Financial Results : Hail Cement’s 2021 net profit down 60% to SAR 42.4 mln; Q4 loss at SAR 4.8 mln

Hail Cement’s 2021 net profit down 60% to SAR 42.4 mln; Q4 loss at SAR 4.8 mln

01/03/2022 Argaam Exclusive

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Hail Cement Co. reported a net profit after Zakat and tax of SAR 42.4 million for 2021, a drop of 60% from SAR 107.1 million a year earlier, driven by lower revenue.



Financials (M)

Item 2020 2021 Change‬
Revenues 336.28 253.31 (24.7 %)
Gross Income 147.66 63.27 (57.2 %)
Operating Income 126.03 41.20 (67.3 %)
Net Income 107.06 42.41 (60.4 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 1.09 0.43 (60.4 %)

The cement producer incurred a net loss of SAR 4.8 million for Q4 2021, versus a net profit of SAR 22.26 million in Q4 2020.

 

On a sequential basis, Hail Cement swung to losses, from SAR 5.96 million earnings in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 78.90 49.42 (37.4 %)
Gross Income 33.93 (0.42) (101.2 %)
Operating Income 29.77 (4.05) (113.6 %)
Net Income 22.26 (4.77) (121.4 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.23 (0.05) (121.4 %)

Shareholders’ equity, excluding minority interest, reached SAR 1.1 billion for 2021, compared to SAR 1.16 billion a year earlier.

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