Hail Cement posts 34% profit decline to SAR 41.2 mln in H1 2021

16/08/2021 Argaam Exclusive

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Hail Cement Co. reported a net profit after Zakat and tax of SAR 41.2 million for H1 2021, a slump of 34%, from SAR 62 million in the year-earlier period, driven by lower revenue.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	185.70	147.80	(20.4 %)
Gross Income	83.49	51.36	(38.5 %)
Operating Income	72.08	38.87	(46.1 %)
Net Income	61.97	41.22	(33.5 %)
Average Shares	97.90	97.90	-
EPS (Riyals)	0.63	0.42	(33.5 %)

The Saudi cement producer reported a 29% profit decline year-on-year (YoY) to SAR 15.3 million in Q2 2021, due to lower revenue and higher expenses.

On a sequential basis, net profit dropped 40.68%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	66.24	65.91	(0.5 %)
Gross Income	28.47	20.45	(28.2 %)
Operating Income	23.90	15.03	(37.1 %)
Net Income	21.75	15.35	(29.4 %)
Average Shares	97.90	97.90	-
EPS (Riyals)	0.22	0.16	(29.4 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	81.89	65.91	(19.5 %)
Gross Income	30.91	20.45	(33.8 %)
Operating Income	23.84	15.03	(36.9 %)
Net Income	25.87	15.35	(40.7 %)
Average Shares	97.90	97.90	-
EPS (Riyals)	0.26	0.16	(40.7 %)

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