Yamama Cement’s profit rises to SAR 112.4 mln in Q1 2023

Yamama Cement’s profit rises to SAR 112.4 mln in Q1 2023

02/05/2023 Argaam Exclusive

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Yamama Cement Co. reported a net profit of SAR 112.4 million in Q1 2023, a more than three-fold increase, compared to SAR 29.6 million a year earlier. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 221.58 279.86 26.3 %
Gross Income 40.74 133.84 228.6 %
Operating Income 23.31 117.09 402.3 %
Net Income 29.62 112.40 279.5 %
Average Shares 202.50 202.50 -
EPS (Riyals) 0.15 0.56 279.5 %

The profit surge was spurred by higher sales value and lower Zakat for the current quarter compared to the same quarter of the previous year.

 

Compared to Q4 2022, net earnings dropped 16.2% from SAR 134.15 million on a decline in other revenues.   

 

Shareholders’ equity, no minority interest, stood at SAR 4.56 billion by March 31, 2023, compared to SAR 4.31 billion in a year-earlier period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 367.36 (23.9 %) 181.30 (38.1 %) 168.94 (39.5 %)
Q2 2014 366.02 (19.6 %) 198.63 (26.1 %) 182.69 (28.7 %)
Q3 2014 277.23 (5.6 %) 148.57 (3.6 %) 135.57 (4.1 %)
Q4 2014 318.26 2.7 % 183.72 11.2 % 171.10 12.6 %
Q1 2015 338.94 (7.7 %) 182.05 0.4 % 167.67 (0.8 %)
Q2 2015 339.50 (7.2 %) 188.03 (5.3 %) 169.92 (7.0 %)
Q3 2015 280.27 1.1 % 166.47 12.0 % 150.44 11.0 %
Q4 2015 352.36 10.7 % 199.89 8.8 % 185.12 8.2 %
Q1 2016 376.04 10.9 % 186.55 2.5 % 171.01 2.0 %
Q2 2016 280.46 (17.4 %) 113.02 (39.9 %) 97.02 (42.9 %)
Q3 2016 235.63 (15.9 %) 98.99 (40.5 %) 85.94 (42.9 %)
Q4 2016 232.88 (33.9 %) 71.50 (64.2 %) 57.61 (68.9 %)
Q1 2017 220.19 (41.4 %) 62.92 (66.3 %) 48.08 (71.9 %)
Q2 2017 194.75 (30.6 %) 32.95 (70.8 %) 15.25 (84.3 %)
Q3 2017 164.19 (30.3 %) 41.95 (57.6 %) 25.46 (70.4 %)
Q4 2017 169.12 (27.4 %) 53.85 (24.7 %) 41.43 (28.1 %)
Q1 2018 141.15 (35.9 %) 38.81 (38.3 %) 24.96 (48.1 %)
Q2 2018 111.99 (42.5 %) (13.34) (140.5 %) (29.60) (294.1 %)
Q3 2018 107.71 (34.4 %) (24.70) (158.9 %) (39.29) (254.3 %)
Q4 2018 160.36 (5.2 %) 33.32 (38.1 %) 15.74 (62.0 %)
Q1 2019 213.88 51.5 % 90.75 133.8 % 73.89 196.1 %
Q2 2019 165.33 47.6 % 65.45 590.6 % 50.79 271.6 %
Q3 2019 186.50 73.1 % 76.13 408.2 % 60.77 254.7 %
Q4 2019 236.16 47.3 % 104.31 213.1 % 83.64 431.4 %
Q1 2020 290.02 35.6 % 145.97 60.9 % 131.29 77.7 %
Q2 2020 167.13 1.1 % 77.94 19.1 % 56.60 11.4 %
Q3 2020 249.65 33.9 % 114.29 50.1 % 98.64 62.3 %
Q4 2020 249.21 5.5 % 101.85 (2.4 %) 84.60 1.2 %
Q1 2021 180.26 (37.8 %) 71.82 (50.8 %) 57.40 (56.3 %)
Q2 2021 202.58 21.2 % 95.95 23.1 % 80.45 42.1 %
Q3 2021 170.67 (31.6 %) 54.39 (52.4 %) 40.17 (59.3 %)
Q4 2021 182.34 (26.8 %) (1.75) (101.7 %) (21.17) (125.0 %)
Q1 2022 221.58 22.9 % 40.74 (43.3 %) 23.31 (59.4 %)
Q2 2022 209.29 3.3 % 100.75 5.0 % 81.06 0.8 %
Q3 2022 248.63 45.7 % 111.92 105.8 % 96.58 140.4 %
Q4 2022 334.43 83.4 % 161.06 9298.0 % 131.09 719.2 %
Q1 2023 279.86 26.3 % 133.84 228.6 % 117.09 402.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 174.64 (36.9 %) 0.86 - 174.64 0.86
Q2 2014 207.36 (22.5 %) 1.02 31.00 176.36 0.87
Q3 2014 137.16 (7.4 %) 0.68 - 137.16 0.68
Q4 2014 151.69 (14.6 %) 0.75 (15.00) 166.69 0.82
Q1 2015 175.41 0.4 % 0.87 - 175.41 0.87
Q2 2015 191.48 (7.7 %) 0.95 - 191.48 0.95
Q3 2015 95.53 (30.4 %) 0.47 - 95.53 0.47
Q4 2015 152.80 0.7 % 0.75 (15.00) 167.80 0.83
Q1 2016 150.46 (14.2 %) 0.74 - 150.46 0.74
Q2 2016 116.29 (39.3 %) 0.57 - 116.29 0.57
Q3 2016 56.31 (41.1 %) 0.28 - 56.31 0.28
Q4 2016 34.81 (77.2 %) 0.17 (15.00) 49.81 0.25
Q1 2017 50.82 (66.2 %) 0.25 - 50.82 0.25
Q2 2017 12.17 (89.5 %) 0.06 - 12.17 0.06
Q3 2017 29.15 (48.2 %) 0.14 - 29.15 0.14
Q4 2017 12.45 (64.2 %) 0.06 (21.08) 33.53 0.17
Q1 2018 23.84 (53.1 %) 0.12 - 23.84 0.12
Q2 2018 (36.25) (397.9 %) (0.18) - (36.25) (0.18)
Q3 2018 (46.38) (259.1 %) (0.23) - (46.38) (0.23)
Q4 2018 6.95 (44.2 %) 0.03 - 6.95 0.03
Q1 2019 70.63 196.2 % 0.35 - 70.63 0.35
Q2 2019 53.17 246.7 % 0.26 - 53.17 0.26
Q3 2019 54.73 218.0 % 0.27 - 54.73 0.27
Q4 2019 77.80 1019.4 % 0.38 - 77.80 0.38
Q1 2020 123.97 75.5 % 0.61 - 123.97 0.61
Q2 2020 50.84 (4.4 %) 0.25 - 50.84 0.25
Q3 2020 95.32 74.2 % 0.47 - 95.32 0.47
Q4 2020 135.43 74.1 % 0.67 36.40 99.03 0.49
Q1 2021 54.87 (55.7 %) 0.27 - 54.87 0.27
Q2 2021 77.68 52.8 % 0.38 - 77.68 0.38
Q3 2021 39.97 (58.1 %) 0.20 - 39.97 0.20
Q4 2021 (18.86) (113.9 %) (0.09) - (18.86) (0.09)
Q1 2022 29.62 (46.0 %) 0.15 8.33 21.28 0.11
Q2 2022 90.70 16.8 % 0.45 10.32 80.38 0.40
Q3 2022 101.33 153.5 % 0.50 - 101.33 0.50
Q4 2022 134.15 811.4 % 0.66 15.83 118.32 0.58
Q1 2023 112.40 279.5 % 0.56 - 112.40 0.56

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 53.94 % 63.64 % 52.10 %
Q2 2014 52.30 % 62.41 % 48.76 %
Q3 2014 52.54 % 62.78 % 48.54 %
Q4 2014 53.60 % 63.82 % 49.28 %
Q1 2015 54.82 % 65.14 % 50.41 %
Q2 2015 55.13 % 65.64 % 52.65 %
Q3 2015 56.41 % 66.81 % 49.27 %
Q4 2015 56.17 % 66.76 % 48.07 %
Q1 2016 54.96 % 66.81 % 44.90 %
Q2 2016 51.66 % 66.29 % 41.12 %
Q3 2016 48.09 % 65.68 % 39.44 %
Q4 2016 41.78 % 63.24 % 33.14 %
Q1 2017 35.75 % 58.97 % 28.19 %
Q2 2017 30.15 % 52.41 % 19.14 %
Q3 2017 25.78 % 46.15 % 17.48 %
Q4 2017 25.61 % 44.06 % 16.80 %
Q1 2018 25.04 % 45.58 % 14.75 %
Q2 2018 20.68 % 44.56 % 8.57 %
Q3 2018 10.31 % 37.30 % (4.77 %)
Q4 2018 6.54 % 33.33 % (9.95 %)
Q1 2019 14.48 % 37.33 % (0.85 %)
Q2 2019 25.46 % 46.16 % 13.04 %
Q3 2019 36.58 % 54.50 % 25.55 %
Q4 2019 41.98 % 57.40 % 31.97 %
Q1 2020 44.63 % 53.46 % 35.27 %
Q2 2020 45.96 % 48.82 % 34.93 %
Q3 2020 46.93 % 44.75 % 36.90 %
Q4 2020 46.03 % 39.58 % 38.61 %
Q1 2021 43.24 % 36.01 % 35.46 %
Q2 2021 43.54 % 37.30 % 37.08 %
Q3 2021 40.37 % 33.76 % 33.83 %
Q4 2021 29.95 % 22.45 % 20.88 %
Q1 2022 24.36 % 16.88 % 15.45 %
Q2 2022 24.76 % 16.82 % 15.66 %
Q3 2022 29.20 % 21.82 % 21.37 %
Q4 2022 40.88 % 36.26 % 31.69 %
Q1 2023 47.34 % 46.97 % 38.47 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 202.50 3.79 3.67 18.68
Q2 2014 202.50 3.50 3.22 19.69
Q3 2014 202.50 3.44 3.17 19.06
Q4 2014 202.50 3.31 3.23 18.43
Q1 2015 202.50 3.32 3.24 18.52
Q2 2015 202.50 3.24 3.31 18.70
Q3 2015 202.50 3.03 3.11 18.29
Q4 2015 202.50 3.04 3.11 18.18
Q1 2016 202.50 2.91 2.99 18.16
Q2 2016 202.50 2.54 2.62 18.19
Q3 2016 202.50 2.35 2.42 18.16
Q4 2016 202.50 1.77 1.84 16.79
Q1 2017 202.50 1.28 1.35 16.82
Q2 2017 202.50 0.76 0.84 16.79
Q3 2017 202.50 0.63 0.70 16.92
Q4 2017 202.50 0.52 0.62 16.96
Q1 2018 202.50 0.38 0.49 17.06
Q2 2018 202.50 0.14 0.25 16.86
Q3 2018 202.50 (0.23) (0.12) 16.58
Q4 2018 202.50 (0.26) (0.26) 16.64
Q1 2019 202.50 (0.02) (0.02) 17.01
Q2 2019 202.50 0.42 0.42 17.29
Q3 2019 202.50 0.92 0.92 17.58
Q4 2019 202.50 1.27 1.27 17.98
Q1 2020 202.50 1.53 1.53 18.49
Q2 2020 202.50 1.52 1.52 18.30
Q3 2020 202.50 1.72 1.72 18.83
Q4 2020 202.50 2.00 1.82 19.39
Q1 2021 202.50 1.66 1.48 20.38
Q2 2021 202.50 1.79 1.61 21.02
Q3 2021 202.50 1.52 1.34 21.23
Q4 2021 202.50 0.76 0.76 21.14
Q1 2022 202.50 0.63 0.59 21.32
Q2 2022 202.50 0.70 0.61 21.72
Q3 2022 202.50 1.00 0.91 22.25
Q4 2022 202.50 1.76 1.59 22.97
Q1 2023 202.50 2.17 2.04 22.52

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 15.36 15.87 3.12
Q2 2014 18.01 19.56 3.20
Q3 2014 18.89 20.53 3.41
Q4 2014 14.47 14.82 2.60
Q1 2015 13.55 13.88 2.43
Q2 2015 14.11 13.80 2.44
Q3 2015 12.70 12.39 2.11
Q4 2015 10.36 10.11 1.73
Q1 2016 9.59 9.35 1.54
Q2 2016 10.87 10.57 1.52
Q3 2016 8.33 8.08 1.08
Q4 2016 12.93 12.41 1.36
Q1 2017 14.30 13.52 1.08
Q2 2017 23.13 21.08 1.05
Q3 2017 26.45 23.65 0.98
Q4 2017 34.13 28.41 1.04
Q1 2018 41.54 32.66 0.93
Q2 2018 More than 100 64.05 0.94
Q3 2018 NEG NEG 0.81
Q4 2018 NEG NEG 0.77
Q1 2019 NEG NEG 0.91
Q2 2019 41.76 41.76 1.01
Q3 2019 25.33 25.33 1.32
Q4 2019 20.46 20.46 1.44
Q1 2020 11.84 11.84 0.98
Q2 2020 14.30 14.30 1.19
Q3 2020 15.13 15.13 1.38
Q4 2020 14.75 16.21 1.52
Q1 2021 19.95 22.37 1.63
Q2 2021 19.12 21.25 1.63
Q3 2021 19.86 22.52 1.42
Q4 2021 34.26 34.26 1.23
Q1 2022 51.09 54.64 1.52
Q2 2022 36.01 41.48 1.16
Q3 2022 28.71 31.62 1.29
Q4 2022 15.37 17.02 1.18
Q1 2023 14.22 15.12 1.37

Analysts Estimates (Million)

Item Q1 2023 (e) Q1 2023 (a) Change‬
Average 94.48 112.40 18.96 %

Estimates vs Actual (Million)

Item Q1 2023 (e) Q1 2023 (a) Change
Riyad Capital 107.00 112.40 5.0 %
SNB Capital 104.00 112.40 8.1 %
Sico 93.00 112.40 20.9 %
AlJazira Capital 92.80 112.40 21.1 %
OSOOL AND BAKHEET 90.59 112.40 24.1 %
Al Rajhi Capital 89.00 112.40 26.3 %
Hermes 85.00 112.40 32.2 %


Financial Ratios
Current
Market Cap (M Riyal) 6,611.63
Enterprise Value (EV) (M) 8,191.23
Shares Outstanding ((M)) 202.50
EPS ( Riyal) (TTM) 1.73
Book Value (BV) ( Riyal) 23.84
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.87
P/E (TTM) 18.87
Price/book 1.37
Return on Average Assets (%) (TTM) 5.2
Return on Average Equity (%) (TTM) 7.4
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Share Price

Yamama Cement Co.
32.65
0.80 2.51 %

Yamama Cement Co. (YC)

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