Southern Province Cement Reports SAR 4M Net Loss in Three Months 2026
SPCC 3050.SA | 0.00 |
On 2026-05-11 09:12:02 (Saudi Time), Southern Province 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 | 203 | 220 | -7.727 | 234 | -13.247 |
| Gross Profit (Loss) | 23 | 40 | -42.5 | -90 | - |
| Operational Profit (Loss) | 3 | 24 | -87.5 | -110 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -4 | 16 | - | -93 | -95.698 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -4 | 16 | - | -87 | -95.402 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 3,062 | 3,258 | -6.015 |
| Profit (Loss) per Share | -0.03 | 0.12 | |
| All figures are in (Millions) 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 (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 7.73% YoY to SAR 203 million primarily due to decreased local sales volume. The company shifted from a net profit of SAR 16 million to a net loss of SAR 4 million, driven by lower revenues and higher cost per unit sold due to increased production input costs and reduced production line utilization. This was further impacted by higher selling, distribution, general, and administrative expenses, as well as lower financing income, despite a reduction in zakat provision.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 13.25% to SAR 203 million due to decreased local sales volume. Net loss significantly improved by 95.70% from SAR -93 million to SAR -4 million, primarily driven by lower cost of sales resulting from previous quarter's inventory adjustments for work-in-process and raw materials, plus depreciation adjustments for old production lines at Jazan Cement Plant that were replaced by new production line, despite higher financing costs and lower other revenues.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total shareholders equity decreased 6.015% YoY to SAR 3,062 million, while earnings per share turned negative at SAR -0.03 compared to SAR 0.12 in the prior year period. Some comparative figures were reclassified to conform to current presentation, and certain items in the financial statements for the period ended March 31, 2025 have been restated.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95232&anCat=1&cs=3050&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.