Arabian Cement Co. reported a net profit after Zakat and tax of SAR 41.9 million for Q1 2022, a decline of 37% from SAR 67 million in the year-earlier period.
This earnings fall was triggered by lower sales value and volume both locally and from Jordan’s operations, despite higher profit from associates.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 321.50 | 259.26 | (19.4 %) |
| Gross Income | 104.13 | 69.12 | (33.6 %) |
| Operating Income | 78.34 | 44.41 | (43.3 %) |
| Net Income | 66.96 | 41.90 | (37.4 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.67 | 0.42 | (37.4 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 255.80 | 259.26 | 1.4 % |
| Gross Income | 74.08 | 69.12 | (6.7 %) |
| Operating Income | 43.51 | 44.41 | 2.1 % |
| Net Income | 23.31 | 41.90 | 79.7 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.23 | 0.42 | 79.7 % |
On a sequential basis, net profit surged by 79.7% from SAR 23.31 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, retreated 6.5% year-on-year (YoY) to SAR 2.792 billion in Q1 2022 from SAR 2.986 billion in the prior-year period.
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