Yamama Cement Co. reported a net profit after Zakat and tax of SAR 120 million for the first half of 2022, a decline of 9%, compared to SAR 132.6 million in the previous year.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 382.84 | 430.86 | 12.5 % |
| Gross Income | 167.77 | 141.48 | (15.7 %) |
| Operating Income | 137.85 | 104.37 | (24.3 %) |
| Net Income | 132.55 | 120.31 | (9.2 %) |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.65 | 0.59 | (9.2 %) |
The profit decline was due to a drop in sales values and higher provision for Zakat and selling expenses year-on-year (YoY).
The cement producer reported a net profit after Zakat and tax of SAR 90.70 million in Q2 2022, an increase of 17%, compared to SAR 77.68 million in the same period last year on higher sales and other revenues YoY.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 202.58 | 209.29 | 3.3 % |
| Gross Income | 95.95 | 100.75 | 5.0 % |
| Operating Income | 80.45 | 81.06 | 0.8 % |
| Net Income | 77.68 | 90.70 | 16.8 % |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.38 | 0.45 | 16.8 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 221.58 | 209.29 | (5.5 %) |
| Gross Income | 40.74 | 100.75 | 147.3 % |
| Operating Income | 23.31 | 81.06 | 247.7 % |
| Net Income | 29.62 | 90.70 | 206.2 % |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.15 | 0.45 | 206.2 % |
On a sequential basis, net profit surged from SAR 29.62 million in Q1 2022.
Total shareholders’ equity, after minority interest, increased 3.36% to SAR 4.399 billion as of June 30, 2022, from SAR 4.256 billion a year earlier.
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