Umm Al-Qura Cement 9M 2023 profit down 66% to SAR 10.1 mln; Q3 at SAR 1.5 mln

31/10/2023 Argaam Exclusive

View other reports

Umm Al-Qura Cement Co. posted a 66% profit decline in the first nine months of 2023 to SAR 10.1 million, compared to SAR 29.3 million in the year-earlier period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	179.30	118.51	(33.9 %)
Gross Income	56.99	28.73	(49.6 %)
Operating Income	45.74	16.13	(64.7 %)
Net Income	29.30	10.05	(65.7 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.53	0.18	(65.7 %)

The profit decline was attributed to lower sales value due to fall in sales volume and selling price per ton. In addition, the company reported the financial impact of the technical malfunction in one of the components of Cement Mill No. 1.

General and administrative expenses for the current period rose year-on-year (YoY). It was, however, partially offset by the gains from an amendment of financial obligations following an agreement to reschedule a loan from the Saudi Industrial Development Fund.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	54.22	33.52	(38.2 %)
Gross Income	15.32	2.49	(83.7 %)
Operating Income	11.44	(2.70)	(123.6 %)
Net Income	6.12	1.45	(76.4 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.11	0.03	(76.4 %)

Item	Q2 2023	Q3 2023	Change‬
Revenues	37.83	33.52	(11.4 %)
Gross Income	10.99	2.49	(77.3 %)
Operating Income	7.20	(2.70)	(137.5 %)
Net Income	1.83	1.45	(20.7 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.03	0.03	(20.7 %)

In Q3 2023, net profit fell 76.4% to SAR 1.45 million from SAR 6.12 million in Q3 2022.

Sequentially, the bottom line retreated by 20.7% from SAR 1.83 million in Q2 2023.

Total shareholders’ equity, excluding minority interest, reached SAR 772.21 million as of Sept. 30, 2023, up from SAR 769.28 million a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2014	-	-	-	-	(3.42)	-	(0.06)
Q2 2014	-	-	-	-	(11.74)	-	(0.21)
Q3 2014	-	-	-	-	(6.90)	-	(0.13)
Q4 2014	-	-	-	-	(3.72)	-	(0.07)
2014	-	-	-	-	(21.14)	(208.0 %)	(0.38)
Q1 2015	-	-	-	-	(4.72)	(37.8 %)	(0.09)
Q2 2015	-	-	-	-	(7.62)	35.1 %	(0.14)
Q3 2015	-	-	-	-	(1.73)	74.9 %	(0.03)
Q4 2015	-	-	-	-	(10.00)	(169.1 %)	(0.18)
2015	-	-	-	-	(19.15)	9.4 %	(0.35)
Q1 2016	-	-	-	-	(3.65)	22.5 %	(0.07)
Q2 2016	-	-	-	-	(4.35)	42.9 %	(0.08)
Q3 2016	0.43	-	0.26	-	(4.28)	(146.8 %)	(0.08)
Q4 2016	39.62	-	11.68	-	1.85	118.5 %	0.03
2016	40.05	-	11.94	-	(10.43)	45.5 %	(0.19)
Q1 2017	51.70	-	24.49	-	17.02	565.9 %	0.31
Q2 2017	38.91	-	16.55	-	8.46	294.5 %	0.15
Q3 2017	44.09	10176.9 %	14.30	5487.1 %	5.11	219.4 %	0.09
Q4 2017	58.54	47.8 %	16.54	41.5 %	35.11	1797.9 %	0.64
2017	193.24	382.6 %	71.87	502.0 %	65.70	729.9 %	1.19
Q1 2018	56.54	9.4 %	20.28	(17.2 %)	10.17	(40.2 %)	0.18
Q2 2018	31.12	(20.0 %)	7.97	(51.9 %)	0.20	(97.6 %)	0.00
Q3 2018	33.71	(23.5 %)	6.06	(57.7 %)	(3.94)	(177.1 %)	(0.07)
Q4 2018	43.07	(26.4 %)	14.33	(13.4 %)	3.69	(89.5 %)	0.07
2018	164.44	(14.9 %)	48.63	(32.3 %)	10.13	(84.6 %)	0.18
Q1 2019	63.53	12.4 %	30.33	49.6 %	21.50	111.3 %	0.39
Q2 2019	46.42	49.2 %	21.55	170.5 %	12.29	6043.0 %	0.22
Q3 2019	63.96	89.8 %	28.14	364.5 %	18.94	581.2 %	0.34
Q4 2019	82.03	90.4 %	39.08	172.8 %	27.10	634.2 %	0.49
2019	255.94	55.6 %	119.10	144.9 %	79.82	688.1 %	1.45
Q1 2020	96.45	51.8 %	48.14	58.7 %	38.51	79.2 %	0.70
Q2 2020	62.56	34.8 %	30.42	41.1 %	20.98	70.7 %	0.38
Q3 2020	87.61	37.0 %	41.62	47.9 %	31.91	68.5 %	0.58
Q4 2020	86.71	5.7 %	37.86	(3.1 %)	26.27	(3.1 %)	0.48
2020	333.33	30.2 %	158.04	32.7 %	117.67	47.4 %	2.14
Q1 2021	90.41	(6.3 %)	40.86	(15.1 %)	31.04	(19.4 %)	0.56
Q2 2021	63.90	2.1 %	27.95	(8.1 %)	18.41	(12.2 %)	0.33
Q3 2021	56.96	(35.0 %)	22.40	(46.2 %)	12.47	(60.9 %)	0.23
Q4 2021	67.58	(22.1 %)	27.93	(26.2 %)	19.51	(25.7 %)	0.35
2021	278.83	(16.3 %)	119.14	(24.6 %)	81.44	(30.8 %)	1.48
Q1 2022	65.60	(27.4 %)	23.80	(41.7 %)	14.51	(53.3 %)	0.26
Q2 2022	59.48	(6.9 %)	17.86	(36.1 %)	8.68	(52.9 %)	0.16
Q3 2022	54.22	(4.8 %)	15.32	(31.6 %)	6.12	(50.9 %)	0.11
Q4 2022	41.92	(38.0 %)	13.84	(50.4 %)	(6.31)	(132.4 %)	(0.11)
2022	221.22	(20.7 %)	70.83	(40.6 %)	22.99	(71.8 %)	0.42
Q1 2023	47.16	(28.1 %)	15.25	(35.9 %)	6.78	(53.3 %)	0.12
Q2 2023	37.83	(36.4 %)	10.99	(38.5 %)	1.83	(79.0 %)	0.03
Q3 2023	33.52	(38.2 %)	2.49	(83.7 %)	1.45	(76.4 %)	0.03

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2013	-	-	-	-	(6.86)	-	(0.12)
2014	-	-	-	-	(21.14)	(208.0 %)	(0.38)
2015	-	-	-	-	(19.15)	9.4 %	(0.35)
2016	40.05	-	11.94	-	(10.43)	45.5 %	(0.19)
2017	193.24	382.6 %	71.87	502.0 %	65.70	729.9 %	1.19
2018	164.44	(14.9 %)	48.63	(32.3 %)	10.13	(84.6 %)	0.18
2019	255.94	55.6 %	119.10	144.9 %	79.82	688.1 %	1.45
2020	333.33	30.2 %	158.04	32.7 %	117.67	47.4 %	2.14
2021	278.83	(16.3 %)	119.14	(24.6 %)	81.44	(30.8 %)	1.48
2022	221.22	(20.7 %)	70.83	(40.6 %)	22.99	(71.8 %)	0.42

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	59.67 %	(3587.65 %)	(5194.17 %)
Q4 2016	29.82 %	27.15 %	(16.43 %)
2016	29.82 %	27.15 %	(16.43 %)
Q1 2017	39.70 %	53.18 %	15.37 %
Q2 2017	40.55 %	60.88 %	20.59 %
Q3 2017	38.45 %	60.77 %	20.82 %
Q4 2017	37.19 %	58.90 %	19.46 %
2017	37.19 %	58.91 %	19.46 %
Q1 2018	34.16 %	54.92 %	15.52 %
Q2 2018	31.05 %	52.58 %	11.82 %
Q3 2018	28.26 %	50.21 %	7.47 %
Q4 2018	29.57 %	53.04 %	6.16 %
2018	29.57 %	53.04 %	6.16 %
Q1 2019	34.23 %	57.65 %	12.51 %
Q2 2019	38.70 %	60.21 %	17.96 %
Q3 2019	43.48 %	63.28 %	26.00 %
Q4 2019	46.54 %	62.63 %	31.19 %
2019	46.54 %	62.62 %	31.19 %
Q1 2020	47.40 %	61.52 %	33.53 %
Q2 2020	47.79 %	61.24 %	34.60 %
Q3 2020	48.46 %	60.92 %	36.06 %
Q4 2020	47.41 %	59.52 %	35.30 %
2020	47.41 %	59.52 %	35.30 %
Q1 2021	46.06 %	58.38 %	33.67 %
Q2 2021	45.12 %	57.22 %	32.75 %
Q3 2021	43.32 %	56.60 %	29.60 %
Q4 2021	42.73 %	57.22 %	29.21 %
2021	42.73 %	57.22 %	29.21 %
Q1 2022	40.19 %	55.97 %	25.55 %
Q2 2022	36.86 %	52.69 %	22.10 %
Q3 2022	34.40 %	50.11 %	19.77 %
Q4 2022	32.02 %	49.67 %	15.78 %
2022	32.02 %	49.67 %	15.78 %
Q1 2023	30.71 %	49.85 %	13.41 %
Q2 2023	30.59 %	52.20 %	11.23 %
Q3 2023	26.54 %	50.01 %	4.30 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	29.82 %	27.15 %	(16.43 %)
2017	37.19 %	58.91 %	19.46 %
2018	29.57 %	53.04 %	6.16 %
2019	46.54 %	62.62 %	31.19 %
2020	47.41 %	59.52 %	35.30 %
2021	42.73 %	57.22 %	29.21 %
2022	32.02 %	49.67 %	15.78 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	59.67 %	(663.64 %)	(996.97 %)
Q4 2016	29.49 %	52.94 %	14.39 %
Q1 2017	47.36 %	66.66 %	32.93 %
Q2 2017	42.54 %	69.26 %	21.74 %
Q3 2017	32.44 %	53.41 %	11.58 %
Q4 2017	28.25 %	49.31 %	11.97 %
Q1 2018	35.86 %	52.02 %	17.99 %
Q2 2018	25.61 %	58.59 %	0.64 %
Q3 2018	17.97 %	40.99 %	(11.68 %)
Q4 2018	33.26 %	59.81 %	8.57 %
Q1 2019	47.75 %	64.57 %	33.84 %
Q2 2019	46.43 %	68.56 %	26.47 %
Q3 2019	43.99 %	60.49 %	29.61 %
Q4 2019	47.64 %	59.43 %	33.04 %
Q1 2020	49.91 %	60.61 %	39.93 %
Q2 2020	48.63 %	65.37 %	33.53 %
Q3 2020	47.50 %	59.47 %	36.43 %
Q4 2020	43.66 %	54.13 %	30.30 %
Q1 2021	45.20 %	56.54 %	34.33 %
Q2 2021	43.74 %	59.30 %	28.82 %
Q3 2021	39.33 %	57.41 %	21.90 %
Q4 2021	41.34 %	55.98 %	28.87 %
Q1 2022	36.28 %	51.45 %	22.11 %
Q2 2022	30.03 %	45.79 %	14.58 %
Q3 2022	28.26 %	45.90 %	11.29 %
Q4 2022	33.02 %	57.25 %	13.39 %
Q1 2023	32.34 %	52.93 %	14.37 %
Q2 2023	29.06 %	54.73 %	4.82 %
Q3 2023	7.43 %	31.50 %	(21.83 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	55.00	-	-	-
Q2 2014	55.00	-	-	9.59
Q3 2014	55.00	-	-	9.47
Q4 2014	55.00	(0.47)	(0.31)	9.49
Q1 2015	55.00	(0.49)	(0.34)	9.41
Q2 2015	55.00	(0.42)	(0.42)	9.27
Q3 2015	55.00	(0.32)	(0.32)	9.24
Q4 2015	55.00	(0.44)	(0.44)	9.14
Q1 2016	55.00	(0.42)	(0.42)	9.08
Q2 2016	55.00	(0.36)	(0.36)	9.00
Q3 2016	55.00	(0.41)	(0.41)	8.92
Q4 2016	55.00	(0.19)	(0.12)	8.95
Q1 2017	55.00	0.19	0.26	9.26
Q2 2017	55.00	0.42	0.49	9.41
Q3 2017	55.00	0.59	0.66	9.51
Q4 2017	55.00	1.19	0.68	10.15
Q1 2018	55.00	1.07	0.56	10.33
Q2 2018	55.00	0.92	0.41	10.33
Q3 2018	55.00	0.76	0.24	10.26
Q4 2018	55.00	0.18	0.18	10.33
Q1 2019	55.00	0.39	0.39	10.71
Q2 2019	55.00	0.61	0.61	10.94
Q3 2019	55.00	1.03	1.03	11.03
Q4 2019	55.00	1.45	1.45	11.52
Q1 2020	55.00	1.76	1.76	12.22
Q2 2020	55.00	1.92	1.92	12.34
Q3 2020	55.00	2.15	2.15	12.62
Q4 2020	55.00	2.14	2.14	13.10
Q1 2021	55.00	2.00	2.00	13.66
Q2 2021	55.00	1.96	1.96	13.59
Q3 2021	55.00	1.60	1.60	13.33
Q4 2021	55.00	1.48	1.48	13.68
Q1 2022	55.00	1.18	1.18	13.95
Q2 2022	55.00	1.00	1.00	13.87
Q3 2022	55.00	0.89	0.89	13.99
Q4 2022	55.00	0.42	0.63	13.86
Q1 2023	55.00	0.28	0.49	13.98
Q2 2023	55.00	0.15	0.37	14.01
Q3 2023	55.00	0.07	0.13	14.04

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	55.00	(0.12)	(0.12)	4.88
2014	55.00	(0.38)	(0.23)	9.49
2015	55.00	(0.35)	(0.35)	9.14
2016	55.00	(0.19)	(0.12)	8.95
2017	55.00	1.19	0.68	10.15
2018	55.00	0.18	0.18	10.33
2019	55.00	1.45	1.45	11.52
2020	55.00	2.14	2.14	13.10
2021	55.00	1.48	1.48	13.68
2022	55.00	0.42	0.63	13.86

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	3.56
Q3 2014	-	-	4.89
Q4 2014	NEG	NEG	3.85
Q1 2015	NEG	NEG	4.44
Q2 2015	NEG	NEG	4.26
Q3 2015	NEG	NEG	3.36
Q4 2015	NEG	NEG	2.97
Q1 2016	NEG	NEG	2.76
Q2 2016	NEG	NEG	2.65
Q3 2016	NEG	NEG	1.80
Q4 2016	NEG	NEG	2.00
Q1 2017	More than 100	74.48	2.06
Q2 2017	43.72	37.47	1.95
Q3 2017	28.50	25.48	1.77
Q4 2017	14.07	24.59	1.66
Q1 2018	14.92	28.55	1.54
Q2 2018	15.46	34.78	1.38
Q3 2018	15.33	47.38	1.13
Q4 2018	62.01	62.01	1.11
Q1 2019	30.77	30.77	1.12
Q2 2019	24.47	24.47	1.36
Q3 2019	16.83	16.83	1.57
Q4 2019	15.23	15.23	1.92
Q1 2020	10.22	10.22	1.47
Q2 2020	11.57	11.57	1.80
Q3 2020	12.65	12.65	2.16
Q4 2020	14.65	14.65	2.39
Q1 2021	15.17	15.17	2.23
Q2 2021	17.22	17.22	2.48
Q3 2021	17.65	17.65	2.12
Q4 2021	15.91	15.91	1.72
Q1 2022	23.13	23.13	1.96
Q2 2022	21.73	21.73	1.57
Q3 2022	23.26	23.26	1.48
Q4 2022	39.95	26.31	1.21
Q1 2023	57.95	32.53	1.15
Q2 2023	More than 100	52.14	1.38
Q3 2023	More than 100	More than 100	1.18

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	NEG	NEG	3.85
2015	NEG	NEG	2.97
2016	NEG	NEG	2.00
2017	14.07	24.59	1.66
2018	62.02	62.02	1.11
2019	15.23	15.23	1.92
2020	14.65	14.65	2.39
2021	15.91	15.91	1.72
2022	39.96	26.31	1.21

Analysts Estimates (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change‬
Average	0.89	1.45	63.44 %

Estimates vs Actual (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change
OSOOL AND BAKHEET	2.77	1.45	(47.8) %
Sico	(1.00)	1.45	244.6 %

Financial Ratios

	Current
Market Cap (M Riyal)	898.70
Enterprise Value (EV) (M)	1,155.71
Shares Outstanding ((M))	55.00
EPS ( Riyal) (TTM)	0.21
Book Value (BV) ( Riyal)	14.19
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.15
Return on Average Assets (%) (TTM)	1.0
Return on Average Equity (%) (TTM)	1.5

Umm Al-Qura Cement Co. (UACC)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

Umm Al-Qura Cement 9M 2023 profit down 66% to SAR 10.1 mln; Q3 at SAR 1.5 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Umm Al-Qura Cement Co. (UACC)

Comments {{getCommentCount()}}

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

{{comment.DisplayName}}