Financial Results : Northern Cement's 2024 profit soars 79% to SAR 100.8M; Q4 at SAR 19.3M

Northern Cement's 2024 profit soars 79% to SAR 100.8M; Q4 at SAR 19.3M

12/03/2025 Argaam Exclusive

View other reports

Northern Region Cement Co. reported a net profit of SAR 100.8 million by the end of 2024, up 79% from SAR 56.3 million a year ago.



Financials (M)

Item 2023 2024 Change‬
Revenues 689.55 622.52 (9.7 %)
Gross Income 226.28 232.75 2.9 %
Operating Income 127.47 121.51 (4.7 %)
Net Income 56.26 100.80 79.2 %
Average Shares 180.00 180.00 -
Earnings Per Share before unusual items (Riyals) 0.31 0.31 (1.6 %)
EPS (Riyals) 0.31 0.56 79.2 %

This was driven by gains generated from the partial sale of the company’s investment in Iraq and lower financing costs (FCs).

 

Additionally, 2023 earnings were impacted by the settlement agreement with Zakat, Tax and Customs Authority (ZATCA) for the years 2014 to 2019.

 

However, the 2024 profit growth was offset by lower revenues amid weaker sales volumes.

 

In Q4 2024, Northern Cement turned to net earnings of SAR 19.28 million, from net losses of SAR 7.93 million in the year before.

 

Sequentially, the Saudi-listed cement producer’s net profit rose 6.4% from SAR 18.13 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 175.32 172.64 (1.5 %)
Gross Income 86.66 85.29 (1.6 %)
Operating Income 38.61 33.45 (13.4 %)
Net Income (7.93) 19.28 343.2 %
Average Shares 180.00 180.00 -
Earnings Per Share before unusual items (Riyals) (0.04) 0.11 343.2 %
EPS (Riyals) (0.04) 0.11 343.2 %

Shareholders’ equity, after minority interest, amounted to SAR 2.25 billion by the end of 2024, from SAR 2.24 billion in 2023.

View more financial results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.