Northern Cement net profit rises 17% to SAR 108.2 mln in 2020

09/03/2021 Argaam Exclusive

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Northern Region Cement Co. reported net profit after Zakat and tax of SAR 108.2 million, a 17% increase year-on-year (YoY) for 2020.

The profit jump was driven by lower financing expenses, a SAR 114 million drop in total loans in addition to higher return from foreign investments.

Q4 2020 net earnings rose 22% YoY to SAR 45.5 million.

Financials (M)

Item	2019	2020	Change‬
Revenues	673.37	651.48	(3.3 %)
Gross Income	216.32	196.13	(9.3 %)
Operating Income	125.86	126.83	0.8 %
Net Income	92.27	107.50	16.5 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.51	0.60	16.5 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	210.12	166.38	(20.8 %)
Gross Income	55.00	53.63	(2.5 %)
Operating Income	33.69	41.64	23.6 %
Net Income	36.80	44.62	21.3 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.20	0.25	21.3 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	172.90	166.38	(3.8 %)
Gross Income	48.71	53.63	10.1 %
Operating Income	30.10	41.64	38.3 %
Net Income	21.52	44.62	107.4 %
Average Shares	180.00	180.00	-
EPS (Riyals)	0.12	0.25	107.4 %

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