Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 159.6 million for 2021, a drop of 43% from SAR 281 million a year earlier.
The decline was driven by lower selling prices, higher cost of revenue and general and administrative expenses, despite higher sales volume.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 939.99 | 934.03 | (0.6 %) |
| Gross Income | 341.78 | 223.61 | (34.6 %) |
| Operating Income | 300.64 | 129.38 | (57.0 %) |
| Net Income | 281.02 | 159.56 | (43.2 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 1.78 | 1.01 | (43.2 %) |
The company’s Q4 2021 net profit after Zakat and tax fell 86% to SAR 9.9 million.
On a sequential basis, net profit declined 72.2% from SAR 35.48 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 265.30 | 191.16 | (27.9 %) |
| Gross Income | 84.95 | 38.68 | (54.5 %) |
| Operating Income | 76.04 | (19.75) | (126.0 %) |
| Net Income | 70.91 | 9.87 | (86.1 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.45 | 0.06 | (86.1 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 207.78 | 191.16 | (8.0 %) |
| Gross Income | 50.56 | 38.68 | (23.5 %) |
| Operating Income | 37.47 | (19.75) | (152.7 %) |
| Net Income | 35.48 | 9.87 | (72.2 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.23 | 0.06 | (72.2 %) |
Total shareholders’ equity, after minority interest, fell to SAR 2.795 billion as of Dec. 31, 2021, from SAR 2.996 billion a year earlier.
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