Eastern Cement H1 2023 profit leaps 43% to SAR 107 mln; Q2 at SAR 51 mln

Eastern Province Cement Co. reported a net profit of SAR 107 million for H1 2023, leaping 43% compared to SAR 75 million in the prior-year period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	356.55	452.71	27.0 %
Gross Income	113.30	158.63	40.0 %
Operating Income	78.69	126.25	60.5 %
Net Income	75.48	106.90	41.6 %
Average Shares	86.00	86.00	-
EPS (Riyals)	0.88	1.24	41.6 %

This was triggered by higher value and volumes of cement and precast sales, along with lower general, administrative, and selling expenses. The company also cited higher dividends and Murabaha income, in addition to a decline in share of the results of an associate, a decrease in investment in an associate, as well as lower other income.

The company’s Q2 2023 net profit rose 4% to SAR 51 million from SAR 49 million a year earlier, mainly due to higher value and volumes of cement and precast sales, as well as lower general, administrative, and selling expenses.

On a sequential basis, Q2 net profit fell 8.2% from SAR 55.5 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	195.81	216.07	10.4 %
Gross Income	69.97	80.14	14.5 %
Operating Income	49.79	63.12	26.8 %
Net Income	49.16	51.33	4.4 %
Average Shares	86.00	86.00	-
EPS (Riyals)	0.57	0.60	4.4 %

Item	Q1 2023	Q2 2023	Change‬
Revenues	236.64	216.07	(8.7 %)
Gross Income	78.49	80.14	2.1 %
Operating Income	63.13	63.12	0.0 %
Net Income	55.57	51.33	(7.6 %)
Average Shares	86.00	86.00	-
EPS (Riyals)	0.65	0.60	(7.6 %)

Total shareholders’ equity, no minority interest, stood at SAR 2.39 billion by the end of H1 2023, down from SAR 2.40 billion in the year-earlier period.

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Share Price

Eastern Province Cement Co. (EPCCO)

	Current
Market Cap (M Riyal)	2,868.10
Enterprise Value (EV) (M)	2,646.30
Shares Outstanding ((M))	86.00
EPS ( Riyal) (TTM)	2.55
Book Value (BV) ( Riyal)	28.19
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	11.40
P/E (TTM)	13.07
Price/book	1.18
Return on Average Assets (%) (TTM)	7.7
Return on Average Equity (%) (TTM)	9.2

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	214.60	(9.8 %)	92.28	(19.6 %)	76.21	(26.3 %)
Q2 2014	217.73	7.1 %	94.15	17.0 %	80.60	17.5 %
Q3 2014	193.08	10.4 %	73.56	(6.9 %)	59.37	(13.7 %)
Q4 2014	219.70	3.4 %	92.72	25.2 %	78.20	36.9 %
2014	845.12	2.0 %	352.71	1.3 %	294.37	(1.2 %)
Q1 2015	254.48	18.6 %	108.33	17.4 %	90.05	18.1 %
Q2 2015	254.15	16.7 %	108.12	14.8 %	91.80	13.9 %
Q3 2015	192.12	(0.5 %)	82.94	12.8 %	67.99	14.5 %
Q4 2015	239.22	8.9 %	94.51	1.9 %	80.36	2.8 %
2015	939.96	11.2 %	393.90	11.7 %	330.19	12.2 %
Q1 2016	245.29	(3.6 %)	95.34	(12.0 %)	75.61	(16.0 %)
Q2 2016	207.53	(18.3 %)	66.52	(38.5 %)	50.47	(45.0 %)
Q3 2016	172.19	(10.4 %)	60.22	(27.4 %)	37.80	(44.4 %)
Q4 2016	231.59	(3.2 %)	68.47	(27.6 %)	54.28	(32.5 %)
2016	856.59	(8.9 %)	290.54	(26.2 %)	218.15	(33.9 %)
Q1 2017	202.27	(17.5 %)	60.26	(36.8 %)	39.91	(47.2 %)
Q2 2017	159.38	(23.2 %)	41.24	(38.0 %)	28.12	(44.3 %)
Q3 2017	122.10	(29.1 %)	32.73	(45.7 %)	18.13	(52.0 %)
Q4 2017	156.87	(32.3 %)	31.06	(54.6 %)	13.15	(75.8 %)
2017	640.61	(25.2 %)	165.28	(43.1 %)	99.31	(54.5 %)
Q1 2018	138.65	(31.5 %)	32.45	(46.2 %)	17.14	(57.0 %)
Q2 2018	151.62	(4.9 %)	37.73	(8.5 %)	20.69	(26.4 %)
Q3 2018	122.03	(0.1 %)	21.27	(35.0 %)	7.01	(61.3 %)
Q4 2018	153.44	(2.2 %)	39.71	27.8 %	24.01	82.5 %
2018	565.74	(11.7 %)	131.16	(20.6 %)	68.86	(30.7 %)
Q1 2019	181.19	30.7 %	57.79	78.1 %	41.14	140.0 %
Q2 2019	158.76	4.7 %	39.50	4.7 %	23.59	14.0 %
Q3 2019	173.84	42.5 %	50.72	138.5 %	37.35	432.6 %
Q4 2019	215.00	40.1 %	69.95	76.1 %	59.39	147.4 %
2019	728.80	28.8 %	217.96	66.2 %	161.47	134.5 %
Q1 2020	234.03	29.2 %	93.65	62.1 %	78.04	89.7 %
Q2 2020	146.27	(7.9 %)	46.41	17.5 %	31.30	32.7 %
Q3 2020	159.10	(8.5 %)	48.69	(4.0 %)	40.45	8.3 %
Q4 2020	203.03	(5.6 %)	69.29	(0.9 %)	57.46	(3.2 %)
2020	742.43	1.9 %	258.05	18.4 %	207.25	28.4 %
Q1 2021	216.69	(7.4 %)	73.50	(21.5 %)	58.65	(24.9 %)
Q2 2021	212.40	45.2 %	80.58	73.6 %	64.04	104.6 %
Q3 2021	169.36	6.5 %	56.03	15.1 %	44.74	10.6 %
Q4 2021	159.28	(21.6 %)	50.87	(26.6 %)	38.97	(32.2 %)
2021	757.73	2.1 %	260.98	1.1 %	206.40	(0.4 %)
Q1 2022	160.74	(25.8 %)	43.33	(41.0 %)	28.90	(50.7 %)
Q2 2022	195.81	(7.8 %)	69.97	(13.2 %)	49.79	(22.3 %)
Q3 2022	173.99	2.7 %	51.24	(8.6 %)	34.53	(22.8 %)
Q4 2022	253.65	59.3 %	83.17	63.5 %	67.55	73.3 %
2022	784.20	3.5 %	247.71	(5.1 %)	180.77	(12.4 %)
Q1 2023	236.64	47.2 %	78.49	81.1 %	63.13	118.5 %
Q2 2023	216.07	10.4 %	80.14	14.5 %	63.12	26.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	828.72	(3.1 %)	348.34	(17.2 %)	297.85	(20.5 %)
2014	845.12	2.0 %	352.71	1.3 %	294.37	(1.2 %)
2015	939.96	11.2 %	393.90	11.7 %	330.19	12.2 %
2016	856.59	(8.9 %)	290.54	(26.2 %)	218.15	(33.9 %)
2017	640.61	(25.2 %)	165.28	(43.1 %)	99.31	(54.5 %)
2018	565.74	(11.7 %)	131.16	(20.6 %)	68.86	(30.7 %)
2019	728.80	28.8 %	217.96	66.2 %	161.47	134.5 %
2020	742.43	1.9 %	258.05	18.4 %	207.25	28.4 %
2021	757.73	2.1 %	260.98	1.1 %	206.40	(0.4 %)
2022	784.20	3.5 %	247.71	(5.1 %)	180.77	(12.4 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	156.73	43.2 %	1.82	80.70	76.03	0.88
Q2 2014	81.64	5.4 %	0.95	0.00	81.63	0.95
Q3 2014	55.94	(17.3 %)	0.65	-	55.94	0.65
Q4 2014	79.25	45.0 %	0.92	-	79.25	0.92
2014	373.55	20.8 %	4.34	80.70	292.85	3.41
Q1 2015	84.94	(45.8 %)	0.99	-	84.94	0.99
Q2 2015	92.77	13.6 %	1.08	-	92.77	1.08
Q3 2015	66.73	19.3 %	0.78	-	66.73	0.78
Q4 2015	87.86	10.9 %	1.02	1.83	86.03	1.00
2015	332.89	(10.9 %)	3.87	1.83	331.06	3.85
Q1 2016	86.18	1.5 %	1.00	-	86.18	1.00
Q2 2016	47.33	(49.0 %)	0.55	-	47.33	0.55
Q3 2016	42.03	(37.0 %)	0.49	-	42.03	0.49
Q4 2016	51.66	(41.2 %)	0.60	-	51.66	0.60
2016	227.19	(31.8 %)	2.64	-	227.19	2.64
Q1 2017	50.40	(41.5 %)	0.59	-	50.40	0.59
Q2 2017	35.11	(25.8 %)	0.41	-	35.11	0.41
Q3 2017	13.88	(67.0 %)	0.16	-	13.88	0.16
Q4 2017	7.75	(85.0 %)	0.09	-	7.75	0.09
2017	107.14	(52.8 %)	1.25	-	107.14	1.25
Q1 2018	16.51	(67.2 %)	0.19	-	16.51	0.19
Q2 2018	18.80	(46.5 %)	0.22	-	18.80	0.22
Q3 2018	8.87	(36.1 %)	0.10	-	8.87	0.10
Q4 2018	25.56	229.7 %	0.30	-	25.56	0.30
2018	69.75	(34.9 %)	0.81	-	69.75	0.81
Q1 2019	45.97	178.4 %	0.53	-	45.97	0.53
Q2 2019	31.79	69.1 %	0.37	-	31.79	0.37
Q3 2019	36.45	310.8 %	0.42	-	36.45	0.42
Q4 2019	66.49	160.1 %	0.77	-	66.49	0.77
2019	180.70	159.1 %	2.10	-	180.70	2.10
Q1 2020	85.24	85.4 %	0.99	-	85.24	0.99
Q2 2020	30.47	(4.1 %)	0.35	-	30.47	0.35
Q3 2020	42.63	17.0 %	0.50	-	42.63	0.50
Q4 2020	58.88	(11.4 %)	0.68	-	58.88	0.68
2020	217.22	20.2 %	2.53	-	217.22	2.53
Q1 2021	59.88	(29.7 %)	0.70	-	59.88	0.70
Q2 2021	61.86	103.0 %	0.72	-	61.86	0.72
Q3 2021	37.72	(11.5 %)	0.44	-	37.72	0.44
Q4 2021	33.39	(43.3 %)	0.39	-	33.39	0.39
2021	192.85	(11.2 %)	2.24	-	192.85	2.24
Q1 2022	26.32	(56.0 %)	0.31	-	26.32	0.31
Q2 2022	49.16	(20.5 %)	0.57	-	49.16	0.57
Q3 2022	19.84	(47.4 %)	0.23	-	19.84	0.23
Q4 2022	47.98	43.7 %	0.56	(13.64)	61.62	0.72
2022	143.30	(25.7 %)	1.67	(13.64)	156.94	1.82
Q1 2023	55.57	111.1 %	0.65	-	55.57	0.65
Q2 2023	51.33	4.4 %	0.60	(9.49)	60.82	0.71

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	309.16	(20.0 %)	3.59	-	309.16	3.59
2014	373.55	20.8 %	4.34	80.70	292.85	3.41
2015	332.89	(10.9 %)	3.87	1.83	331.06	3.85
2016	227.19	(31.8 %)	2.64	-	227.19	2.64
2017	107.14	(52.8 %)	1.25	-	107.14	1.25
2018	69.75	(34.9 %)	0.81	-	69.75	0.81
2019	180.70	159.1 %	2.10	-	180.70	2.10
2020	217.22	20.2 %	2.53	-	217.22	2.53
2021	192.85	(11.2 %)	2.24	-	192.85	2.24
2022	143.30	(25.7 %)	1.67	(13.64)	156.94	1.82

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	40.45 %	45.79 %	34.23 %
Q2 2014	41.41 %	48.07 %	34.15 %
Q3 2014	39.86 %	46.57 %	32.01 %
Q4 2014	41.73 %	50.17 %	34.65 %
2014	41.73 %	50.17 %	34.65 %
Q1 2015	41.67 %	49.66 %	34.10 %
Q2 2015	41.54 %	48.96 %	33.96 %
Q3 2015	42.60 %	49.96 %	35.17 %
Q4 2015	41.91 %	48.80 %	35.16 %
2015	41.91 %	48.80 %	35.22 %
Q1 2016	40.92 %	47.21 %	35.64 %
Q2 2016	38.38 %	45.38 %	32.38 %
Q3 2016	36.63 %	43.53 %	30.27 %
Q4 2016	33.92 %	41.10 %	26.52 %
2016	33.92 %	41.10 %	26.52 %
Q1 2017	31.40 %	38.80 %	23.53 %
Q2 2017	30.07 %	37.43 %	23.41 %
Q3 2017	28.33 %	35.83 %	21.12 %
Q4 2017	25.80 %	32.36 %	16.73 %
2017	25.80 %	32.36 %	16.73 %
Q1 2018	23.83 %	31.92 %	12.70 %
Q2 2018	23.53 %	31.07 %	10.00 %
Q3 2018	21.52 %	28.97 %	9.13 %
Q4 2018	23.18 %	30.71 %	12.33 %
2018	23.18 %	30.71 %	12.33 %
Q1 2019	25.73 %	32.37 %	16.31 %
Q2 2019	25.72 %	32.31 %	18.23 %
Q3 2019	28.13 %	34.22 %	20.95 %
Q4 2019	29.91 %	36.19 %	24.79 %
2019	29.91 %	36.19 %	24.79 %
Q1 2020	32.47 %	38.20 %	28.14 %
Q2 2020	33.90 %	39.66 %	28.43 %
Q3 2020	34.29 %	40.57 %	29.80 %
Q4 2020	34.76 %	40.73 %	29.26 %
2020	34.76 %	40.73 %	29.26 %
Q1 2021	32.81 %	39.04 %	26.46 %
Q2 2021	34.38 %	40.04 %	28.22 %
Q3 2021	34.86 %	40.29 %	27.24 %
Q4 2021	34.44 %	40.49 %	25.45 %
2021	34.44 %	40.49 %	25.45 %
Q1 2022	32.89 %	39.77 %	22.70 %
Q2 2022	32.14 %	38.78 %	21.39 %
Q3 2022	31.23 %	37.32 %	18.66 %
Q4 2022	31.59 %	36.32 %	20.01 %
2022	31.59 %	36.32 %	20.01 %
Q1 2023	32.89 %	37.13 %	21.65 %
Q2 2023	33.29 %	37.68 %	22.47 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	42.03 %	47.15 %	37.31 %
2014	41.73 %	50.17 %	34.65 %
2015	41.91 %	48.80 %	35.22 %
2016	33.92 %	41.10 %	26.52 %
2017	25.80 %	32.36 %	16.73 %
2018	23.18 %	30.71 %	12.33 %
2019	29.91 %	36.19 %	24.79 %
2020	34.76 %	40.73 %	29.26 %
2021	34.44 %	40.49 %	25.45 %
2022	31.59 %	36.32 %	20.01 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	43.00 %	50.05 %	35.43 %
Q2 2014	43.24 %	50.58 %	37.49 %
Q3 2014	38.10 %	47.42 %	28.97 %
Q4 2014	42.20 %	52.29 %	36.07 %
Q1 2015	42.57 %	48.29 %	33.38 %
Q2 2015	42.54 %	47.91 %	36.50 %
Q3 2015	43.17 %	52.19 %	34.73 %
Q4 2015	39.51 %	47.55 %	35.96 %
Q1 2016	38.87 %	42.25 %	35.13 %
Q2 2016	32.05 %	40.29 %	22.80 %
Q3 2016	34.97 %	43.67 %	24.41 %
Q4 2016	29.56 %	38.71 %	22.31 %
Q1 2017	29.79 %	33.21 %	24.92 %
Q2 2017	25.88 %	34.18 %	22.03 %
Q3 2017	26.80 %	36.87 %	11.37 %
Q4 2017	19.80 %	25.90 %	4.94 %
Q1 2018	23.40 %	31.76 %	11.91 %
Q2 2018	24.89 %	31.11 %	12.40 %
Q3 2018	17.43 %	27.10 %	7.27 %
Q4 2018	25.88 %	32.26 %	16.66 %
Q1 2019	31.89 %	37.09 %	25.37 %
Q2 2019	24.88 %	30.92 %	20.02 %
Q3 2019	29.18 %	35.99 %	20.97 %
Q4 2019	32.53 %	39.48 %	30.93 %
Q1 2020	40.02 %	43.59 %	36.42 %
Q2 2020	31.73 %	38.02 %	20.83 %
Q3 2020	30.60 %	39.93 %	26.79 %
Q4 2020	34.13 %	40.01 %	29.00 %
Q1 2021	33.92 %	38.16 %	27.63 %
Q2 2021	37.94 %	42.06 %	29.12 %
Q3 2021	33.08 %	41.13 %	22.27 %
Q4 2021	31.94 %	40.88 %	20.96 %
Q1 2022	26.96 %	34.20 %	16.37 %
Q2 2022	35.73 %	38.81 %	25.10 %
Q3 2022	29.45 %	35.27 %	11.40 %
Q4 2022	32.79 %	36.47 %	24.29 %
Q1 2023	33.17 %	37.82 %	23.48 %
Q2 2023	37.09 %	40.87 %	28.15 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	86.00	4.14	3.21	24.03
Q2 2014	86.00	4.19	3.26	25.04
Q3 2014	86.00	4.06	3.12	25.79
Q4 2014	86.00	4.34	3.41	26.29
Q1 2015	86.00	3.51	3.51	24.72
Q2 2015	86.00	3.64	3.64	25.89
Q3 2015	86.00	3.76	3.76	26.43
Q4 2015	86.00	3.86	3.84	27.35
Q1 2016	86.00	3.88	3.86	25.81
Q2 2016	86.00	3.35	3.33	26.42
Q3 2016	86.00	3.06	3.04	26.90
Q4 2016	86.00	2.64	2.64	26.01
Q1 2017	86.00	2.23	2.23	25.13
Q2 2017	86.00	2.08	2.08	25.52
Q3 2017	86.00	1.76	1.76	25.69
Q4 2017	86.00	1.25	1.25	25.75
Q1 2018	86.00	0.85	0.85	26.07
Q2 2018	86.00	0.66	0.66	25.48
Q3 2018	86.00	0.60	0.60	25.43
Q4 2018	86.00	0.81	0.81	25.60
Q1 2019	86.00	1.15	1.15	26.16
Q2 2019	86.00	1.30	1.30	25.67
Q3 2019	86.00	1.63	1.63	26.02
Q4 2019	86.00	2.10	2.10	28.04
Q1 2020	86.00	2.56	2.56	28.77
Q2 2020	86.00	2.54	2.54	27.67
Q3 2020	86.00	2.61	2.61	28.27
Q4 2020	86.00	2.53	2.53	29.46
Q1 2021	86.00	2.23	2.23	30.34
Q2 2021	86.00	2.60	2.60	28.62
Q3 2021	86.00	2.54	2.54	27.81
Q4 2021	86.00	2.24	2.24	27.93
Q1 2022	86.00	1.85	1.85	27.56
Q2 2022	86.00	1.70	1.70	27.99
Q3 2022	86.00	1.50	1.50	27.02
Q4 2022	86.00	1.67	1.82	27.44
Q1 2023	86.00	2.01	2.17	27.13
Q2 2023	86.00	2.03	2.30	27.86

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	86.00	3.59	3.59	26.55
2014	86.00	4.34	3.41	26.29
2015	86.00	3.87	3.85	27.35
2016	86.00	2.64	2.64	26.01
2017	86.00	1.25	1.25	25.75
2018	86.00	0.81	0.81	25.60
2019	86.00	2.10	2.10	28.04
2020	86.00	2.53	2.53	29.46
2021	86.00	2.24	2.24	27.93
2022	86.00	1.67	1.82	27.44

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	13.87	17.93	2.39
Q2 2014	14.37	18.51	2.41
Q3 2014	15.63	20.33	2.46
Q4 2014	12.74	16.25	2.10
Q1 2015	15.71	15.71	2.23
Q2 2015	12.66	12.66	1.78
Q3 2015	9.94	9.94	1.42
Q4 2015	8.21	8.25	1.16
Q1 2016	8.00	8.05	1.20
Q2 2016	8.97	9.02	1.14
Q3 2016	8.29	8.35	0.94
Q4 2016	13.06	13.06	1.33
Q1 2017	13.12	13.12	1.16
Q2 2017	11.59	11.59	0.95
Q3 2017	13.71	13.71	0.94
Q4 2017	21.18	21.18	1.02
Q1 2018	29.65	29.65	0.97
Q2 2018	37.30	37.30	0.97
Q3 2018	33.68	33.68	0.80
Q4 2018	25.55	25.55	0.81
Q1 2019	21.00	21.00	0.93
Q2 2019	23.15	23.15	1.18
Q3 2019	20.83	20.83	1.30
Q4 2019	17.13	17.13	1.28
Q1 2020	11.03	11.03	0.98
Q2 2020	11.47	11.47	1.05
Q3 2020	13.41	13.41	1.24
Q4 2020	16.29	16.29	1.40
Q1 2021	23.26	23.26	1.71
Q2 2021	18.82	18.82	1.71
Q3 2021	19.67	19.67	1.80
Q4 2021	19.60	19.60	1.57
Q1 2022	26.51	26.51	1.78
Q2 2022	26.99	26.99	1.64
Q3 2022	29.94	29.94	1.66
Q4 2022	24.16	22.06	1.47
Q1 2023	20.19	18.71	1.49
Q2 2023	23.06	20.36	1.68

Period	P/E	Adjusted P/E	Price/book
2013	16.55	16.55	2.24
2014	12.74	16.25	2.10
2015	8.19	8.24	1.16
2016	13.06	13.06	1.33
2017	21.18	21.18	1.02
2018	25.55	25.55	0.81
2019	17.13	17.13	1.28
2020	16.29	16.29	1.40
2021	19.60	19.60	1.57
2022	24.16	22.06	1.47

Business Segments (Million)

Compared With The

Period	Cement	Ready-mixed Concrete	Construction support business	elimination
Q1 2014	195.12	2.88	16.61	-
Q2 2014	196.02	30.34	-	-
Q3 2014	145.32	43.77	3.99	-
Q4 2014	188.96	41.70	-	-
Q1 2015	204.72	48.51	1.25	-
Q2 2015	195.96	57.46	0.73	-
Q3 2015	141.41	49.49	1.22	-
Q4 2015	195.22	41.42	2.58	-
Q1 2016	191.97	53.32	-	-
Q2 2016	153.40	54.13	-	-
Q3 2016	103.72	68.46	-	-
Q4 2016	147.17	84.42	-	-
Q1 2017	130.20	72.08	-	-
Q2 2017	95.77	63.61	-	-
Q3 2017	80.20	41.89	-	-
Q4 2017	118.87	38.00	-	-
Q1 2018	102.98	35.67	-	-
Q2 2018	100.85	50.77	-	-
Q3 2018	80.01	42.02	-	-
Q4 2018	119.43	34.01	-	-
Q1 2019	150.03	31.16	-	-
Q2 2019	119.55	39.21	-	-
Q3 2019	146.01	27.83	-	-
Q4 2019	194.13	20.87	-	-
Q1 2020	208.18	25.85	-	-
Q2 2020	136.58	11.19	-	(1.50)
Q3 2020	144.71	15.24	-	(0.86)
Q4 2020	168.80	35.75	-	(1.52)
Q1 2021	188.05	29.95	-	(1.30)
Q2 2021	177.07	36.66	-	(1.33)
Q3 2021	137.29	32.78	-	(0.70)
Q4 2021	127.27	32.49	-	(0.48)
Q1 2022	126.49	34.25	-	-
Q2 2022	135.31	60.50	-	-
Q3 2022	130.64	43.36	-	-
Q4 2022	169.98	83.70	-	-
Q1 2023	177.78	60.36	-	(1.50)
Q2 2023	160.00	58.01	-	(1.93)

Period	Cement	Ready-mixed Concrete	Construction support business	elimination
2013	749.72	67.21	11.79	-
2014	725.42	118.68	1.02	-
2015	737.31	196.87	5.78	-
2016	596.26	260.33	-	-
2017	425.03	215.58	-	-
2018	403.28	162.47	-	-
2019	609.72	119.08	-	-
2020	658.28	88.03	-	(3.88)
2021	629.68	131.87	-	(3.81)
2022	562.42	221.80	-	(0.02)

Analysts Estimates (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change‬
Average	50.93	51.33	0.80 %

Estimates vs Actual (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change
AlJazira Capital	54.70	51.33	(6.2) %
OSOOL AND BAKHEET	48.30	51.33	6.3 %
Hermes	56.00	51.33	(8.3) %
SNB Capital	44.70	51.33	14.8 %

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Eastern Cement H1 2023 profit leaps 43% to SAR 107 mln; Q2 at SAR 51 mln

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Eastern Cement H1 2023 profit leaps 43% to SAR 107 mln; Q2 at SAR 51 mln

Financials (M)

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Share Price

Eastern Province Cement Co. (EPCCO)

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Financial results (Million)

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Profit Performance (Million)

Profitability

Profitability

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