Arabian Cement’s profit falls 3% to SAR 131.6 mln in 9M 2020

27/10/2020 Argaam Exclusive

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Arabian Cement Co. reported a net profit after Zakat and tax of SAR 131.6 million in the first nine months of 2020, a 3% year-on-year (YoY) decline, compared to SAR 135.1 million a year earlier.

 

The decline was mainly attributed to lower sales volumes in its Jordan subsidiary due to COVID-19 closures and increase in marketing expenses despite higher dividends from investments in financial instruments.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 547.25 581.11 6.2 %
Gross Income 219.58 205.59 (6.4 %)
Operating Income 178.75 161.37 (9.7 %)
Net Income 135.09 131.62 (2.6 %)
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) 1.35 1.32 (2.6 %)
EPS (Riyals) 1.35 1.32 (2.6 %)

In Q3 2020, the cement producer’s net profit after Zakat and tax rose 30% year-on-year (YoY) to SAR 78.9 million, due to higher sales volumes in its Jordan subsidiary, as well as lower general and administrative expenses.

 

When compared to the previous quarter, net profit surged 938.1%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 193.47 236.96 22.5 %
Gross Income 93.50 102.65 9.8 %
Operating Income 80.43 89.45 11.2 %
Net Income 60.60 78.90 30.2 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) 0.61 0.79 30.2 %
EPS (Riyals) 0.61 0.79 30.2 %

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Share Price

Arabian Cement Co.
27.25
0.35 1.30 %

Arabian Cement Co. (ACC)

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Financial Ratios
Current
Market Cap (M Riyal) 2,725.00
Enterprise Value (EV) (M) 2,759.62
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 1.60
Book Value (BV) ( Riyal) 25.65
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.02
P/E (TTM) 17.02
Price/book 1.06
Return on Average Assets (%) (TTM) 5.1
Return on Average Equity (%) (TTM) 6.2
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