Hail Cement Co. reported a decline of 61% in net profit after Zakat and tax to SAR 16.4 million in 2022, from SAR 42.4 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 253.31 | 365.46 | 44.3 % |
| Gross Income | 63.27 | 63.48 | 0.3 % |
| Operating Income | 41.20 | 42.28 | 2.6 % |
| Net Income | 42.41 | 16.41 | (61.3 %) |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.43 | 0.17 | (61.3 %) |
The profit decline was attributed to lower average selling prices for all products, and higher general and administrative expenses due to a SAR 10 million fine by a government agency.
The cement producer also reported losses from the change in the fair value of financial investments in 2022, against recording a profit in 2021, driven by the local and foreign financial markets affected by international events.
On the other hand, the company saw an increase in the quantity and value of sales year-on-year in 2022.
The cement producer reported a net profit after Zakat and tax of SAR 22.3 million in Q4 2022 against a net loss after Zakat and tax of SAR 4.77 million in the year-ago period.
The company’s net profit almost tripled in Q4 2022 from SAR 7.82 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 49.42 | 97.25 | 96.8 % |
| Gross Income | (0.42) | 30.53 | 7352.7 % |
| Operating Income | (4.05) | 26.15 | 746.5 % |
| Net Income | (4.77) | 22.32 | 568.4 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | (0.05) | 0.23 | 568.4 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 103.28 | 97.25 | (5.8 %) |
| Gross Income | 16.63 | 30.53 | 83.7 % |
| Operating Income | 11.14 | 26.15 | 134.7 % |
| Net Income | 7.82 | 22.32 | 185.5 % |
| Average Shares | 97.90 | 97.90 | - |
| EPS (Riyals) | 0.08 | 0.23 | 185.5 % |
Total shareholders’ equity, with no minority interest, fell to SAR 1.06 billion as of Dec. 31, 2022, from SAR 1.10 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}