QASSIM CEMENT COMPANY ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING ON 31 MARCH 2025 (THREE MONTHS)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 302,683,904 | 196,417,013 | 54.102 | 302,982,764 | -0.098 |
| Gross Profit (Loss) | 93,543,630 | 82,782,307 | 12.999 | 94,300,275 | -0.802 |
| Operational Profit (Loss) | 94,130,307 | 66,841,466 | 40.826 | 74,070,172 | 27.082 |
| Net profit (Loss) | 94,081,516 | 74,221,592 | 26.757 | 81,801,002 | 15.012 |
| Total Comprehensive Income | 94,081,516 | 74,221,592 | 26.757 | 83,642,107 | 12.481 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 2,770,277,090 | 1,595,022,775 | 73.682 |
| Profit (Loss) per Share | 0.86 | 0.83 | |
| 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 | - | - | |
| 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 increase in sales during the current quarter compared to the same quarter of the previous year is due to the increase in the sales volume. Along with consolidating the subsidiary business after the acquisition transaction of Hail Cement Company starting from 10/06/2024. Despite the decrease in average selling price. |
| 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 increase in net profit during the current quarter compared to the same quarter of the previous year is mainly due to the increase in sales volume, along with consolidating the subsidiary business after the acquisition transaction of Hail Cement Company starting from 10/06/2024. In addition to the decrease in the S&M expense and the decrease in the G&A expenses. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The decrease in sales during the current quarter compared to the previous quarter is due to a minor decrease in sales volume. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The increase in net profit during the current quarter compared with the previous quarter is mainly due to the decrease the S&M expenses and the decrease in G&A expenses, in addition to the increase in the other income. Despite the decrease in the financial investment returns. |
| 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) | - |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to tally with the current presentation |
| Additional Information |
On 10th June 2024 the company acquired 100% of the issued capital of Hail Cement Company, and this was reflected in the company's consolidated financial statements. The acquisition was accounted in accordance with IFRS 3 (Business Combinations). Accordingly, the company accounted provisionally for the acquisition using the carrying values (provisional values) of the acquired assets and liabilities on the date of acquisition, until the determination of the fair values and complete the PPA within twelve months from the date of acquisition in accordance with regulatory requirements and as permitted by IFRS 3, the Company shall adjust the provisional values recognized during the measurement period to fair values Retroactively.
It worth to mention that the group presented consolidated interim financial statements for the period ended March 31st 2025, after acquiring the subsidiary on June 10, 2024. Therefore, the comparative figures for the period ended March 31st 2024, represent Qassim Cement Company standalone and are not consolidated and not comparable. |
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Qassim Cement Company is a Saudi Joint Stock company, established in accordance with the Royal Decree No. M/62 on 15 Shaban, 1396H. (August 11, 1976) and registered in Buraydah City under commercial registration number 1131001224 on 28 Shaban, 1398 (August 2, 1978). On 4 of Dhu al-Hijjah 1445 AH (June 10, 2024), Qassim Cement Company announced the completion of the acquisition of Hail Cement Company (HCC) by increasing its capital through the issuance of new shares to Hail Cement Company shareholders.
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Qassim Cement Co.| Building No: 4266 | Unit Number: 1 | Buraidah: 52271 - 6735 | Kingdom of Saudi Arabia
Phone : (+966) 16 316-5555
Fax : (+966) 16 381-6041
Email : qcc@qcc.com.sa
