Qassim Cement Co. reported a net profit of SAR 295.3 million for 2021, a decline of 30% from SAR 419.8 million a year earlier, driven by lower sales value and volume and higher cost of sales, despite lower selling and marketing expenses.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 898.42 | 722.80 | (19.5 %) |
| Gross Income | 473.23 | 285.95 | (39.6 %) |
| Operating Income | 422.28 | 263.83 | (37.5 %) |
| Net Income | 419.84 | 291.87 | (30.5 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 4.66 | 3.24 | (30.5 %) |
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 237.67 | 131.33 | (44.7 %) |
| Gross Income | 108.85 | 3.81 | (96.5 %) |
| Operating Income | 99.16 | 8.45 | (91.5 %) |
| Net Income | 113.09 | 30.44 | (73.1 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 1.26 | 0.34 | (73.1 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 170.31 | 131.33 | (22.9 %) |
| Gross Income | 69.66 | 3.81 | (94.5 %) |
| Operating Income | 59.70 | 8.45 | (85.8 %) |
| Net Income | 60.39 | 30.44 | (49.6 %) |
| Average Shares | 90.00 | 90.00 | - |
| EPS (Riyals) | 0.67 | 0.34 | (49.6 %) |
Q4 2021 earnings dropped 70% year-on-year (YoY) to SAR 33.8 million.
On a sequential basis, net profit tumbled 44%.
Shareholders' equity, excluding minority interest, at the end of the period amounted to SAR 1.73 billion, compared to SAR 1.80 billion last year.
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