Financial Results : Yamama Cement’s H1 2022 profit falls 9% to SAR 120 mln, Q2 up 17% to SAR 90.7 mln

Yamama Cement’s H1 2022 profit falls 9% to SAR 120 mln, Q2 up 17% to SAR 90.7 mln

26/07/2022 Argaam Exclusive

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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.



Financials (M)

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.



Current Quarter Comparison (M)

Compared With The
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 %

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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