Yanbu Cement Co.’s 2022 net profit climbed 35% to SAR 215.4 million, compared to SAR 159.6 million in 2021, thanks to better average selling prices locally and overseas.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 934.03 | 981.17 | 5.0 % |
| Gross Income | 223.61 | 276.44 | 23.6 % |
| Operating Income | 129.38 | 225.00 | 73.9 % |
| Net Income | 159.56 | 215.41 | 35.0 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 1.01 | 1.37 | 35.0 % |
The profit growth was also spurred by the company’s higher profit share from subsidiaries, along with a decline in the cost of sales amid higher clinker production.
In Q4 2022, net profit skyrocketed to SAR 59.2 million, from SAR 9.87 million in the prior-year period.
Compared to the previous quarter, net profit fell 14.6% from SAR 69.27 million.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 191.16 | 239.27 | 25.2 % |
| Gross Income | 38.68 | 69.11 | 78.7 % |
| Operating Income | (19.75) | 58.79 | 397.6 % |
| Net Income | 9.87 | 59.16 | 499.6 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.06 | 0.38 | 499.6 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 262.10 | 239.27 | (8.7 %) |
| Gross Income | 89.25 | 69.11 | (22.6 %) |
| Operating Income | 75.19 | 58.79 | (21.8 %) |
| Net Income | 69.27 | 59.16 | (14.6 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.44 | 0.38 | (14.6 %) |
Total shareholders’ equity, no minority interest, declined to SAR 2.76 billion as of Dec. 31, 2022, from SAR 2.79 billion a year earlier.
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