Al Jouf Cement Co. reported a net profit after Zakat and tax of SAR 5.6 million in Q1 2022, a slump of 74% year-on-year (YoY), from SAR 21 million in a year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 67.89 | 48.81 | (28.1 %) |
| Gross Income | 30.25 | 13.92 | (54.0 %) |
| Operating Income | 24.37 | 7.89 | (67.6 %) |
| Net Income | 18.00 | 3.55 | (80.3 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.17 | 0.03 | (80.3 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 50.01 | 48.81 | (2.4 %) |
| Gross Income | (43.31) | 13.92 | 132.1 % |
| Operating Income | (108.55) | 7.89 | 107.3 % |
| Net Income | (122.47) | 3.55 | 102.9 % |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | (1.13) | 0.03 | 102.9 % |
The decline was triggered by lower sales volumes and value.
Sequentially, the cement producer turned to profit in Q1 2022, versus a net loss of SAR 182.2 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, dropped by 26.06% YoY to SAR 1.096 billion as of March 31, 2022, from SAR 1.482 billion in a year-earlier period.
Accumulated losses stood at SAR 337.562 million, or 23.6% of capital, by the end of the three-month period.
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