	355.80	131.5 %
Average Shares	202.50	202.50	-
EPS (Riyals)	0.76	1.76	131.5 %

In Q4 2022, the cement producer swung to a net profit of SAR 134.2 million against a net loss of SAR 18.86 million in Q4 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	182.34	334.43	83.4 %
Gross Income	(1.75)	161.06	9298.0 %
Operating Income	(21.17)	131.09	719.2 %
Net Income	(18.86)	134.15	811.4 %
Average Shares	202.50	202.50	-
EPS (Riyals)	(0.09)	0.66	811.4 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	248.63	334.43	34.5 %
Gross Income	111.92	161.06	43.9 %
Operating Income	96.58	131.09	35.7 %
Net Income	101.33	134.15	32.4 %
Average Shares	202.50	202.50	-
EPS (Riyals)	0.50	0.66	32.4 %

Compared to the previous quarter, net profit jumped 32.4% from SAR 101.33 million.

Total shareholders’ equity, after minority interest, increased to SAR 4.65 billion as of Dec. 31, 2022, from SAR 4.27 billion a year earlier.

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