Al Jouf Cement net profit declines 74% to SAR 5.6 mln in Q1 2022

Al Jouf Cement net profit declines 74% to SAR 5.6 mln in Q1 2022

24/05/2022 Argaam Exclusive

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Al Jouf Cement Co. reported a net profit after Zakat and tax of SAR 5.6 million in Q1 2022, a slump of 74% year-on-year (YoY), from SAR 21 million in a year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 67.89 48.81 (28.1 %)
Gross Income 30.25 13.92 (54.0 %)
Operating Income 24.37 7.89 (67.6 %)
Net Income 18.00 3.55 (80.3 %)
Average Shares 108.70 108.70 -
EPS (Riyals) 0.17 0.03 (80.3 %)

The decline was triggered by lower sales volumes and value.

 

Sequentially, the cement producer turned to profit in Q1 2022, versus a net loss of SAR 182.2 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, dropped by 26.06% YoY to SAR 1.096 billion as of March 31, 2022, from SAR 1.482 billion in a year-earlier period.

 

 

Accumulated losses stood at SAR 337.562 million, or 23.6% of capital, by the end of the three-month period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 100.37 (1.3 %) 36.11 (14.8 %) 28.82 (19.9 %)
Q2 2013 83.21 (10.3 %) 28.00 (29.8 %) 17.05 (42.5 %)
Q3 2013 50.11 (29.8 %) 17.90 (42.0 %) 10.50 (55.2 %)
Q4 2013 59.99 (42.0 %) 15.02 (64.3 %) 6.18 (82.0 %)
Q1 2014 69.35 (30.9 %) 25.93 (28.2 %) 18.16 (37.0 %)
Q2 2014 72.50 (12.9 %) 26.26 (6.2 %) 19.47 14.2 %
Q3 2014 54.19 8.2 % 19.69 10.0 % 12.49 18.9 %
Q4 2014 73.19 22.0 % 30.79 105.0 % 21.39 246.1 %
Q1 2015 87.41 26.0 % 36.83 42.0 % 28.30 55.8 %
Q2 2015 93.20 28.5 % 38.41 46.3 % 30.34 55.8 %
Q3 2015 70.35 29.8 % 30.78 56.3 % 22.29 78.4 %
Q4 2015 85.34 16.6 % 16.00 (48.0 %) 7.87 (63.2 %)
Q1 2016 90.80 3.9 % 35.54 (3.5 %) 27.53 (2.7 %)
Q2 2016 90.84 (2.5 %) 31.14 (18.9 %) 23.20 (23.5 %)
Q3 2016 63.91 (9.2 %) 24.49 (20.4 %) 18.32 (17.8 %)
Q4 2016 74.35 (12.9 %) 17.06 6.6 % 9.65 22.7 %
Q1 2017 80.27 (11.6 %) 25.79 (27.4 %) 19.63 (28.7 %)
Q2 2017 62.36 (31.4 %) 20.00 (35.8 %) 13.73 (40.8 %)
Q3 2017 53.14 (16.8 %) 11.23 (54.1 %) 5.20 (71.6 %)
Q4 2017 70.13 (5.7 %) 22.45 31.6 % 16.12 67.0 %
Q1 2018 49.74 (38.0 %) 11.10 (57.0 %) 4.62 (76.4 %)
Q2 2018 27.20 (56.4 %) (5.10) (125.5 %) (12.02) (187.5 %)
Q3 2018 25.84 (51.4 %) (9.13) (181.3 %) (16.06) (409.0 %)
Q4 2018 34.89 (50.2 %) (4.40) (119.6 %) (11.77) (173.0 %)
Q1 2019 56.85 14.3 % 6.82 (38.5 %) 1.09 (76.5 %)
Q2 2019 46.20 69.8 % 6.73 231.8 % 1.18 109.8 %
Q3 2019 26.98 4.4 % 7.96 187.2 % 2.54 115.8 %
Q4 2019 39.73 13.9 % 10.21 332.0 % 3.55 130.2 %
Q1 2020 58.81 3.5 % 23.63 246.3 % 17.49 1509.3 %
Q2 2020 56.49 22.3 % 15.75 134.3 % 9.23 682.3 %
Q3 2020 68.94 155.5 % 18.41 131.4 % 12.69 400.4 %
Q4 2020 67.77 70.6 % 15.48 51.7 % 8.61 142.3 %
Q1 2021 67.89 15.4 % 30.25 28.0 % 24.37 39.3 %
Q2 2021 53.74 (4.9 %) 19.25 22.2 % 13.12 42.1 %
Q3 2021 54.89 (20.4 %) 14.80 (19.6 %) 8.91 (29.8 %)
Q4 2021 50.01 (26.2 %) (43.31) (379.7 %) (108.55) (1360.3 %)
Q1 2022 48.81 (28.1 %) 13.92 (54.0 %) 7.89 (67.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 24.99 (25.4 %) 0.23 - 24.99 0.23
Q2 2013 13.81 (47.3 %) 0.13 - 13.81 0.13
Q3 2013 7.34 (66.5 %) 0.07 - 7.34 0.07
Q4 2013 7.97 (68.7 %) 0.07 - 7.97 0.07
Q1 2014 15.01 (39.9 %) 0.14 - 15.01 0.14
Q2 2014 16.08 16.4 % 0.15 - 16.08 0.15
Q3 2014 8.60 17.1 % 0.08 - 8.60 0.08
Q4 2014 20.87 162.0 % 0.19 - 20.87 0.19
Q1 2015 25.76 71.6 % 0.24 - 25.76 0.24
Q2 2015 26.81 66.7 % 0.25 - 26.81 0.25
Q3 2015 18.63 116.6 % 0.17 - 18.63 0.17
Q4 2015 5.14 (75.3 %) 0.05 - 5.14 0.05
Q1 2016 24.72 (4.0 %) 0.23 - 24.72 0.23
Q2 2016 22.74 (15.2 %) 0.21 - 22.74 0.21
Q3 2016 14.90 (20.0 %) 0.14 - 14.90 0.14
Q4 2016 9.70 88.6 % 0.09 - 9.70 0.09
Q1 2017 16.29 (34.1 %) 0.15 - 16.29 0.15
Q2 2017 10.52 (53.7 %) 0.10 - 10.52 0.10
Q3 2017 5.84 (60.8 %) 0.05 - 5.84 0.05
Q4 2017 8.46 (12.8 %) 0.08 (5.00) 13.46 0.12
Q1 2018 4.11 (74.8 %) 0.04 - 4.11 0.04
Q2 2018 (13.70) (230.2 %) (0.13) - (13.70) (0.13)
Q3 2018 (18.87) (423.0 %) (0.17) - (18.87) (0.17)
Q4 2018 (11.05) (230.7 %) (0.10) - (11.05) (0.10)
Q1 2019 1.49 (63.6 %) 0.01 - 1.49 0.01
Q2 2019 0.11 100.8 % 0.00 - 0.11 0.00
Q3 2019 1.11 105.9 % 0.01 - 1.11 0.01
Q4 2019 2.54 123.0 % 0.02 - 2.54 0.02
Q1 2020 15.21 918.3 % 0.14 - 15.21 0.14
Q2 2020 7.25 6256.1 % 0.07 - 7.25 0.07
Q3 2020 8.22 643.4 % 0.08 (1.80) 10.02 0.09
Q4 2020 (129.22) (5183.5 %) (1.19) (110.20) (19.03) (0.18)
Q1 2021 18.00 18.3 % 0.17 - 18.00 0.17
Q2 2021 7.69 6.1 % 0.07 - 7.69 0.07
Q3 2021 4.14 (49.7 %) 0.04 - 4.14 0.04
Q4 2021 (122.47) 5.2 % (1.13) (6.59) (115.88) (1.07)
Q1 2022 3.55 (80.3 %) 0.03 - 3.55 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 40.47 % 46.21 % 26.81 %
Q2 2013 38.23 % 43.94 % 24.06 %
Q3 2013 36.80 % 43.02 % 21.24 %
Q4 2013 33.04 % 40.07 % 18.42 %
Q1 2014 33.07 % 40.88 % 16.80 %
Q2 2014 33.78 % 43.78 % 18.41 %
Q3 2014 33.94 % 43.75 % 18.61 %
Q4 2014 38.13 % 47.25 % 22.49 %
Q1 2015 39.53 % 47.83 % 24.82 %
Q2 2015 40.82 % 48.60 % 26.63 %
Q3 2015 42.21 % 49.75 % 28.40 %
Q4 2015 36.28 % 44.10 % 22.70 %
Q1 2016 35.54 % 43.76 % 22.17 %
Q2 2016 33.64 % 41.90 % 21.12 %
Q3 2016 32.39 % 41.46 % 20.40 %
Q4 2016 33.83 % 43.50 % 22.53 %
Q1 2017 31.83 % 42.41 % 20.57 %
Q2 2017 31.09 % 43.52 % 18.31 %
Q3 2017 27.42 % 40.12 % 15.68 %
Q4 2017 29.89 % 43.47 % 17.34 %
Q1 2018 27.52 % 42.60 % 14.42 %
Q2 2018 19.82 % 36.73 % 4.85 %
Q3 2018 11.17 % 30.40 % (8.67 %)
Q4 2018 (5.47 %) 3.03 % (28.70 %)
Q1 2019 (8.16 %) (2.66 %) (29.10 %)
Q2 2019 0.01 % 2.96 % (17.29 %)
Q3 2019 10.37 % 4.44 % (5.06 %)
Q4 2019 18.68 % 20.08 % 3.10 %
Q1 2020 28.26 % 28.40 % 11.05 %
Q2 2020 31.62 % 30.81 % 14.34 %
Q3 2020 30.36 % 34.31 % 15.64 %
Q4 2020 29.08 % 31.14 % 5.34 %
Q1 2021 30.60 % 32.74 % 6.22 %
Q2 2021 32.28 % 33.70 % 6.46 %
Q3 2021 32.66 % 33.35 % 4.42 %
Q4 2021 9.26 % (13.92 %) (37.99 %)
Q1 2022 2.24 % (23.19 %) (48.45 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 108.70 0.91 0.91 13.02
Q2 2013 108.70 0.79 0.79 12.55
Q3 2013 108.70 0.66 0.66 12.62
Q4 2013 108.70 0.50 0.50 12.69
Q1 2014 108.70 0.41 0.41 12.83
Q2 2014 108.70 0.43 0.43 13.00
Q3 2014 108.70 0.44 0.44 13.08
Q4 2014 108.70 0.56 0.56 13.27
Q1 2015 108.70 0.66 0.66 13.51
Q2 2015 108.70 0.75 0.75 13.76
Q3 2015 108.70 0.85 0.85 13.93
Q4 2015 108.70 0.70 0.70 13.97
Q1 2016 108.70 0.69 0.69 14.20
Q2 2016 108.70 0.66 0.66 14.41
Q3 2016 108.70 0.62 0.62 14.55
Q4 2016 108.70 0.66 0.66 14.65
Q1 2017 108.70 0.59 0.59 14.79
Q2 2017 108.70 0.47 0.47 14.89
Q3 2017 108.70 0.39 0.39 14.93
Q4 2017 108.70 0.38 0.42 15.01
Q1 2018 108.70 0.27 0.31 15.04
Q2 2018 108.70 0.04 0.09 14.91
Q3 2018 108.70 (0.18) (0.14) 14.73
Q4 2018 108.70 (0.36) (0.36) 14.10
Q1 2019 108.70 (0.39) (0.39) 14.12
Q2 2019 108.70 (0.26) (0.26) 14.12
Q3 2019 108.70 (0.08) (0.08) 14.13
Q4 2019 108.70 0.05 0.05 14.15
Q1 2020 108.70 0.17 0.17 14.29
Q2 2020 108.70 0.24 0.24 14.35
Q3 2020 108.70 0.31 0.32 14.41
Q4 2020 108.70 (0.91) 0.12 11.43
Q1 2021 108.70 (0.88) 0.15 13.64
Q2 2021 108.70 (0.88) 0.15 13.43
Q3 2021 108.70 (0.91) 0.10 13.48
Q4 2021 108.70 (0.85) (0.79) 10.14
Q1 2022 108.70 (0.99) (0.92) 10.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 21.56 21.56 1.50
Q2 2013 25.43 25.43 1.61
Q3 2013 34.51 34.51 1.80
Q4 2013 42.31 42.31 1.66
Q1 2014 52.76 52.76 1.67
Q2 2014 54.83 54.83 1.80
Q3 2014 65.66 65.66 2.20
Q4 2014 30.17 30.17 1.27
Q1 2015 27.79 27.79 1.35
Q2 2015 25.52 25.52 1.40
Q3 2015 16.97 16.97 1.03
Q4 2015 18.05 18.05 0.91
Q1 2016 15.52 15.52 0.76
Q2 2016 16.33 16.33 0.74
Q3 2016 13.46 13.46 0.57
Q4 2016 16.24 16.24 0.74
Q1 2017 17.38 17.38 0.69
Q2 2017 20.15 20.15 0.64
Q3 2017 24.19 24.19 0.63
Q4 2017 35.05 31.25 0.88
Q1 2018 50.24 42.84 0.89
Q2 2018 More than 100 More than 100 0.83
Q3 2018 NEG NEG 0.79
Q4 2018 NEG NEG 0.72
Q1 2019 NEG NEG 0.74
Q2 2019 NEG NEG 0.74
Q3 2019 NEG NEG 0.80
Q4 2019 More than 100 More than 100 0.89
Q1 2020 60.62 60.62 0.74
Q2 2020 48.12 48.12 0.81
Q3 2020 47.63 45.18 1.01
Q4 2020 NEG More than 100 1.28
Q1 2021 NEG More than 100 1.16
Q2 2021 NEG More than 100 1.41
Q3 2021 NEG More than 100 1.22
Q4 2021 NEG NEG 1.41
Q1 2022 NEG NEG 1.44

Business Segments (Million)

Compared With The
Period Cement Clinker Transportation Revenue


Financial Ratios
Current
Market Cap (M Riyal) 1,110.91
Enterprise Value (EV) (M) 1,734.07
Shares Outstanding ((M)) 108.70
EPS ( Riyal) (TTM) 0.39
Book Value (BV) ( Riyal) 11.51
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) 26.02
Price/book 0.89
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 3.5
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Share Price

Al Jouf Cement Co.
10.22
(0.02) (0.20 %)

Al Jouf Cement Co. (JOUF CEMENT)

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