Saudi Cement Co. 2023 Annual Results

Saudi Cement Co. (3030) reported full year 2023 revenue of SAR 1.46B, up 71.8% from SAR 851M in 2022. Net profit came in at SAR 381M, down 4.5% year on year. Earnings per share were SAR 2.49. The company generated SAR 533M in operating cash flow. All figures sourced from CMA-mandated XBRL filings on the Saudi Exchange, processed by Sahm Screener.

Earnings Quality

Of every SAR 1.00 in reported net profit, SAR 1.40 arrived as operating cash flow — indicating Exceptional quality earnings with a cash conversion ratio of 1.40.

Key Financial Metrics

Year on Year Comparison

Revenue increased by 71.8% compared to 2022. Net profit decreased by 4.5%. Revenue grew but profit declined — suggesting margin pressure.