Riyadh Cement Co. — Interim / Quarterly Report 2024

Nov 6, 2024

Riyadh Cement Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )

3092 · 06/11/2024 15:45:12 · Announcement #83482 · View on Saudi Exchange

Riyadh Cement Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	203,006,160	127,151,941	59.656	163,653,286	24.046
Gross Profit (Loss)	83,911,952	29,831,584	181.285	79,338,271	5.764
Operational Profit (Loss)	74,622,676	21,271,684	250.807	69,227,553	7.793
Net profit (Loss)	94,579,535	18,709,225	405.523	64,424,825	46.806
Total Comprehensive Income	94,579,535	18,709,225	405.523	64,424,825	46.806
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	555,552,181	471,903,649	17.725
Gross Profit (Loss)	240,006,096	181,755,397	32.048
Operational Profit (Loss)	215,415,648	155,019,127	38.96
Net profit (Loss)	229,107,578	145,356,868	57.617
Total Comprehensive Income	229,107,578	145,356,868	57.617
Total Shareholders Equity (after Deducting Minority Equity)	1,698,875,399	1,634,542,608	3.935
Profit (Loss) per Share	1.91	1.21
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The main reason for the increase in sales for the current quarter compared to the same quarter of the previous year is the rise in both the quantity and prices of sales for the current quarter.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The main reason for the increase in the current net profit compared to the same quarter of the previous year is the rise in sales value for the current quarter, as well as the recovery of withholding tax from the Zakat, Tax, and Customs Authority amounting to 25 million riyals, which was reversed in the Zakat expense for the current quarter. This occurred despite the increase in Zakat expense during the third quarter of 2024 compared to the same quarter of the previous year.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The main reason for the increase in sales for the current quarter compared to the previous quarter is the rise in sales volume for the current quarter.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The main reason for the increase in net profit compared to the previous quarter is the rise in sales volume for the current quarter and the recovery of withholding tax from the Zakat, Tax, and Customs Authority amounting to 25 million riyals.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	The main reason for the increase in sales for the current period compared to the same period of the previous year is the rise in selling prices for the current period.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The main reason for the increase in net profit for the current period compared to the same period of the previous year is the rise in sales value, an increase in other revenues, higher financing income, in addition to the recovery of withholding tax from the Zakat, Tax, and Customs Authority amounting to 25 million riyals.
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	N/A
Reclassification of Comparison Items	N/A
Additional Information	Withholding tax amounting to 25 million riyals was recovered during the third quarter of 2024 and has been reflected in the current period's financial statements. Please refer to Note 10 of the financial statement disclosures.

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