Arabian Cement Co. reported a net profit after Zakat and tax of SAR 138.2 million for the first nine months of 2021, a 5% increase, from SAR 131.6 million in the same period last year.
The company attributed the profit increase to higher sales volume and value in Arabian Cement and its subsidiary in Jordan despite the decrease in average selling price and increase of marketing expenses amid higher export volume.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 581.11 | 777.40 | 33.8 % |
| Gross Income | 205.59 | 234.86 | 14.2 % |
| Operating Income | 161.37 | 161.70 | 0.2 % |
| Net Income | 131.62 | 138.21 | 5.0 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 1.32 | 1.38 | 5.0 % |
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 236.96 | 222.92 | (5.9 %) |
| Gross Income | 102.65 | 67.76 | (34.0 %) |
| Operating Income | 89.45 | 45.74 | (48.9 %) |
| Net Income | 78.90 | 37.73 | (52.2 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.79 | 0.38 | (52.2 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 232.98 | 222.92 | (4.3 %) |
| Gross Income | 62.97 | 67.76 | 7.6 % |
| Operating Income | 37.62 | 45.74 | 21.6 % |
| Net Income | 33.52 | 37.73 | 12.5 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.34 | 0.38 | 12.5 % |
The cement producer reported a net profit of SAR 37.7 million for Q3 2021, a 52% year-on-year (YoY) decline, on lower sales value as result of the decrease of average selling prices and increase in the cost of goods sold (COGS) and marketing expenses.
On a sequential basis, net profit grew 12.5% QoQ from SAR 12.54 million in Q2 2021.
Total shareholders' equity, excluding minority interests, amounted to SAR 2.779 million as of Sept. 30, 2021, compared to SAR 2.823 million in the year-earlier period.
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