Financial Results : Yamama Cement earns SAR 199.7M in H1 2024, SAR 84.6M in Q2

Yamama Cement earns SAR 199.7M in H1 2024, SAR 84.6M in Q2

06/08/2024 Argaam Exclusive

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Yamama Cement Co. reported a net profit of SAR 199.7 million in the first half of 2024, compared to SAR 210.7 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 498.80 517.43 3.7 %
Gross Income 217.39 247.27 13.7 %
Operating Income 184.48 204.35 10.8 %
Net Income 210.71 199.65 (5.2 %)
Average Shares 202.50 202.50 -
EPS (Riyals) 1.04 0.99 (5.2 %)

The cement producer reported lower other revenue for H1 2024 compared to the same period of the year before, in addition to higher general, administrative, and selling expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 218.94 243.72 11.3 %
Gross Income 83.56 110.37 32.1 %
Operating Income 67.39 86.81 28.8 %
Net Income 98.31 84.62 (13.9 %)
Average Shares 202.50 202.50 -
EPS (Riyals) 0.49 0.42 (13.9 %)

Q2 2024 net profit reached SAR 84.6 million, down 14% from SAR 98.3 million in a year earlier period, on lower other revenue and higher general, administrative and selling expenses. Operating profit grew by 29% though.

 

On a quarterly basis, Q2 2024 net earnings dropped 26.4% from SAR 115.03 million in Q1 2024.

 

Total shareholders’ equity, no minority equity, reached SAR 4.72 billion by June 30, 2024, compared to SAR 4.65 billion in the corresponding period of the year before.

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