Tabuk Cement Reports SAR 4.10M Net Profit in Three Months 2026
TCC 3090.SA | 0.00 |
On 2026-05-11 08:21:53 (Saudi Time), Tabuk 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 | 62.55 | 67.68 | -7.579 | 77.09 | -18.861 |
| Gross Profit (Loss) | 9.96 | 20.5 | -51.414 | 7.97 | 24.968 |
| Operational Profit (Loss) | 5.48 | 15.27 | -64.112 | 3.46 | 58.381 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 4.1 | 13.04 | -68.558 | 1.87 | 119.251 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 3.75 | 12.29 | -69.487 | -3.19 | - |
| 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) | 1,174.17 | 1,192.03 | -1.498 |
| Profit (Loss) per Share | 0.05 | 0.14 | |
| 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 7.579% YoY to SAR 62.55 million primarily due to decreased average sales prices despite increased quantities sold. Net profit dropped 68.558% YoY to SAR 4.1 million, driven by the revenue decline and increased cost of sales that significantly compressed gross profit margins from SAR 20.5 million to SAR 9.96 million.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 18.861% to SAR 62.55 million due to decreased sales quantities despite higher average sales prices. Net profit surged 119.251% to SAR 4.1 million, primarily driven by reduced cost of sales that more than offset the revenue decline.
Other Items
Auditors issued a qualified opinion citing material overstatement of property, plant and equipment by at least SAR 38 million as at December 31, 2025, with the cement manufacturing facility carrying amount of SAR 782 million as at March 31, 2026. The qualified conclusion states "except for the effects of the matter described in the Basis of Qualified Conclusion paragraph above, nothing has come to our attention that causes us to believe that the accompanying 31 March 2026 condensed interim financial statements of Tabuk Cement Company are not prepared, in all material respects, in accordance with IAS 34." Auditors identified that certain assumptions and conditions underlying the impairment assessment may have changed since December 31, 2025, and believe property, plant and equipment and retained earnings are materially overstated as at March 31, 2026. Total shareholders equity decreased 1.498% to SAR 1,174.17 million, while earnings per share declined from SAR 0.14 to SAR 0.05.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95221&anCat=1&cs=3090&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.