Northern Cement Q1 2021 net profit rises 15% to SAR 31.9 mln

Northern Cement Q1 2021 net profit rises 15% to SAR 31.9 mln

03/05/2021 Argaam Exclusive

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Northern Region Cement Co. (NRCC) reported a net profit after Zakat and tax of SAR 31.9 million for Q1 2021, a rise of 15% from SAR 27.6 million in the year-ago period.

 

The quarterly figures were driven by an increase in investment returns from Kubaisa factory in Iraq, along with a decline in finance costs.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 180.17 161.87 (10.2 %)
Gross Income 53.88 53.87 0.0 %
Operating Income 30.96 36.41 17.6 %
Net Income 27.43 31.66 15.4 %
Average Shares 180.00 180.00 -
EPS (Riyals) 0.15 0.18 15.4 %

When compared to Q4 2020, the company’s net profit after Zakat and tax decreased by 29.4% from SAR 45.13 million, hit by the lower sales revenue and lower revenue from Kubaisa factory in Iraq, when compared to the previous quarter.

Shareholders’ equity, excluding minority interest, declined 0.9% to SAR 2.185 billion by the end of Q1 2021, compared to SAR 2.205 billion in the year-ago period.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 152.74 - 50.70 - 43.94 -
Q2 2012 154.83 - 39.20 - 28.97 -
Q3 2012 118.55 - 16.67 - 8.36 -
Q4 2012 112.52 - 30.75 - 20.71 -
Q1 2013 181.77 19.0 % 56.90 12.2 % 45.02 2.5 %
Q2 2013 255.94 65.3 % 97.75 149.3 % 85.28 194.4 %
Q3 2013 167.45 41.3 % 59.46 256.6 % 48.75 483.2 %
Q4 2013 247.28 119.8 % 140.41 356.6 % 63.29 205.7 %
Q1 2014 308.53 69.7 % 116.34 104.5 % 68.15 51.4 %
Q2 2014 229.75 (10.2 %) 88.24 (9.7 %) 67.55 (20.8 %)
Q3 2014 203.39 21.5 % 78.10 31.4 % 59.00 21.0 %
Q4 2014 257.47 4.1 % 110.72 (21.1 %) 68.20 7.8 %
Q1 2015 253.13 (18.0 %) 100.51 (13.6 %) 59.65 (12.5 %)
Q2 2015 324.34 41.2 % 133.49 51.3 % 79.31 17.4 %
Q3 2015 274.92 35.2 % 107.83 38.1 % 63.49 7.6 %
Q4 2015 277.41 7.7 % 89.57 (19.1 %) 52.06 (23.7 %)
Q1 2016 231.14 (8.7 %) 76.07 (24.3 %) 53.78 (9.8 %)
Q2 2016 251.67 (22.4 %) 95.05 (28.8 %) 55.66 (29.8 %)
Q3 2016 141.39 (48.6 %) 52.91 (50.9 %) 36.10 (43.1 %)
Q4 2016 126.62 (54.4 %) 98.31 9.8 % 51.64 (0.8 %)
Q1 2017 124.14 (46.3 %) 45.50 (40.2 %) 31.28 (41.9 %)
Q2 2017 110.31 (56.2 %) 34.54 (63.7 %) 20.66 (62.9 %)
Q3 2017 104.85 (25.8 %) 46.66 (11.8 %) 22.30 (38.2 %)
Q4 2017 123.37 (2.6 %) 46.77 (52.4 %) 26.76 (48.2 %)
Q1 2018 113.14 (8.9 %) 23.92 (47.4 %) 9.07 (71.0 %)
Q2 2018 119.63 8.4 % 30.70 (11.1 %) 5.45 (73.6 %)
Q3 2018 99.09 (5.5 %) 39.45 (15.4 %) 17.72 (20.5 %)
Q4 2018 53.08 (57.0 %) 45.91 (1.8 %) 22.28 (16.7 %)
Q1 2019 124.32 9.9 % 51.12 113.7 % 26.98 197.4 %
Q2 2019 144.25 20.6 % 49.12 60.0 % 27.35 401.7 %
Q3 2019 194.69 96.5 % 61.09 54.8 % 37.85 113.5 %
Q4 2019 210.12 295.9 % 55.00 19.8 % 33.69 51.2 %
Q1 2020 180.17 44.9 % 53.88 5.4 % 30.96 14.7 %
Q2 2020 132.04 (8.5 %) 39.91 (18.8 %) 24.14 (11.7 %)
Q3 2020 172.90 (11.2 %) 48.71 (20.3 %) 30.10 (20.5 %)
Q4 2020 166.38 (20.8 %) 53.63 (2.5 %) 41.64 23.6 %
Q1 2021 161.87 (10.2 %) 53.87 0.0 % 36.41 17.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 39.47 - 0.22 - 39.47 0.22
Q2 2012 28.73 - 0.16 - 28.73 0.16
Q3 2012 7.28 - 0.04 - 7.28 0.04
Q4 2012 17.94 - 0.10 - 17.94 0.10
Q1 2013 42.79 8.4 % 0.24 - 42.79 0.24
Q2 2013 90.20 213.9 % 0.50 - 90.20 0.50
Q3 2013 50.04 587.1 % 0.28 - 50.04 0.28
Q4 2013 51.58 187.6 % 0.29 - 51.58 0.29
Q1 2014 60.76 42.0 % 0.34 - 60.76 0.34
Q2 2014 62.09 (31.2 %) 0.34 - 62.09 0.34
Q3 2014 51.35 2.6 % 0.29 - 51.35 0.29
Q4 2014 25.81 (50.0 %) 0.14 (30.02) 55.83 0.31
Q1 2015 50.63 (16.7 %) 0.28 - 50.63 0.28
Q2 2015 64.03 3.1 % 0.36 (7.00) 71.03 0.39
Q3 2015 52.64 2.5 % 0.29 - 52.64 0.29
Q4 2015 39.62 53.5 % 0.22 (0.68) 40.30 0.22
Q1 2016 42.91 (15.3 %) 0.24 - 42.91 0.24
Q2 2016 48.66 (24.0 %) 0.27 - 48.66 0.27
Q3 2016 30.09 (42.8 %) 0.17 - 30.09 0.17
Q4 2016 30.60 (22.8 %) 0.17 3.40 27.20 0.15
Q1 2017 16.33 (62.0 %) 0.09 - 16.33 0.09
Q2 2017 8.26 (83.0 %) 0.05 - 8.26 0.05
Q3 2017 12.51 (58.4 %) 0.07 - 12.51 0.07
Q4 2017 15.27 (50.1 %) 0.08 - 15.27 0.08
Q1 2018 1.45 (91.1 %) 0.01 5.75 (4.31) (0.02)
Q2 2018 (6.62) (180.1 %) (0.04) - (6.62) (0.04)
Q3 2018 5.00 (60.1 %) 0.03 - 5.00 0.03
Q4 2018 13.03 (14.7 %) 0.07 - 13.03 0.07
Q1 2019 15.42 966.3 % 0.09 - 15.42 0.09
Q2 2019 13.97 311.0 % 0.08 - 13.97 0.08
Q3 2019 26.08 422.1 % 0.14 - 26.08 0.14
Q4 2019 36.80 182.4 % 0.20 16.81 19.99 0.11
Q1 2020 27.43 77.9 % 0.15 8.41 19.03 0.11
Q2 2020 13.93 (0.3 %) 0.08 - 13.93 0.08
Q3 2020 21.52 (17.5 %) 0.12 - 21.52 0.12
Q4 2020 44.62 21.3 % 0.25 - 44.62 0.25
Q1 2021 31.66 15.4 % 0.18 - 31.66 0.18

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 25.50 % 32.44 % 17.34 %
Q1 2013 25.28 % 31.98 % 17.04 %
Q2 2013 30.21 % 36.51 % 23.66 %
Q3 2013 34.12 % 41.22 % 28.00 %
Q4 2013 41.59 % 39.64 % 27.52 %
Q1 2014 42.27 % 37.12 % 25.80 %
Q2 2014 42.44 % 36.65 % 23.55 %
Q3 2014 42.78 % 36.24 % 22.83 %
Q4 2014 39.37 % 37.45 % 23.02 %
Q1 2015 40.01 % 39.04 % 23.30 %
Q2 2015 40.72 % 36.61 % 22.04 %
Q3 2015 40.77 % 35.37 % 20.73 %
Q4 2015 38.18 % 32.38 % 18.99 %
Q1 2016 36.73 % 31.96 % 18.67 %
Q2 2016 35.60 % 31.16 % 17.82 %
Q3 2016 34.78 % 33.94 % 17.96 %
Q4 2016 42.93 % 37.47 % 19.83 %
Q1 2017 45.32 % 39.39 % 18.99 %
Q2 2017 46.02 % 43.10 % 16.30 %
Q3 2017 48.29 % 33.57 % 13.80 %
Q4 2017 37.49 % 36.23 % 11.32 %
Q1 2018 33.63 % 32.16 % 7.03 %
Q2 2018 32.12 % 28.22 % 3.66 %
Q3 2018 30.94 % 30.79 % 2.05 %
Q4 2018 36.36 % 31.27 % 1.84 %
Q1 2019 42.20 % 35.40 % 6.77 %
Q2 2019 44.11 % 38.83 % 11.27 %
Q3 2019 40.14 % 36.52 % 13.27 %
Q4 2019 32.13 % 29.77 % 11.21 %
Q1 2020 30.04 % 27.88 % 10.84 %
Q2 2020 29.27 % 27.80 % 11.02 %
Q3 2020 28.41 % 24.72 % 10.71 %
Q4 2020 30.10 % 27.48 % 15.21 %
Q1 2021 30.97 % 29.15 % 17.65 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 180.00 - - 7.86
Q2 2012 180.00 - - 7.90
Q3 2012 180.00 - - 7.78
Q4 2012 180.00 0.52 0.52 7.88
Q1 2013 180.00 0.54 0.54 12.96
Q2 2013 180.00 0.88 0.88 12.76
Q3 2013 180.00 1.12 1.12 12.04
Q4 2013 180.00 1.30 1.30 12.28
Q1 2014 180.00 1.40 1.40 11.62
Q2 2014 180.00 1.25 1.25 11.96
Q3 2014 180.00 1.25 1.25 11.25
Q4 2014 180.00 1.11 1.28 11.39
Q1 2015 180.00 1.05 1.22 11.67
Q2 2015 180.00 1.07 1.27 11.13
Q3 2015 180.00 1.07 1.28 10.82
Q4 2015 180.00 1.15 1.19 11.04
Q1 2016 180.00 1.11 1.15 10.78
Q2 2016 180.00 1.02 1.03 11.05
Q3 2016 180.00 0.90 0.90 10.77
Q4 2016 180.00 0.85 0.83 11.04
Q1 2017 180.00 0.70 0.68 11.13
Q2 2017 180.00 0.47 0.45 11.18
Q3 2017 180.00 0.38 0.36 11.24
Q4 2017 180.00 0.29 0.29 11.33
Q1 2018 180.00 0.21 0.18 11.34
Q2 2018 180.00 0.13 0.09 11.30
Q3 2018 180.00 0.08 0.05 11.33
Q4 2018 180.00 0.07 0.04 11.41
Q1 2019 180.00 0.15 0.15 11.49
Q2 2019 180.00 0.26 0.26 11.58
Q3 2019 180.00 0.38 0.38 11.72
Q4 2019 180.00 0.51 0.42 11.92
Q1 2020 180.00 0.58 0.44 12.06
Q2 2020 180.00 0.58 0.44 12.13
Q3 2020 180.00 0.55 0.41 12.00
Q4 2020 180.00 0.60 0.55 12.25
Q1 2021 180.00 0.62 0.62 12.14

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 35.07 35.07 1.45
Q2 2013 23.61 23.61 1.63
Q3 2013 20.42 20.42 1.89
Q4 2013 17.76 17.76 1.89
Q1 2014 17.07 17.07 2.06
Q2 2014 20.30 20.30 2.12
Q3 2014 21.54 21.54 2.40
Q4 2014 19.00 16.52 1.85
Q1 2015 21.16 18.27 1.91
Q2 2015 20.72 17.37 1.98
Q3 2015 15.78 13.24 1.56
Q4 2015 13.00 12.53 1.35
Q1 2016 11.15 10.74 1.14
Q2 2016 12.23 12.19 1.13
Q3 2016 11.76 11.71 0.98
Q4 2016 15.17 15.51 1.16
Q1 2017 15.21 15.63 0.95
Q2 2017 20.90 21.76 0.89
Q3 2017 25.26 26.59 0.84
Q4 2017 36.71 36.71 0.94
Q1 2018 50.51 59.67 0.93
Q2 2018 76.05 More than 100 0.85
Q3 2018 More than 100 More than 100 0.76
Q4 2018 More than 100 More than 100 0.73
Q1 2019 59.18 59.18 0.77
Q2 2019 34.20 34.20 0.78
Q3 2019 27.64 27.64 0.90
Q4 2019 23.10 28.24 0.99
Q1 2020 15.67 20.67 0.75
Q2 2020 17.11 22.57 0.82
Q3 2020 21.63 28.96 1.00
Q4 2020 20.36 22.09 0.99
Q1 2021 20.98 20.98 1.07

Business Segments (Million)

Compared With The
Period Clinker Cement White Cement

Current
Market Cap (M Riyal) 1,623.60
Enterprise Value (EV) (M) 2,425.74
Shares Outstanding ((M)) 180.00
EPS ( Riyal) (TTM) 0.41
Book Value (BV) ( Riyal) 12.65
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) 22.06
Price/book 0.71
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 3.3

Share Price

Northern Region Cement Co. (NORTHERN CEMENT)


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