City Cement Co. reported a net profit after Zakat and tax of SAR 67.3 million in 9M 2022, a decline of 56% from SAR 153.8 million in the year-earlier period, due to lower sales value and volume.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 402.03 | 297.42 | (26.0 %) |
| Gross Income | 181.11 | 87.59 | (51.6 %) |
| Operating Income | 155.84 | 62.31 | (60.0 %) |
| Net Income | 153.78 | 67.26 | (56.3 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 1.10 | 0.48 | (56.3 %) |
The net profit after Zakat and tax slumped 33.6% year-on-year (YoY) to SAR 25.3 million in Q3 2022.
On a sequential basis, Q3 net profit rose 1.7% from SAR 24.8 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 111.58 | 100.08 | (10.3 %) |
| Gross Income | 47.24 | 28.44 | (39.8 %) |
| Operating Income | 38.99 | 20.61 | (47.2 %) |
| Net Income | 38.05 | 25.26 | (33.6 %) |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.27 | 0.18 | (33.6 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 89.24 | 100.08 | 12.2 % |
| Gross Income | 32.87 | 28.44 | (13.5 %) |
| Operating Income | 24.23 | 20.61 | (15.0 %) |
| Net Income | 24.84 | 25.26 | 1.7 % |
| Average Shares | 140.00 | 140.00 | - |
| EPS (Riyals) | 0.18 | 0.18 | 1.7 % |
Shareholders’ equity, after minority interest, reached SAR 1.771 billion as of Sept. 30, 2022, from SAR 1.823 billion a year earlier.
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