Umm Al-Qura Cement 9M 2022 profit drops 54% to SAR 28.5 mln; Q3 at SAR 6.3 mln

03/11/2022 Argaam Exclusive
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Umm Al-Qura Cement Co. reported a net profit after Zakat and tax of SAR 28.5 million for the first nine months of 2022, a decrease of 54%, from SAR 61.9 million in the same period a year ago. 



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 211.26 179.30 (15.1 %)
Gross Income 91.21 56.99 (37.5 %)
Operating Income 81.38 45.74 (43.8 %)
Net Income 61.93 29.30 (52.7 %)
Average Shares 55.00 55.00 -
Earnings Per Share before unusual items 1.13 0.53 (52.7 %)
EPS (Riyals) 1.13 0.53 (52.7 %)

The cement producer attributed the profit fall to lower sales due to a decline in the quantity and average selling price. 

 

The company also cited the financial impact of the technical malfunction in cement mill No. (1), in addition to higher cost of sales, as well as selling and marketing expenses, and general and administrative costs. 

 

The company’s net profit after Zakat and tax for Q3 2022 stood at SAR 6.3 million, declining by 50% year-on-year (YoY), mainly due to lower sales. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 56.96 54.22 (4.8 %)
Gross Income 22.40 15.32 (31.6 %)
Operating Income 19.11 11.44 (40.1 %)
Net Income 12.47 6.12 (50.9 %)
Average Shares 55.00 55.00 -
Earnings Per Share before unusual items 0.23 0.11 (50.9 %)
EPS (Riyals) 0.23 0.11 (50.9 %)

On a sequential basis, Q3 2022 net profit dropped 24.8% from SAR 8.33 million.

 

Shareholder’s equity, excluding minority rights, at the end of 9M 2022 stood at SAR 765 million, compared to SAR 732.9 million a year ago.

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Share Price

Umm Al-Qura Cement Co.
20.22
0.50 2.54 %

Umm Al-Qura Cement Co. (UACC)

1 Day 2.54 % 5 Days 2.54 % 3 Months 12.71 % 6 Months 20.93 % Year 29.28 % 2 Years 22.69 % 5 Years 12.33 % All 83.82 %
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:3011:5012:1012:2012:3012:4013:0013:1013:3013:5014:1014:3014:4015:1092.592.759393.2593.593.759494.2594.594.75
Close : 93.60 | Apr 3, 15:11
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Financial Ratios
Current
Market Cap (M Riyal) 1,112.10
Enterprise Value (EV) (M) 1,354.10
Shares Outstanding ((M)) 55.00
EPS ( Riyal) (TTM) 0.87
Book Value (BV) ( Riyal) 14.79
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.30
P/E (TTM) 23.30
Price/book 1.37
Return on Average Assets (%) (TTM) 4.0
Return on Average Equity (%) (TTM) 4.8
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