Yanbu Cement Co. posted a net profit increase of 14% to SAR 98.1 million in the first half of 2024, from SAR 86.3 million in the prior-year period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 397.56 | 428.37 | 7.7 % |
| Gross Income | 125.89 | 148.33 | 17.8 % |
| Operating Income | 95.40 | 112.23 | 17.6 % |
| Net Income | 86.29 | 98.07 | 13.7 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.55 | 0.62 | 13.7 % |
The profit growth was spurred by higher revenue amid improved sales volumes and average selling prices. The cement producer also recorded higher short-term investment returns, despite increased administrative, selling expenses, as well as financing and Zakat charges.
In Q2 2024, the company’s net profit leapt 13% to SAR 39.8 million, from SAR 35.2 million in Q2 2023.
On the other hand, net earnings fell by 31.8% from SAR 58.3 million in the previous quarter.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 173.56 | 194.20 | 11.9 % |
| Gross Income | 53.36 | 64.53 | 20.9 % |
| Operating Income | 39.66 | 46.97 | 18.4 % |
| Net Income | 35.27 | 39.77 | 12.7 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.22 | 0.25 | 12.7 % |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 234.17 | 194.20 | (17.1 %) |
| Gross Income | 83.80 | 64.53 | (23.0 %) |
| Operating Income | 65.26 | 46.97 | (28.0 %) |
| Net Income | 58.31 | 39.77 | (31.8 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.37 | 0.25 | (31.8 %) |
Total shareholders’ equity, no minority interest, rose to SAR 2.63 billion as of June 30, 2024, from SAR 2.61 billion a year earlier.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| STC | 3,189.05 | 3,304.00 | 3.6 % |
| ETIHAD ETISALAT | 648.32 | 661.00 | 2.0 % |
| YCC | 45.55 | 39.77 | (12.7 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| STC | 3,189.05 | 3,304.00 | 3.6 % |
| ETIHAD ETISALAT | 648.32 | 661.00 | 2.0 % |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| YCC | 45.55 | 39.77 | (12.7 %) |
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