Northern Region Cement Co. reported a net profit after Zakat and tax of SAR 106.1 million for 2021, a decline of 1.3% from SAR 107.5 million in the year-earlier period.
The profit decline was attributed to lower sales volume and average selling prices year-on-year (YoY), despite a significant enhancement in financing cost.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 651.48 | 561.91 | (13.7 %) |
| Gross Income | 196.13 | 199.85 | 1.9 % |
| Operating Income | 126.83 | 120.77 | (4.8 %) |
| Net Income | 107.50 | 106.06 | (1.3 %) |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.60 | 0.59 | (1.3 %) |
In Q4 2021, the company reported a net profit after Zakat and tax of SAR 35.1 million, a 21.3% decline, from SAR 44.62 million a year earlier.
Sequentially, net profit rose by nearly 91.3% from SAR 18.36 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 166.38 | 126.62 | (23.9 %) |
| Gross Income | 53.63 | 61.68 | 15.0 % |
| Operating Income | 41.64 | 36.26 | (12.9 %) |
| Net Income | 44.62 | 35.13 | (21.3 %) |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.25 | 0.20 | (21.3 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 128.10 | 126.62 | (1.2 %) |
| Gross Income | 42.02 | 61.68 | 46.8 % |
| Operating Income | 21.50 | 36.26 | 68.6 % |
| Net Income | 18.36 | 35.13 | 91.3 % |
| Average Shares | 180.00 | 180.00 | - |
| EPS (Riyals) | 0.10 | 0.20 | 91.3 % |
Total shareholders’ equity, after minority interest, grew to SAR 2.209 billion as of Dec. 31, 2021, from SAR 2.206 billion a year earlier.
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