Financial Results : Yamama Cement 9M 2024 profit jumps 18% to SAR 297.6M; Q3 at SAR 97.9M

Yamama Cement 9M 2024 profit jumps 18% to SAR 297.6M; Q3 at SAR 97.9M

22/10/2024 Argaam Exclusive

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Yamama Cement Co. posted a net profit of SAR 297.6 million in the first nine months of 2024, a rise of 18% from SAR 251.5 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 710.51 802.62 13.0 %
Gross Income 254.99 371.08 45.5 %
Operating Income 205.28 308.28 50.2 %
Net Income 251.49 297.58 18.3 %
Average Shares 202.50 202.50 -
EPS (Riyals) 1.24 1.47 18.3 %

The company’s solid performance was driven by higher sales, thanks to a rise in sales value in the current period.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 211.71 285.18 34.7 %
Gross Income 37.59 123.81 229.3 %
Operating Income 20.80 103.93 399.7 %
Net Income 40.78 97.93 140.1 %
Average Shares 202.50 202.50 -
EPS (Riyals) 0.20 0.48 140.1 %

The third-quarter net earnings more than doubled to SAR 97.9 million, from SAR 40.7 million in Q3 2023 on improved revenue amid higher sales volumes.

 

On a quarterly basis, the cement producer’s net earnings climbed 15.7% from SAR 84.6 million in Q2 2024 buoyed by better sales along with lower selling, general and administrative expenses.

 

Shareholders’ equity, no minority interest, reached SAR 4.82 billion as of Sept. 30, 2024, compared to SAR 4.69 billion a year earlier.

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