Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 39.4 million for the first quarter of 2022, a fall of 46% from SAR 72.8 million a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 292.40 | 241.63 | (17.4 %) |
| Gross Income | 81.23 | 54.44 | (33.0 %) |
| Operating Income | 68.58 | 40.20 | (41.4 %) |
| Net Income | 72.76 | 38.93 | (46.5 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.46 | 0.25 | (46.5 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 191.16 | 241.63 | 26.4 % |
| Gross Income | 38.68 | 54.44 | 40.7 % |
| Operating Income | (19.75) | 40.20 | 303.5 % |
| Net Income | 9.87 | 38.93 | 294.5 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.06 | 0.25 | 294.5 % |
The profit drop was attributed to a decline in average selling prices, higher cost of revenue and lower other income.
On a sequential basis, net profit more than tripled from SAR 9.87 million in Q4 2021, backed by better sales volume and revenue.
Shareholders’ equity, after minority interest, fell 7.6% to SAR 2.833 billion in Q1 2022, from SAR 3.069 billion a year earlier.
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