Arabian Cement Co. reported a net profit after Zakat and tax of SAR 184.9 million in 2020, down 11% compared to SAR 208.7 million in the previous year.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 781.97 | 871.92 | 11.5 % |
| Gross Income | 315.71 | 302.54 | (4.2 %) |
| Operating Income | 256.76 | 230.82 | (10.1 %) |
| Net Income | 208.72 | 184.94 | (11.4 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 2.09 | 1.85 | (11.4 %) |
The decline was attributed to an increase in cost of goods sold (COGS) and selling and marketing expenses due to higher volume of export and Zakat provision in the parent company.
However, the cement producer reported increase in sales volume and value in Saudi Arabia and higher dividends from investments, along with lower general and administrative (G&A) expenses and financial charges.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 234.72 | 290.80 | 23.9 % |
| Gross Income | 96.13 | 96.95 | 0.9 % |
| Operating Income | 78.01 | 69.45 | (11.0 %) |
| Net Income | 73.63 | 53.33 | (27.6 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.74 | 0.53 | (27.6 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 236.96 | 290.80 | 22.7 % |
| Gross Income | 102.65 | 96.95 | (5.6 %) |
| Operating Income | 89.45 | 69.45 | (22.4 %) |
| Net Income | 78.90 | 53.33 | (32.4 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.79 | 0.53 | (32.4 %) |
The Q4 2020 profit fell 28% year-on-year (YoY) to SAR 53.3 million.
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