Yamama Cement Co. reported a net profit of SAR 304.3 million in 2023, a 15% drop from SAR 355.8 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 1,008.11 | 935.19 | (7.2 %) |
| Gross Income | 408.65 | 335.36 | (17.9 %) |
| Operating Income | 332.04 | 263.56 | (20.6 %) |
| Net Income | 355.80 | 304.25 | (14.5 %) |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 1.76 | 1.50 | (14.5 %) |
The annual net profit was hurt by lower sales volumes and value on subdued local demand in 2023. The company also reported higher finance costs for the same year.
The fourth-quarter net earnings fell by 61% to SAR 52.8 million from SAR 134.2 million in Q4 2022.
Sequentially, the cement producer’s profits tumbled by 29.4% from SAR 40.78 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 334.43 | 224.55 | (32.9 %) |
| Gross Income | 161.06 | 80.24 | (50.2 %) |
| Operating Income | 131.09 | 58.28 | (55.5 %) |
| Net Income | 134.15 | 52.76 | (60.7 %) |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.66 | 0.26 | (60.7 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 211.71 | 224.55 | 6.1 % |
| Gross Income | 37.59 | 80.24 | 113.4 % |
| Operating Income | 20.80 | 58.28 | 180.2 % |
| Net Income | 40.78 | 52.76 | 29.4 % |
| Average Shares | 202.50 | 202.50 | - |
| EPS (Riyals) | 0.20 | 0.26 | 29.4 % |
Shareholders’ equity, no minority interest, stood at SAR 4.73 billion as of Dec. 31, 2023, compared to SAR 4.65 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}}