Hail Cement earns SAR 24.6M in 2023, SAR 3.2M in Q4

25/02/2024 Argaam Exclusive

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Hail Cement Co. posted a 50% leap in its 2023 net profit to SAR 24.6 million, compared to SAR 16.4 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	365.46	229.06	(37.3 %)
Gross Income	63.48	44.17	(30.4 %)
Operating Income	42.28	19.35	(54.2 %)
Net Income	16.41	24.61	50.0 %
Average Shares	97.90	97.90	-
EPS (Riyals)	0.17	0.25	50.0 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	97.25	55.90	(42.5 %)
Gross Income	30.53	7.00	(77.1 %)
Operating Income	26.15	(0.80)	(103.1 %)
Net Income	22.32	3.23	(85.5 %)
Average Shares	97.90	97.90	-
EPS (Riyals)	0.23	0.03	(85.5 %)

Item	Q3 2023	Q4 2023	Change‬
Revenues	51.53	55.90	8.5 %
Gross Income	7.35	7.00	(4.8 %)
Operating Income	0.83	(0.80)	(196.6 %)
Net Income	(3.11)	3.23	204.1 %
Average Shares	97.90	97.90	-
EPS (Riyals)	(0.03)	0.03	204.1 %

The fourth-quarter net earnings plunged 85.5% to SAR 3.2 million from SAR 22.3 million in Q4 2022.

Total shareholders’ equity, no minority interest, declined to SAR 999.87 million as of Dec. 31, 2023, from SAR 1.06 billion a year earlier.

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