Najran Cement H1 net profit slightly down to SAR 36.3 mln; Q2 at SAR 7.4 mln

Najran Cement H1 net profit slightly down to SAR 36.3 mln; Q2 at SAR 7.4 mln

31/07/2023 Argaam Exclusive

View other reports

Najran Cement Co.’s profits declined slightly in the first half of 2023 to SAR 36.3 million from SAR 36.5 million in H1 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 247.92 244.98 (1.2 %)
Gross Income 69.11 70.78 2.4 %
Operating Income 42.83 49.14 14.7 %
Net Income 36.54 36.34 (0.5 %)
Average Shares 170.00 170.00 -
EPS (Riyals) 0.21 0.21 (0.5 %)

The marginal decline was attributed to an increase in financing costs, which were offset by a decrease in selling and distribution expenses as well as the cost of sales.

 

The company’s net profit fell in Q2 2023 by 45% to SAR 7.4 million from SAR 13.26 million in Q2 2022.

 

On a quarterly basis, net earnings dropped 74.6% from SAR 28.98 million in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 108.05 101.30 (6.3 %)
Gross Income 30.80 25.46 (17.3 %)
Operating Income 16.71 13.92 (16.7 %)
Net Income 13.26 7.36 (44.5 %)
Average Shares 170.00 170.00 -
EPS (Riyals) 0.08 0.04 (44.5 %)

Total shareholders’ equity, with no minority interests, stood at SAR 1.98 billion as of June 30, 2023, compared to SAR 1.95 billion in a prior-year period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 168.68 (22.1 %) 75.07 (27.0 %) 53.69 (38.7 %) 0.32
Q2 2014 233.02 31.8 % 119.64 46.0 % 84.39 32.6 % 0.50
Q3 2014 173.59 55.2 % 80.01 118.4 % 41.16 55.0 % 0.24
Q4 2014 252.60 99.9 % 124.14 228.8 % 63.96 213.8 % 0.38
Q1 2015 304.23 80.4 % 159.97 113.1 % 92.00 71.3 % 0.54
Q2 2015 294.19 26.2 % 151.06 26.3 % 77.83 (7.8 %) 0.46
Q3 2015 211.89 22.1 % 91.15 13.9 % 32.07 (22.1 %) 0.19
Q4 2015 276.35 9.4 % 119.42 (3.8 %) 53.73 (16.0 %) 0.32
Q1 2016 224.43 (26.2 %) 84.99 (46.9 %) 61.34 (33.3 %) 0.36
Q2 2016 162.24 (44.9 %) 58.07 (61.6 %) 33.87 (56.5 %) 0.20
Q3 2016 119.69 (43.5 %) 29.62 (67.5 %) 15.62 (51.3 %) 0.09
Q4 2016 124.84 (54.8 %) 32.71 (72.6 %) 14.91 (72.2 %) 0.09
Q1 2017 111.39 (50.4 %) 27.57 (67.6 %) 11.22 (81.7 %) 0.07
Q2 2017 78.00 (51.9 %) 13.31 (77.1 %) (4.22) (112.5 %) (0.02)
Q3 2017 59.11 (50.6 %) (0.78) (102.6 %) (17.06) (209.2 %) (0.10)
Q4 2017 97.74 (21.7 %) 6.82 (79.1 %) (11.79) (179.1 %) (0.07)
Q1 2018 97.03 (12.9 %) 9.70 (64.8 %) (10.18) (190.7 %) (0.06)
Q2 2018 55.31 (29.1 %) (13.48) (201.3 %) (31.73) (651.2 %) (0.19)
Q3 2018 53.85 (8.9 %) (6.64) (746.3 %) (23.73) (39.1 %) (0.14)
Q4 2018 72.23 (26.1 %) (3.54) (151.9 %) (17.87) (51.5 %) (0.11)
Q1 2019 106.50 9.8 % 22.61 133.1 % 6.06 159.5 % 0.04
Q2 2019 76.26 37.9 % 14.28 205.9 % (2.59) 91.8 % (0.02)
Q3 2019 97.23 80.6 % 29.92 550.9 % 14.13 159.6 % 0.08
Q4 2019 136.41 88.9 % 52.41 1580.0 % 35.92 301.0 % 0.21
Q1 2020 156.38 46.8 % 56.43 149.5 % 40.12 562.4 % 0.24
Q2 2020 121.45 59.3 % 50.33 252.5 % 32.96 1371.6 % 0.19
Q3 2020 158.95 63.5 % 62.02 107.3 % 47.41 235.4 % 0.28
Q4 2020 186.41 36.7 % 81.14 54.8 % 80.45 124.0 % 0.47
Q1 2021 184.43 17.9 % 75.39 33.6 % 60.34 50.4 % 0.35
Q2 2021 131.58 8.3 % 46.66 (7.3 %) 32.71 (0.8 %) 0.19
Q3 2021 125.89 (20.8 %) 49.30 (20.5 %) 36.07 (23.9 %) 0.21
Q4 2021 139.66 (25.1 %) 58.97 (27.3 %) 36.03 (55.2 %) 0.21
Q1 2022 139.87 (24.2 %) 38.31 (49.2 %) 23.29 (61.4 %) 0.14
Q2 2022 108.05 (17.9 %) 30.80 (34.0 %) 13.26 (59.5 %) 0.08
Q3 2022 127.69 1.4 % 41.37 (16.1 %) 27.88 (22.7 %) 0.16
Q4 2022 160.08 14.6 % 64.78 9.9 % 48.39 34.3 % 0.28
Q1 2023 143.68 2.7 % 45.32 18.3 % 28.98 24.5 % 0.17
Q2 2023 101.30 (6.3 %) 25.46 (17.3 %) 7.36 (44.5 %) 0.04

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 39.65 % 50.02 % 28.15 %
Q2 2014 42.05 % 50.08 % 28.91 %
Q3 2014 44.53 % 50.30 % 28.45 %
Q4 2014 48.18 % 48.71 % 29.38 %
Q1 2015 50.21 % 46.69 % 29.22 %
Q2 2015 50.28 % 44.06 % 26.83 %
Q3 2015 49.52 % 42.01 % 25.01 %
Q4 2015 48.00 % 40.30 % 23.52 %
Q1 2016 44.36 % 40.03 % 22.34 %
Q2 2016 40.42 % 40.10 % 20.69 %
Q3 2016 37.32 % 41.46 % 21.02 %
Q4 2016 32.54 % 44.00 % 19.92 %
Q1 2017 28.56 % 42.68 % 14.59 %
Q2 2017 23.78 % 41.18 % 8.65 %
Q3 2017 19.50 % 39.32 % 1.30 %
Q4 2017 13.55 % 34.16 % (6.31 %)
Q1 2018 8.75 % 29.79 % (13.03 %)
Q2 2018 0.73 % 22.88 % (22.89 %)
Q3 2018 (1.18 %) 18.82 % (25.48 %)
Q4 2018 (5.01 %) 15.70 % (29.99 %)
Q1 2019 (0.36 %) 17.80 % (23.37 %)
Q2 2019 8.65 % 23.50 % (12.35 %)
Q3 2019 17.96 % 30.95 % (0.08 %)
Q4 2019 28.63 % 39.07 % 12.85 %
Q1 2020 32.82 % 41.76 % 18.78 %
Q2 2020 36.97 % 44.82 % 24.07 %
Q3 2020 38.59 % 45.16 % 27.29 %
Q4 2020 40.10 % 45.17 % 29.35 %
Q1 2021 41.29 % 45.75 % 31.19 %
Q2 2021 40.10 % 44.15 % 30.67 %
Q3 2021 40.19 % 44.43 % 30.48 %
Q4 2021 39.60 % 43.75 % 29.09 %
Q1 2022 35.99 % 40.46 % 24.61 %
Q2 2022 34.55 % 38.78 % 21.94 %
Q3 2022 32.89 % 37.02 % 20.28 %
Q4 2022 32.72 % 37.78 % 21.06 %
Q1 2023 33.78 % 39.27 % 21.97 %
Q2 2023 33.21 % 39.39 % 21.14 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 170.00 0.97 0.97 11.02
Q2 2014 170.00 1.09 1.09 11.52
Q3 2014 170.00 1.17 1.17 11.76
Q4 2014 170.00 1.43 1.43 12.13
Q1 2015 170.00 1.66 1.66 12.07
Q2 2015 170.00 1.62 1.62 12.53
Q3 2015 170.00 1.56 1.56 12.22
Q4 2015 170.00 1.50 1.50 12.52
Q1 2016 170.00 1.32 1.32 12.35
Q2 2016 170.00 1.06 1.06 11.95
Q3 2016 170.00 0.97 0.97 12.04
Q4 2016 170.00 0.74 0.74 12.10
Q1 2017 170.00 0.44 0.44 12.19
Q2 2017 170.00 0.22 0.22 12.16
Q3 2017 170.00 0.03 0.03 12.06
Q4 2017 170.00 (0.13) (0.13) 11.93
Q1 2018 170.00 (0.25) (0.25) 11.81
Q2 2018 170.00 (0.42) (0.42) 11.63
Q3 2018 170.00 (0.46) (0.46) 11.49
Q4 2018 170.00 (0.49) (0.49) 11.37
Q1 2019 170.00 (0.40) (0.40) 11.41
Q2 2019 170.00 (0.22) (0.22) 11.39
Q3 2019 170.00 0.00 0.00 11.48
Q4 2019 170.00 0.31 0.31 11.67
Q1 2020 170.00 0.52 0.52 11.90
Q2 2020 170.00 0.72 0.72 12.10
Q3 2020 170.00 0.92 0.92 12.38
Q4 2020 170.00 1.18 1.08 12.09
Q1 2021 170.00 1.30 1.19 11.70
Q2 2021 170.00 1.30 1.19 11.89
Q3 2021 170.00 1.23 1.13 11.36
Q4 2021 170.00 0.97 1.00 11.56
Q1 2022 170.00 0.75 0.78 11.45
Q2 2022 170.00 0.64 0.66 11.53
Q3 2022 170.00 0.59 0.61 11.68
Q4 2022 170.00 0.66 0.66 11.62
Q1 2023 170.00 0.70 0.70 11.90
Q2 2023 170.00 0.66 0.66 11.69

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 25.77 25.77 2.26
Q2 2014 27.68 27.68 2.61
Q3 2014 32.40 32.40 3.23
Q4 2014 18.48 18.48 2.18
Q1 2015 15.62 15.62 2.14
Q2 2015 16.13 16.13 2.08
Q3 2015 11.73 11.73 1.50
Q4 2015 9.71 9.71 1.17
Q1 2016 9.95 9.95 1.07
Q2 2016 12.45 12.45 1.11
Q3 2016 10.81 10.81 0.87
Q4 2016 16.12 16.12 0.99
Q1 2017 24.44 24.44 0.89
Q2 2017 45.30 45.30 0.82
Q3 2017 More than 100 More than 100 0.76
Q4 2017 NEG NEG 0.87
Q1 2018 NEG NEG 0.78
Q2 2018 NEG NEG 0.81
Q3 2018 NEG NEG 0.70
Q4 2018 NEG NEG 0.74
Q1 2019 NEG NEG 0.74
Q2 2019 NEG NEG 0.73
Q3 2019 NEG NEG 0.88
Q4 2019 37.99 37.99 1.03
Q1 2020 17.70 17.70 0.77
Q2 2020 14.91 14.91 0.89
Q3 2020 19.30 19.30 1.43
Q4 2020 15.43 16.95 1.51
Q1 2021 17.66 19.23 1.96
Q2 2021 18.59 20.25 2.03
Q3 2021 18.27 19.99 1.98
Q4 2021 18.59 18.15 1.56
Q1 2022 26.01 25.22 1.71
Q2 2022 23.10 22.27 1.28
Q3 2022 21.49 20.66 1.09
Q4 2022 18.17 18.17 1.04
Q1 2023 18.59 18.59 1.09
Q2 2023 21.35 21.35 1.21

Analysts Estimates (Million)

Item Q2 2023 (e) Q2 2023 (a) Change‬
Average 14.27 7.36 (48.4 %)

Estimates vs Actual (Million)

Item Q2 2023 (e) Q2 2023 (a) Change
Al Rajhi Capital 13.00 7.36 (43.4) %
United Securities Company 14.00 7.36 (47.4) %
OSOOL AND BAKHEET 15.80 7.36 (53.4) %


Financial Ratios
Current
Market Cap (M Riyal) 1,536.80
Enterprise Value (EV) (M) 1,851.56
Shares Outstanding ((M)) 170.00
EPS ( Riyal) (TTM) 0.36
Book Value (BV) ( Riyal) 11.90
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 24.79
P/E (TTM) 24.79
Price/book 0.76
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 3.1
more

Share Price

Najran Cement Co.
9.05
0.02 0.22 %

Najran Cement Co. (NAJRAN CEMENT)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.