Al Jouf Cement Company announces its consolidated annual financial results ending 31/12/2024.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 256,504,047 | 269,284,152 | -4.75 | ||
| Gross Profit (Loss) | 15,835,067 | 69,799,732 | -77.31 | ||
| Operational Profit (Loss) | -15,196,170 | 46,118,427 | - | ||
| Net profit (Loss) | -27,731,380 | 37,678,330 | - | ||
| Total Comprehensive Income | -27,990,789 | 37,541,804 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,116,484,061 | 1,144,474,850 | -2.44 | ||
| Profit (Loss) per Share | -0.26 | 0.35 | |||
| 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 year compared to the last year | Revenues reached SAR 256.5 million for the current year 2024, compared to SAR 269.3 million for the previous year. The 4.8% decrease in revenues is due to a decrease in the average selling price and export sales volume, despite an increase in domestic sales volume. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the net loss this year, compared to a net profit in the previous year, is due to a decrease in sales value, higher operating costs, and higher financing expenses, despite an increase in local sales volume and other revenues. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | EMPHASIS OF MATTER
We draw attention to (Note 32) to the consolidated financial statements, which states the details of the restatement of comparative figures related to revenues, revenue discounts, and transportation costs. The restatement arose from the errors identified by management in prior year's financial statements where they decided to correct these errors by restating the comparative figures accordingly. In addition, during the year ended December 31, 2024, management had reassessed and confirmed all of the significant receivable balances due from customers, which resulted in the recognition of additional customers’ discounts. These additional accrued discounts have been accounted for under trade and other payables, as disclosed in (Note 20). Our opinion in this regard has not been modified. |
| Reclassification of Comparison Items | Certain comparative figures for the prior year have been reclassified to conform to the presentation used in the current year ended December 31, 2024. |
| Additional Information | - |
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