Yanbu Cement Co. reported a net profit after Zakat and tax of SAR 87 million in H1 2022, down 25%, compared to SAR 115.2 million in a year-earlier period, triggered by lower sales volumes and increased general and administrative expenses (G&As).
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 535.09 | 479.80 | (10.3 %) |
| Gross Income | 134.37 | 118.09 | (12.1 %) |
| Operating Income | 111.65 | 91.03 | (18.5 %) |
| Net Income | 114.21 | 86.97 | (23.8 %) |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.73 | 0.55 | (23.8 %) |
The company’s Q2 2022 net profit grew 15% year-on-year (YoY) to SAR 48 million, driven by lower cost of sales.
On a sequential basis, net profit increased 23.4%.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 242.69 | 238.17 | (1.9 %) |
| Gross Income | 53.14 | 63.65 | 19.8 % |
| Operating Income | 43.07 | 50.83 | 18.0 % |
| Net Income | 41.45 | 48.04 | 15.9 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.26 | 0.31 | 15.9 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 241.63 | 238.17 | (1.4 %) |
| Gross Income | 54.44 | 63.65 | 16.9 % |
| Operating Income | 40.20 | 50.83 | 26.5 % |
| Net Income | 38.93 | 48.04 | 23.4 % |
| Average Shares | 157.50 | 157.50 | - |
| EPS (Riyals) | 0.25 | 0.31 | 23.4 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 2.763 billion by the end of H1 2022, compared to SAR 3.110 billion a year earlier.
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