Al Jouf Cement Co. reported a net profit after Zakat and tax of SAR 31.2 million for the first nine months of 2021, an increase of 2%, from SAR 30.7 million in year-earlier period.
This profit increase was driven by higher export sales and lower cost of sales per ton.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 184.24 | 176.51 | (4.2 %) |
| Gross Income | 57.80 | 64.30 | 11.3 % |
| Operating Income | 39.42 | 46.40 | 17.7 % |
| Net Income | 30.68 | 29.83 | (2.8 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.28 | 0.27 | (2.8 %) |
Q3 2021 net profit after Zakat and tax dropped 55% year-on-year (YoY) to SAR 3.7 million, on subdued sales, lower average selling prices, and higher financing expenses.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 68.94 | 54.89 | (20.4 %) |
| Gross Income | 18.41 | 14.80 | (19.6 %) |
| Operating Income | 12.69 | 8.91 | (29.8 %) |
| Net Income | 8.22 | 4.14 | (49.7 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.08 | 0.04 | (49.7 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 53.74 | 54.89 | 2.1 % |
| Gross Income | 19.25 | 14.80 | (23.1 %) |
| Operating Income | 13.12 | 8.91 | (32.1 %) |
| Net Income | 7.69 | 4.14 | (46.2 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.07 | 0.04 | (46.2 %) |
On a sequential basis, third-quarter net profit after Zakat and tax tumbled 54%.
Total shareholders’ equity (excluding minority interest) fell 6.5% YoY to SAR 1.46 billion for the nine-month period.
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