Financial Results : Qassim Cement H1 2023 profit leaps 72% to SAR 93 mln; Q2 at SAR 38.1 mln

Qassim Cement H1 2023 profit leaps 72% to SAR 93 mln; Q2 at SAR 38.1 mln

10/08/2023 Argaam Exclusive

View other reports

Qassim Cement Co. reported a net profit of SAR 93 million in H1 2023, a rise of 72% from SAR 54 million a year earlier, thanks to better sales value and higher returns on financial investments, despite the decrease in the other income.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 294.62 311.26 5.6 %
Gross Income 73.05 94.20 29.0 %
Operating Income 55.87 75.10 34.4 %
Net Income 54.04 93.04 72.2 %
Average Shares 90.00 90.00 -
EPS (Riyals) 0.60 1.03 72.2 %

The cement producer reported a 31.6% jump in Q2 2023 net profit to SAR 38.10 million, compared to SAR 28.96 million in Q2 2022, thanks to higher returns on financial investments, along with a drop in the cost of goods sold.

 

Sequentially, net profit fell by 30.7% from SAR 54.94 million in Q1 2023 on lower quarterly sales revenue.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 152.13 137.19 (9.8 %)
Gross Income 45.67 37.56 (17.8 %)
Operating Income 37.01 27.52 (25.6 %)
Net Income 28.96 38.10 31.6 %
Average Shares 90.00 90.00 -
EPS (Riyals) 0.32 0.42 31.6 %

Shareholders’ equity, no minority interest, declined to SAR 1.64 billion as of June 30, 2023, from SAR 1.68 billion a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 272.87 (6.2 %) 169.75 (7.0 %) 161.74 (7.2 %)
Q2 2014 270.13 (10.2 %) 171.25 (5.5 %) 163.59 (5.7 %)
Q3 2014 189.86 (12.9 %) 116.64 (12.5 %) 109.09 (9.2 %)
Q4 2014 252.84 4.9 % 157.71 7.3 % 141.11 1.9 %
Q1 2015 282.48 3.5 % 176.49 4.0 % 167.00 3.3 %
Q2 2015 264.15 (2.2 %) 167.76 (2.0 %) 161.84 (1.1 %)
Q3 2015 210.47 10.9 % 126.42 8.4 % 120.20 10.2 %
Q4 2015 266.80 5.5 % 159.02 0.8 % 152.35 8.0 %
Q1 2016 275.49 (2.5 %) 146.83 (16.8 %) 139.24 (16.6 %)
Q2 2016 220.02 (16.7 %) 120.90 (27.9 %) 113.76 (29.7 %)
Q3 2016 171.21 (18.7 %) 84.83 (32.9 %) 77.87 (35.2 %)
Q4 2016 185.33 (30.5 %) 96.44 (39.3 %) 86.21 (43.4 %)
Q1 2017 191.12 (30.6 %) 88.18 (39.9 %) 80.93 (41.9 %)
Q2 2017 135.10 (38.6 %) 56.43 (53.3 %) 49.01 (56.9 %)
Q3 2017 130.75 (23.6 %) 53.34 (37.1 %) 47.03 (39.6 %)
Q4 2017 168.98 (8.8 %) 75.73 (21.5 %) 67.67 (21.5 %)
Q1 2018 147.91 (22.6 %) 62.64 (29.0 %) 54.59 (32.5 %)
Q2 2018 88.05 (34.8 %) 22.01 (61.0 %) 15.62 (68.1 %)
Q3 2018 74.36 (43.1 %) 9.55 (82.1 %) 3.29 (93.0 %)
Q4 2018 115.40 (31.7 %) 46.16 (39.0 %) 38.38 (43.3 %)
Q1 2019 153.40 3.7 % 64.82 3.5 % 57.14 4.7 %
Q2 2019 154.53 75.5 % 75.62 243.6 % 68.45 338.2 %
Q3 2019 190.18 155.7 % 96.33 909.1 % 88.15 2581.9 %
Q4 2019 293.69 154.5 % 189.68 310.9 % 166.25 333.1 %
Q1 2020 261.75 70.6 % 152.84 135.8 % 129.22 126.2 %
Q2 2020 167.44 8.4 % 90.89 20.2 % 82.36 20.3 %
Q3 2020 231.58 21.8 % 120.65 25.3 % 111.55 26.5 %
Q4 2020 237.67 (19.1 %) 108.85 (42.6 %) 99.16 (40.4 %)
Q1 2021 223.35 (14.7 %) 112.40 (26.5 %) 103.99 (19.5 %)
Q2 2021 197.81 18.1 % 100.09 10.1 % 91.69 11.3 %
Q3 2021 170.31 (26.5 %) 69.66 (42.3 %) 59.70 (46.5 %)
Q4 2021 131.33 (44.7 %) 3.81 (96.5 %) 8.45 (91.5 %)
Q1 2022 142.49 (36.2 %) 27.37 (75.6 %) 18.86 (81.9 %)
Q2 2022 152.13 (23.1 %) 45.67 (54.4 %) 37.01 (59.6 %)
Q3 2022 166.78 (2.1 %) 38.09 (45.3 %) 28.37 (52.5 %)
Q4 2022 217.05 65.3 % 77.35 1930.7 % 59.32 601.9 %
Q1 2023 174.07 22.2 % 56.64 106.9 % 47.58 152.4 %
Q2 2023 137.19 (9.8 %) 37.56 (17.8 %) 27.52 (25.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 159.05 (5.6 %) 1.77 2.51 156.54 1.74
Q2 2014 161.11 (2.9 %) 1.79 3.32 157.79 1.75
Q3 2014 109.03 (4.9 %) 1.21 2.41 106.62 1.18
Q4 2014 134.23 (0.8 %) 1.49 1.56 132.67 1.47
Q1 2015 162.71 2.3 % 1.81 - 162.71 1.81
Q2 2015 168.08 4.3 % 1.87 7.60 160.49 1.78
Q3 2015 115.12 5.6 % 1.28 - 115.12 1.28
Q4 2015 140.53 4.7 % 1.56 - 140.53 1.56
Q1 2016 133.80 (17.8 %) 1.49 - 133.80 1.49
Q2 2016 113.90 (32.2 %) 1.27 - 113.90 1.27
Q3 2016 69.45 (39.7 %) 0.77 - 69.45 0.77
Q4 2016 87.92 (37.4 %) 0.98 - 87.92 0.98
Q1 2017 80.16 (40.1 %) 0.89 - 80.16 0.89
Q2 2017 53.20 (53.3 %) 0.59 - 53.20 0.59
Q3 2017 51.24 (26.2 %) 0.57 - 51.24 0.57
Q4 2017 67.19 (23.6 %) 0.75 - 67.19 0.75
Q1 2018 57.18 (28.7 %) 0.64 - 57.18 0.64
Q2 2018 18.38 (65.5 %) 0.20 - 18.38 0.20
Q3 2018 5.68 (88.9 %) 0.06 - 5.68 0.06
Q4 2018 39.56 (41.1 %) 0.44 - 39.56 0.44
Q1 2019 56.27 (1.6 %) 0.63 - 56.27 0.63
Q2 2019 68.17 270.9 % 0.76 - 68.17 0.76
Q3 2019 90.17 1486.5 % 1.00 - 90.17 1.00
Q4 2019 144.09 264.2 % 1.60 (26.01) 170.10 1.89
Q1 2020 111.17 97.6 % 1.24 - 111.17 1.24
Q2 2020 85.47 25.4 % 0.95 3.20 82.27 0.91
Q3 2020 110.11 22.1 % 1.22 - 110.11 1.22
Q4 2020 113.09 (21.5 %) 1.26 4.14 108.94 1.21
Q1 2021 100.87 (9.3 %) 1.12 - 100.87 1.12
Q2 2021 100.18 17.2 % 1.11 - 100.18 1.11
Q3 2021 60.39 (45.2 %) 0.67 - 60.39 0.67
Q4 2021 30.44 (73.1 %) 0.34 - 30.44 0.34
Q1 2022 25.08 (75.1 %) 0.28 - 25.08 0.28
Q2 2022 28.96 (71.1 %) 0.32 - 28.96 0.32
Q3 2022 23.43 (61.2 %) 0.26 - 23.43 0.26
Q4 2022 53.04 74.3 % 0.59 - 53.04 0.59
Q1 2023 54.94 119.0 % 0.61 - 54.94 0.61
Q2 2023 38.10 31.6 % 0.42 - 38.10 0.42

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 61.12 % 65.81 % 55.33 %
Q2 2014 61.99 % 66.79 % 56.20 %
Q3 2014 62.08 % 67.53 % 57.05 %
Q4 2014 62.43 % 66.86 % 56.17 %
Q1 2015 62.50 % 66.72 % 56.24 %
Q2 2015 62.53 % 66.60 % 56.86 %
Q3 2015 62.22 % 66.16 % 56.54 %
Q4 2015 61.50 % 66.18 % 56.53 %
Q1 2016 59.00 % 63.77 % 54.08 %
Q2 2016 56.86 % 61.87 % 51.74 %
Q3 2016 54.80 % 59.80 % 49.03 %
Q4 2016 52.70 % 57.51 % 47.54 %
Q1 2017 50.85 % 55.97 % 45.78 %
Q2 2017 47.73 % 53.17 % 42.58 %
Q3 2017 45.83 % 51.68 % 42.43 %
Q4 2017 43.72 % 50.13 % 40.23 %
Q1 2018 42.58 % 49.42 % 39.26 %
Q2 2018 39.90 % 47.65 % 36.21 %
Q3 2018 35.45 % 44.20 % 30.97 %
Q4 2018 32.97 % 42.98 % 28.37 %
Q1 2019 33.05 % 43.11 % 27.80 %
Q2 2019 39.41 % 48.00 % 34.09 %
Q3 2019 46.12 % 52.80 % 41.43 %
Q4 2019 53.86 % 57.13 % 48.59 %
Q1 2020 57.15 % 59.07 % 48.84 %
Q2 2020 58.02 % 59.09 % 49.69 %
Q3 2020 58.05 % 59.03 % 49.63 %
Q4 2020 52.67 % 55.27 % 45.91 %
Q1 2021 50.32 % 54.05 % 46.77 %
Q2 2021 49.64 % 54.03 % 47.18 %
Q3 2021 47.16 % 51.73 % 44.67 %
Q4 2021 39.56 % 46.70 % 40.38 %
Q1 2022 31.30 % 39.22 % 33.66 %
Q2 2022 24.57 % 32.94 % 24.30 %
Q3 2022 19.39 % 27.83 % 18.21 %
Q4 2022 27.78 % 31.83 % 19.24 %
Q1 2023 30.67 % 34.46 % 22.59 %
Q2 2023 30.16 % 33.82 % 24.39 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 90.00 6.39 6.35 20.44
Q2 2014 90.00 6.34 6.26 22.22
Q3 2014 90.00 6.27 6.17 20.43
Q4 2014 90.00 6.26 6.15 21.93
Q1 2015 90.00 6.30 6.22 20.72
Q2 2015 90.00 6.38 6.25 21.09
Q3 2015 90.00 6.45 6.34 20.87
Q4 2015 90.00 6.52 6.43 20.93
Q1 2016 90.00 6.19 6.11 20.42
Q2 2016 90.00 5.59 5.59 18.92
Q3 2016 90.00 5.09 5.09 19.69
Q4 2016 90.00 4.50 4.50 19.68
Q1 2017 90.00 3.90 3.90 19.57
Q2 2017 90.00 3.23 3.23 19.32
Q3 2017 90.00 3.03 3.03 19.23
Q4 2017 90.00 2.80 2.80 19.38
Q1 2018 90.00 2.54 2.54 19.22
Q2 2018 90.00 2.16 2.16 18.77
Q3 2018 90.00 1.65 1.65 18.48
Q4 2018 90.00 1.34 1.34 18.19
Q1 2019 90.00 1.33 1.33 18.82
Q2 2019 90.00 1.89 1.89 19.00
Q3 2019 90.00 2.82 2.82 19.25
Q4 2019 90.00 3.99 4.27 19.82
Q1 2020 90.00 4.60 4.88 19.96
Q2 2020 90.00 4.79 5.04 19.91
Q3 2020 90.00 5.01 5.26 20.13
Q4 2020 90.00 4.66 4.58 20.10
Q1 2021 90.00 4.55 4.47 20.02
Q2 2021 90.00 4.71 4.67 20.03
Q3 2021 90.00 4.16 4.12 19.71
Q4 2021 90.00 3.24 3.24 19.25
Q1 2022 90.00 2.40 2.40 18.96
Q2 2022 90.00 1.61 1.61 18.78
Q3 2022 90.00 1.20 1.20 18.54
Q4 2022 90.00 1.45 1.45 18.50
Q1 2023 90.00 1.78 1.78 18.51
Q2 2023 90.00 1.88 1.88 18.28

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 17.40 17.51 5.44
Q2 2014 19.26 19.49 5.49
Q3 2014 20.07 20.40 6.16
Q4 2014 17.49 17.80 4.99
Q1 2015 17.94 18.18 5.46
Q2 2015 18.33 18.71 5.54
Q3 2015 15.53 15.78 4.80
Q4 2015 13.21 13.38 4.11
Q1 2016 12.19 12.36 3.70
Q2 2016 14.31 14.31 4.23
Q3 2016 13.04 13.04 3.37
Q4 2016 18.35 18.35 4.20
Q1 2017 15.94 15.94 3.18
Q2 2017 18.99 18.99 3.18
Q3 2017 17.93 17.93 2.82
Q4 2017 19.76 19.76 2.85
Q1 2018 20.91 20.91 2.77
Q2 2018 22.17 22.17 2.55
Q3 2018 24.69 24.69 2.20
Q4 2018 30.75 30.75 2.27
Q1 2019 36.33 36.33 2.57
Q2 2019 30.36 30.36 3.01
Q3 2019 23.14 23.14 3.39
Q4 2019 20.37 19.00 4.10
Q1 2020 14.14 13.30 3.26
Q2 2020 15.39 14.62 3.70
Q3 2020 18.12 17.25 4.51
Q4 2020 21.33 21.71 4.95
Q1 2021 22.97 23.39 5.22
Q2 2021 22.41 22.63 5.27
Q3 2021 24.50 24.78 5.17
Q4 2021 28.67 28.67 4.83
Q1 2022 43.08 43.08 5.45
Q2 2022 60.44 60.44 5.18
Q3 2022 79.30 79.30 5.13
Q4 2022 51.76 51.76 4.06
Q1 2023 46.40 46.40 4.47
Q2 2023 47.61 47.61 4.91

Business Segments (Million)

Compared With The
Period Cement Ready mixed concrete
Q1 2013 275.43 15.35
Q2 2013 284.96 15.78
Q3 2013 207.91 10.19
Q4 2013 228.09 12.89
Q1 2014 256.58 16.29
Q2 2014 256.32 13.81
Q3 2014 180.85 9.01
Q4 2014 239.95 12.88
Q1 2015 268.19 14.29
Q3 2019 190.17 -
Q4 2019 293.69 -
Q1 2020 261.75 -
Q2 2020 167.44 -
Q3 2020 231.58 -
Q4 2020 237.67 -
Q1 2021 223.35 -
Q2 2021 197.81 -
Q3 2021 170.31 -
Q4 2021 131.33 -
Q1 2022 142.49 -
Q2 2022 152.13 -
Q3 2022 166.78 -
Q4 2022 217.05 -
Q1 2023 174.07 -
Q2 2023 137.19 -

Analysts Estimates (Million)

Item Q2 2023 (e) Q2 2023 (a) Change‬
Average 32.74 38.10 16.36 %

Estimates vs Actual (Million)

Item Q2 2023 (e) Q2 2023 (a) Change
AlJazira Capital 34.00 38.10 12.0 %
Riyad Capital 33.00 38.10 15.4 %
OSOOL AND BAKHEET 31.30 38.10 21.7 %
SNB Capital 31.10 38.10 22.5 %
U-Capital 60.40 38.10 (36.9) %
Al Rajhi Capital 21.00 38.10 81.4 %
Value Capital 18.37 38.10 107.4 %


Financial Ratios
Current
Market Cap (M Riyal) 5,925.96
Enterprise Value (EV) (M) 5,357.28
Shares Outstanding ((M)) 110.56
EPS ( Riyal) (TTM) 2.47
Book Value (BV) ( Riyal) 24.89
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.33
P/E (TTM) 22.75
Price/book 2.15
Return on Average Assets (%) (TTM) 10.6
Return on Average Equity (%) (TTM) 12.0
more

Share Price

Qassim Cement Co.
53.60
(0.20) (0.37 %)

Qassim Cement Co. (QACCO)

More

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.