Riyadh Cement Co. — Earnings Release 2022

Mar 21, 2023

Riyadh Cement Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

3092 · 21/03/2023 08:21:57 · Announcement #72506 · View on Saudi Exchange

Riyadh Cement Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	598,006,116	671,065,997	-10.89
Gross Profit (Loss)	231,545,635	266,550,230	-13.13
Operational Profit (Loss)	201,935,542	233,303,333	-13.45
Net Profit (Loss) after Zakat and Tax	189,839,971	213,730,732	-11.18
Total Comprehensive Income	193,105,477	211,766,104	-8.81
Total Share Holders Equity (after Deducting Minority Equity)	1,675,185,740	1,662,080,263	0.79
Profit (Loss) per Share	1.58	1.78
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The decrease in net profit is mainly due to decrease in sales, despite the decrease in the general & administrative expenses and zakat expense.
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	Certain figures of comparatives have been reclassified to conform to the presentation of the current year's financial statements.
Additional Information	1- The data of the statement of financial position as of December 31, 2021, statement of profit or loss and other comprehensive income for the year ended December 31, 2021 (Comparison period), have been restated in line with the requirements of International Accounting Standard No. (8), and you can refer to clarification No. 26 of the notes to the financial statements for the year ended December 31, 2022 (Audited)

2- Basic earnings per share is calculated based on the profit distributable to shareholders for ordinary shares and using the weighted average number of ordinary shares outstanding on the date of the financial statements.

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