Financial Results : Yamama Cement net profit drops 46% to SAR 29.6 mln in Q1 2022

Yamama Cement net profit drops 46% to SAR 29.6 mln in Q1 2022

19/04/2022 Argaam Exclusive

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Yamama Cement Co. reported a net profit after Zakat and tax of SAR 29.6 million for the first quarter of 2022, a decrease of 46% from SAR 54.9 million in the year-earlier period. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 180.26 221.58 22.9 %
Gross Income 71.82 40.74 (43.3 %)
Operating Income 57.40 23.31 (59.4 %)
Net Income 54.87 29.62 (46.0 %)
Average Shares 202.50 202.50 -
EPS (Riyals) 0.27 0.15 (46.0 %)

The company attributed the drop in net profit to lower sales value, along with an increase in selling and marketing expenses, compared to Q1 2021.

 

The cement producer turned profit in the three-month period, after incurring a net loss after Zakat and tax of SAR 11.9 million in Q4 2021, driven by better sales value and volume, and higher other income.

 

Shareholders’ equity, after minority interest, increased to SAR 4.316 billion as of March 31, 2022, from SAR 4.127 billion in Q1 2021.

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