Al Jouf Cement’s Q1 2024 net profit jumps 21% to SAR 12.5M

Al Jouf Cement’s Q1 2024 net profit jumps 21% to SAR 12.5M

16/05/2024 Argaam Exclusive

View other reports

Al Jouf Cement Co. posted a net profit rise of 21% to SAR 12.5 million in Q1 2024, from SAR 10.3 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 70.27 82.05 16.8 %
Gross Income 24.34 28.29 16.2 %
Operating Income 19.51 24.56 25.9 %
Net Income 10.27 12.45 21.2 %
Average Shares 108.70 108.70 -
EPS (Riyals) 0.09 0.11 21.2 %

The earnings rise was driven by a 16.7% year-on-year (YoY) increase in revenue to SAR 82 million on a rise in the company’s sales volumes and average selling prices.

 

On the other hand, the average selling cost increased due to higher fuel prices.

 

On a sequential basis, the cement producer’s net profit fell by 69.2% from SAR 40.4 million in Q4 2023. Al Jouf Cement was hurt by a quarter-on-quarter (QoQ) decline of 2% in topline amid lower sales volumes.

 

The company also reversed some provisions in Q4 2023.

 

Total shareholders’ equity, after minority interest, grew to SAR 1.23 billion as of March 31, 2024, from SAR 1.14 billion in the corresponding period a year ago.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q2 2022 49.48 (7.9 %) 12.87 (33.1 %) 7.23 (44.9 %)
Q3 2022 74.14 35.1 % 19.16 29.5 % 13.84 55.3 %
Q4 2022 79.43 58.8 % 27.48 163.4 % 32.89 130.3 %
Q1 2023 70.27 44.0 % 24.34 74.8 % 19.51 147.3 %
Q2 2023 67.96 37.3 % 20.78 61.4 % 15.66 116.7 %
Q3 2023 79.52 7.2 % 36.99 93.1 % 31.68 128.9 %
Q4 2023 83.74 5.4 % (3.23) (111.8 %) (3.38) (110.3 %)
Q1 2024 82.05 16.8 % 28.29 16.2 % 24.56 25.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q2 2022 (1.73) (122.5 %) (0.02) - (1.73) (0.02)
Q3 2022 5.94 43.5 % 0.05 - 5.94 0.05
Q4 2022 23.14 118.9 % 0.21 5.50 17.64 0.16
Q1 2023 10.27 189.3 % 0.09 1.13 9.14 0.08
Q2 2023 4.08 335.7 % 0.04 (0.09) 4.17 0.04
Q3 2023 29.89 403.4 % 0.27 9.92 19.97 0.18
Q4 2023 12.09 (47.8 %) 0.11 33.03 (20.94) (0.19)
Q1 2024 12.45 21.2 % 0.11 - 12.45 0.11

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q2 2022 (0.85 %) (25.81 %) (54.10 %)
Q3 2022 1.19 % (20.03 %) (48.61 %)
Q4 2022 29.16 % 37.53 % 10.08 %
Q1 2023 30.68 % 39.73 % 11.34 %
Q2 2023 31.45 % 40.83 % 12.64 %
Q3 2023 36.88 % 47.39 % 17.13 %
Q4 2023 26.16 % 36.24 % 4.09 %
Q1 2024 26.44 % 36.68 % 5.00 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2022 108.70 (1.07) (1.01) 10.16
Q3 2022 108.70 (1.06) (0.99) 10.12
Q4 2022 108.70 0.28 0.23 10.45
Q1 2023 108.70 0.35 0.29 10.67
Q2 2023 108.70 0.40 0.34 10.59
Q3 2023 108.70 0.62 0.47 11.12
Q4 2023 108.70 0.52 0.11 11.23
Q1 2024 108.70 0.54 0.14 11.35

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2022 NEG NEG 1.31
Q3 2022 NEG NEG 1.12
Q4 2022 38.91 47.35 1.06
Q1 2023 36.41 44.20 1.18
Q2 2023 32.19 37.90 1.21
Q3 2023 19.04 25.19 1.06
Q4 2023 23.43 More than 100 1.08
Q1 2024 21.14 79.05 1.00

Business Segments (Million)

Compared With The
Period Cement Clinker Transportation Revenue
Q3 2023 62.11 17.21 -
Q4 2023 71.04 12.90 -

Analysts Estimates (Million)

Item Q1 2024 (e) Q1 2024 (a) Change‬
Average 12.00 12.45 3.76 %

Estimates vs Actual (Million)

Item Q1 2024 (e) Q1 2024 (a) Change
Hermes 12.00 12.45 3.8 %

Current
Market Cap (M Riyal) 1,097.87
Enterprise Value (EV) (M) 1,721.02
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) 25.71
Price/book 0.88
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 3.5

Share Price

10.10
0.02 0.20 %

Al Jouf Cement Co. (JOUF CEMENT)


Comments {{getCommentCount()}}

Be the first to comment

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