Hail Cement Co. reported a net loss after Zakat and tax of SAR 6.9 million for the first quarter of 2022, against a profit of SAR 25.9 million a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 81.89 | 68.62 | (16.2 %) |
| Gross Income | 30.91 | (1.64) | (105.3 %) |
| Operating Income | 23.84 | (7.36) | (130.9 %) |
| Net Income | 25.87 | (6.89) | (126.6 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.26 | (0.07) | (126.6 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 49.42 | 68.62 | 38.8 % |
| Gross Income | (0.42) | (1.64) | (290.0 %) |
| Operating Income | (4.05) | (7.36) | (81.9 %) |
| Net Income | (4.77) | (6.89) | (44.6 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | (0.05) | (0.07) | (44.6 %) |
The loss was attributed to lower revenue and higher expenses.
The cement producer widened its losses in Q1 2022 by 44.6% from SAR 4.77 million in Q4 2021, on higher expenses.
Total shareholders’ equity, excluding minority interests, stood at SAR 1.097 billion as of March 31, 2022, declining by 7.6% from SAR 1.189 billion a year earlier.
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