Hail Cement profit drops 19% to SAR 15M in Q1 2024

Hail Cement profit drops 19% to SAR 15M in Q1 2024

14/05/2024 Argaam Exclusive

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Hail Cement Co. posted a 19% fall in net profit to SAR 15 million for the first quarter of 2024, from SAR 18.5 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 61.85 73.78 19.3 %
Gross Income 22.59 20.11 (11.0 %)
Operating Income 16.06 13.08 (18.5 %)
Net Income 18.51 15.00 (19.0 %)
Average Shares 97.90 97.90 -
EPS (Riyals) 0.19 0.15 (19.0 %)

The annual net earnings were hurt by the higher cost of sales, Zakat charges, as well as selling and distribution expenses.

 

On the other hand, sales revenue increased on a year-on-year (YoY) basis, thanks to better sales volumes and average selling price.

 

Compared to Q4 2023, the cement producer’s net profit saw a spike of 364.2% from SAR 3.23 million. The surge was buoyed by higher sales on better average selling prices.

 

Hail Cement also reported a decline in general and administrative expenses.

 

Total shareholders’ equity, no minority interest, decreased to SAR 981.13 million as of March 31, 2024, from SAR 1.07 billion a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 87.43 4.7 % 48.51 9.7 % 39.54 5.3 %
Q2 2015 99.68 (1.0 %) 38.01 (30.4 %) 31.02 (36.5 %)
Q3 2015 77.73 (2.6 %) 36.60 13.2 % 30.21 14.2 %
Q4 2015 91.52 (0.3 %) 41.16 (22.1 %) 33.81 (25.2 %)
Q1 2016 89.45 2.3 % 46.41 (4.3 %) 39.32 (0.6 %)
Q2 2016 75.09 (24.7 %) 34.50 (9.2 %) 26.50 (14.6 %)
Q3 2016 58.22 (25.1 %) 31.56 (13.8 %) 25.22 (16.5 %)
Q4 2016 49.36 (46.1 %) 22.81 (44.6 %) 14.94 (55.8 %)
Q1 2017 44.44 (50.3 %) 17.04 (63.3 %) 10.33 (73.7 %)
Q2 2017 32.16 (57.2 %) 11.11 (67.8 %) 3.87 (85.4 %)
Q3 2017 36.89 (36.6 %) 9.27 (70.6 %) 3.11 (87.7 %)
Q4 2017 51.05 3.4 % 13.36 (41.4 %) 6.93 (53.6 %)
Q1 2018 48.73 9.7 % 9.55 (43.9 %) 3.91 (62.2 %)
Q2 2018 41.27 28.3 % (10.15) (191.4 %) (15.82) (508.9 %)
Q3 2018 41.00 11.2 % (10.23) (210.4 %) (15.86) (610.5 %)
Q4 2018 64.98 27.3 % 21.96 64.4 % 12.51 80.5 %
Q1 2019 68.57 40.7 % 27.17 184.5 % 21.52 450.9 %
Q2 2019 53.43 29.5 % 6.17 160.8 % 0.34 102.1 %
Q3 2019 62.21 51.7 % 16.30 259.3 % 11.02 169.5 %
Q4 2019 90.19 38.8 % 41.79 90.3 % 36.64 192.9 %
Q1 2020 119.46 74.2 % 55.02 102.5 % 48.19 123.9 %
Q2 2020 66.24 24.0 % 28.47 361.7 % 23.90 7033.7 %
Q3 2020 71.68 15.2 % 30.24 85.5 % 24.19 119.4 %
Q4 2020 78.90 (12.5 %) 33.93 (18.8 %) 29.77 (18.8 %)
Q1 2021 81.89 (31.5 %) 30.91 (43.8 %) 23.84 (50.5 %)
Q2 2021 65.91 (0.5 %) 20.45 (28.2 %) 15.03 (37.1 %)
Q3 2021 56.08 (21.8 %) 12.33 (59.2 %) 6.38 (73.6 %)
Q4 2021 49.42 (37.4 %) (0.42) (101.2 %) (4.05) (113.6 %)
Q1 2022 68.62 (16.2 %) (1.64) (105.3 %) (7.36) (130.9 %)
Q2 2022 96.32 46.1 % 17.96 (12.2 %) 12.34 (17.9 %)
Q3 2022 103.28 84.2 % 16.63 34.9 % 11.14 74.6 %
Q4 2022 97.25 96.8 % 30.53 7352.7 % 26.15 746.5 %
Q1 2023 61.85 (9.9 %) 22.59 1476.0 % 16.06 318.2 %
Q2 2023 59.78 (37.9 %) 7.23 (59.8 %) 3.20 (74.1 %)
Q3 2023 51.53 (50.1 %) 7.35 (55.8 %) 0.83 (92.6 %)
Q4 2023 55.90 (42.5 %) 7.00 (77.1 %) (0.80) (103.1 %)
Q1 2024 73.78 19.3 % 20.11 (11.0 %) 13.08 (18.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 37.50 6.8 % 0.38 - 37.50 0.38
Q2 2015 28.64 (37.7 %) 0.29 - 28.64 0.29
Q3 2015 17.45 (30.5 %) 0.18 - 17.45 0.18
Q4 2015 29.95 (26.7 %) 0.31 - 29.95 0.31
Q1 2016 32.30 (13.9 %) 0.33 - 32.30 0.33
Q2 2016 26.84 (6.3 %) 0.27 - 26.84 0.27
Q3 2016 19.31 10.7 % 0.20 - 19.31 0.20
Q4 2016 21.21 (29.2 %) 0.22 - 21.21 0.22
Q1 2017 8.28 (74.4 %) 0.08 - 8.28 0.08
Q2 2017 2.66 (90.1 %) 0.03 - 2.66 0.03
Q3 2017 0.65 (96.6 %) 0.01 - 0.65 0.01
Q4 2017 3.96 (81.3 %) 0.04 - 3.96 0.04
Q1 2018 4.23 (48.9 %) 0.04 - 4.23 0.04
Q2 2018 (18.00) (776.9 %) (0.18) - (18.00) (0.18)
Q3 2018 (18.31) (2917.4 %) (0.19) - (18.31) (0.19)
Q4 2018 7.05 78.3 % 0.07 - 7.05 0.07
Q1 2019 22.55 433.4 % 0.23 - 22.55 0.23
Q2 2019 (1.92) 89.3 % (0.02) - (1.92) (0.02)
Q3 2019 7.59 141.5 % 0.08 - 7.59 0.08
Q4 2019 30.84 337.2 % 0.32 - 30.84 0.32
Q1 2020 40.22 78.4 % 0.41 - 40.22 0.41
Q2 2020 21.75 1232.1 % 0.22 - 21.75 0.22
Q3 2020 22.83 200.6 % 0.23 - 22.83 0.23
Q4 2020 22.26 (27.8 %) 0.23 (8.40) 30.67 0.31
Q1 2021 25.87 (35.7 %) 0.26 - 25.87 0.26
Q2 2021 15.35 (29.4 %) 0.16 - 15.35 0.16
Q3 2021 5.96 (73.9 %) 0.06 - 5.96 0.06
Q4 2021 (4.77) (121.4 %) (0.05) - (4.77) (0.05)
Q1 2022 (6.89) (126.6 %) (0.07) - (6.89) (0.07)
Q2 2022 (6.83) (144.5 %) (0.07) (10.00) 3.17 0.03
Q3 2022 7.82 31.3 % 0.08 - 7.82 0.08
Q4 2022 22.32 568.4 % 0.23 - 22.32 0.23
Q1 2023 18.51 368.6 % 0.19 - 18.51 0.19
Q2 2023 5.98 187.5 % 0.06 - 5.98 0.06
Q3 2023 (3.11) (139.7 %) (0.03) - (3.11) (0.03)
Q4 2023 3.23 (85.5 %) 0.03 - 3.23 0.03
Q1 2024 15.00 (19.0 %) 0.15 - 15.00 0.15

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 52.34 % 61.76 % 41.55 %
Q2 2015 47.87 % 56.81 % 36.83 %
Q3 2015 49.34 % 58.03 % 34.89 %
Q4 2015 46.10 % 55.67 % 31.86 %
Q1 2016 45.25 % 55.58 % 30.23 %
Q2 2016 47.54 % 58.59 % 31.92 %
Q3 2016 48.88 % 60.93 % 34.49 %
Q4 2016 49.71 % 64.00 % 36.62 %
Q1 2017 46.63 % 63.96 % 33.30 %
Q2 2017 44.80 % 66.65 % 27.94 %
Q3 2017 36.98 % 61.87 % 20.14 %
Q4 2017 30.86 % 56.53 % 9.45 %
Q1 2018 25.64 % 51.43 % 6.81 %
Q2 2018 12.38 % 37.31 % (5.15 %)
Q3 2018 1.39 % 26.68 % (15.45 %)
Q4 2018 5.68 % 27.48 % (12.77 %)
Q1 2019 13.32 % 32.91 % (3.11 %)
Q2 2019 19.77 % 38.41 % 4.11 %
Q3 2019 28.73 % 44.70 % 14.15 %
Q4 2019 33.32 % 49.32 % 21.52 %
Q1 2020 36.66 % 49.64 % 23.59 %
Q2 2020 41.87 % 54.82 % 29.70 %
Q3 2020 44.74 % 57.48 % 33.27 %
Q4 2020 43.91 % 56.96 % 34.34 %
Q1 2021 41.36 % 55.85 % 33.85 %
Q2 2021 38.72 % 52.57 % 31.74 %
Q3 2021 34.52 % 48.96 % 27.53 %
Q4 2021 24.98 % 41.67 % 16.74 %
Q1 2022 12.80 % 30.95 % 4.02 %
Q2 2022 10.44 % 26.38 % (0.94 %)
Q3 2022 10.24 % 24.19 % (0.21 %)
Q4 2022 17.37 % 28.83 % 7.23 %
Q1 2023 24.45 % 35.56 % 14.45 %
Q2 2023 23.89 % 36.38 % 16.96 %
Q3 2023 25.04 % 36.92 % 16.16 %
Q4 2023 19.28 % 31.34 % 10.75 %
Q1 2024 17.30 % 27.94 % 8.76 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 97.90 1.53 1.53 11.21
Q2 2015 97.90 1.35 1.35 10.90
Q3 2015 97.90 1.27 1.27 10.48
Q4 2015 97.90 1.16 1.16 10.79
Q1 2016 97.90 1.11 1.11 10.62
Q2 2016 97.90 1.09 1.09 10.91
Q3 2016 97.90 1.11 1.11 10.61
Q4 2016 97.90 1.02 1.02 10.79
Q1 2017 97.90 0.77 0.77 10.88
Q2 2017 97.90 0.53 0.53 10.45
Q3 2017 97.90 0.33 0.33 10.46
Q4 2017 97.90 0.16 0.16 10.50
Q1 2018 97.90 0.12 0.12 10.54
Q2 2018 97.90 (0.09) (0.09) 10.32
Q3 2018 97.90 (0.29) (0.29) 10.13
Q4 2018 97.90 (0.26) (0.26) 10.22
Q1 2019 97.90 (0.07) (0.07) 10.44
Q2 2019 97.90 0.10 0.10 10.42
Q3 2019 97.90 0.36 0.36 10.50
Q4 2019 97.90 0.60 0.60 10.79
Q1 2020 97.90 0.78 0.78 11.21
Q2 2020 97.90 1.03 1.03 11.44
Q3 2020 97.90 1.18 1.18 11.67
Q4 2020 97.90 1.09 1.18 11.86
Q1 2021 97.90 0.95 1.03 12.15
Q2 2021 97.90 0.88 0.97 11.80
Q3 2021 97.90 0.71 0.80 11.86
Q4 2021 97.90 0.43 0.43 11.28
Q1 2022 97.90 0.10 0.10 11.21
Q2 2022 97.90 (0.13) (0.03) 11.14
Q3 2022 97.90 (0.11) (0.01) 10.78
Q4 2022 97.90 0.17 0.27 10.84
Q1 2023 97.90 0.43 0.53 11.03
Q2 2023 97.90 0.56 0.56 10.84
Q3 2023 97.90 0.45 0.45 10.45
Q4 2023 97.90 0.25 0.25 10.21
Q1 2024 97.90 0.22 0.22 10.02

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 14.75 14.75 2.01
Q2 2015 15.87 15.87 1.96
Q3 2015 13.27 13.27 1.61
Q4 2015 12.38 12.38 1.33
Q1 2016 11.22 11.22 1.17
Q2 2016 11.41 11.41 1.14
Q3 2016 9.38 9.38 0.98
Q4 2016 11.75 11.75 1.11
Q1 2017 14.43 14.43 1.03
Q2 2017 18.38 18.38 0.92
Q3 2017 26.87 26.87 0.86
Q4 2017 62.36 62.36 0.94
Q1 2018 78.97 78.97 0.88
Q2 2018 NEG NEG 0.88
Q3 2018 NEG NEG 0.79
Q4 2018 NEG NEG 0.77
Q1 2019 NEG NEG 0.80
Q2 2019 93.67 93.67 0.86
Q3 2019 26.62 26.62 0.91
Q4 2019 20.22 20.22 1.13
Q1 2020 12.30 12.30 0.86
Q2 2020 11.90 11.90 1.07
Q3 2020 13.36 13.36 1.35
Q4 2020 15.29 14.18 1.41
Q1 2021 18.37 16.85 1.43
Q2 2021 21.53 19.62 1.61
Q3 2021 23.91 21.33 1.43
Q4 2021 30.66 30.66 1.18
Q1 2022 More than 100 More than 100 1.30
Q2 2022 NEG NEG 1.23
Q3 2022 NEG NEG 1.17
Q4 2022 64.48 40.07 1.01
Q1 2023 26.60 21.47 1.05
Q2 2023 22.13 22.13 1.16
Q3 2023 27.00 27.00 1.17
Q4 2023 47.55 47.55 1.19
Q1 2024 52.42 52.42 1.13

Analysts Estimates (Million)

Item Q1 2024 (e) Q1 2024 (a) Change‬
Average 31.10 15.00 (51.8 %)

Estimates vs Actual (Million)

Item Q1 2024 (e) Q1 2024 (a) Change
Sico 31.10 15.00 (51.8) %


Financial Ratios
Current
Market Cap (M Riyal) 1,135.64
Enterprise Value (EV) (M) 1,030.72
Shares Outstanding ((M)) 97.90
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 10.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.16
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 2.0
more

Share Price

Hail Cement Co.
11.60
0.02 0.17 %

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