Financial Results : Yanbu Cement profit slides 46% to SAR 39.4 mln in Q1 2022

Yanbu Cement profit slides 46% to SAR 39.4 mln in Q1 2022

25/04/2022 Argaam Exclusive

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Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 39.4 million for the first quarter of 2022, a fall of 46% from SAR 72.8 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 292.40 241.63 (17.4 %)
Gross Income 81.23 54.44 (33.0 %)
Operating Income 68.58 40.20 (41.4 %)
Net Income 72.76 38.93 (46.5 %)
Average Shares 157.50 157.50 -
EPS (Riyals) 0.46 0.25 (46.5 %)

The profit drop was attributed to a decline in average selling prices, higher cost of revenue and lower other income.

 

On a sequential basis, net profit more than tripled from SAR 9.87 million in Q4 2021, backed by better sales volume and revenue.  

 

Shareholders’ equity, after minority interest, fell 7.6% to SAR 2.833 billion in Q1 2022, from SAR 3.069 billion a year earlier.

 

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