Al Jouf Cement Reports SAR 21.60M Net Loss in Q1 2026
JOUF CEMENT 3091.SA | 0.00 |
On 2026-05-12 08:25:11 (Saudi Time), Al Jouf Cement Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 40,193,974 | 68,498,213 | -41.321 | 52,041,801 | -22.765 |
| Gross Profit (Loss) | 631,501 | 5,940,727 | -89.369 | -96,361,951 | - |
| Operational Profit (Loss) | -6,686,235 | -6,273,235 | 6.583 | -120,196,378 | -94.437 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -21,603,738 | -15,235,089 | 41.802 | -142,829,434 | -84.874 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -21,603,738 | -15,235,089 | 41.802 | -142,657,242 | -84.856 |
| 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) | 888,487,838 | 1,101,248,972 | -19.319 |
| Profit (Loss) per Share | -0.2 | -0.14 | |
| 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 | -152,449,012 | -0.14 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 41.32% YoY to SAR 40.19 million primarily due to decreased domestic sales volumes, despite improved average selling prices and increased export volumes. Net loss widened 41.80% to SAR 21.60 million, driven by the significant revenue decline that offset operational improvements.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 22.77% to SAR 40.19 million due to decreased local sales volumes during Ramadan and Eid al-Fitr holidays, despite improved average selling prices. Net loss improved significantly by 84.87% to SAR 21.60 million from the previous quarter's SAR 142.83 million loss, primarily driven by substantial reductions in operating costs and the absence of the prior quarter's SAR 97.8 million inventory loss recorded in Q4 2025.
Other Items
Auditors issued a qualified opinion regarding a SAR 97.8 million inventory loss recognized during 2025, stating "we were unable to ascertain whether this loss pertains to the current year or prior years" as the external consultant investigation remains ongoing. Accumulated losses reached SAR 152,449,012, representing 0.14% of capital. Total shareholders' equity declined 19.32% year-over-year to SAR 888,487,838. Loss per share was SAR 0.2 compared to SAR 0.14 in the same quarter last year. The company noted that "preliminary indicators for the first quarter of 2026 point to the beginning of a gradual improvement in the company's operational performance as a result of continued efforts to raise operational efficiency and improve cost management, despite the continued challenges related to high fuel costs and levels of competition in the market."
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95289&anCat=1&cs=3091&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.