Upcoming Dividend • Jun 09
Upcoming dividend of ر.س0.25 per share Eligible shareholders must have bought the stock before 16 June 2026. Payment date: 05 July 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Saudi dividend payers (6.1%). Lower than average of industry peers (6.0%). Declared Dividend • May 23
Dividend reduced to ر.س0.25 Dividend of ر.س0.25 is 64% lower than last year. Ex-date: 16th June 2026 Payment date: 5th July 2026 Dividend yield will be 2.5%, which is lower than the industry average of 4.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • May 22
Southern Province Cement Company, Annual General Meeting, Jun 15, 2026 Southern Province Cement Company, Annual General Meeting, Jun 15, 2026, at 18:30 Arab Standard Time. Location: abha Saudi Arabia Reported Earnings • May 21
First quarter 2026 earnings released: ر.س0.03 loss per share (vs ر.س0.19 profit in 1Q 2025) First quarter 2026 results: ر.س0.03 loss per share (down from ر.س0.19 profit in 1Q 2025). Revenue: ر.س202.7m (down 7.7% from 1Q 2025). Net loss: ر.س4.07m (down 115% from profit in 1Q 2025). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 24
Price target decreased by 12% to ر.س22.00 Down from ر.س24.98, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ر.س21.08. Stock is down 34% over the past year. The company is forecast to post earnings per share of ر.س0.48 next year compared to a net loss per share of ر.س0.35 last year. Major Estimate Revision • Nov 27
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ر.س951.0m to ر.س851.0m. EPS estimate fell from ر.س0.64 to ر.س0.37 per share. Net income forecast to shrink 55% next year vs 18% growth forecast for Basic Materials industry in Saudi Arabia . Consensus price target down from ر.س29.43 to ر.س27.23. Share price was steady at ر.س23.12 over the past week. Price Target Changed • Nov 26
Price target decreased by 8.2% to ر.س27.23 Down from ر.س29.65, the current price target is an average from 4 analysts. New target price is 17% above last closing price of ر.س23.23. Stock is down 29% over the past year. The company is forecast to post earnings per share of ر.س0.37 for next year compared to ر.س1.74 last year. Reported Earnings • Nov 21
Third quarter 2025 earnings released: EPS: ر.س0.02 (vs ر.س0.38 in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.02 (down from ر.س0.38 in 3Q 2024). Revenue: ر.س219.2m (down 5.7% from 3Q 2024). Net income: ر.س2.16m (down 96% from 3Q 2024). Profit margin: 1.0% (down from 23% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Price Target Changed • Nov 12
Price target decreased by 7.4% to ر.س29.43 Down from ر.س31.78, the current price target is an average from 4 analysts. New target price is 23% above last closing price of ر.س24.00. Stock is down 29% over the past year. The company is forecast to post earnings per share of ر.س0.61 for next year compared to ر.س1.74 last year. New Risk • Aug 21
New major risk - Revenue and earnings growth Earnings have declined by 27% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 27% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. New Risk • Aug 19
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: ر.س0.11 (vs ر.س0.21 in 2Q 2024) Second quarter 2025 results: EPS: ر.س0.11 (down from ر.س0.21 in 2Q 2024). Revenue: ر.س195.0m (down 9.0% from 2Q 2024). Net income: ر.س15.3m (down 49% from 2Q 2024). Profit margin: 7.8% (down from 14% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Price Target Changed • Aug 08
Price target decreased by 8.2% to ر.س31.78 Down from ر.س34.60, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ر.س26.60. Stock is down 24% over the past year. The company is forecast to post earnings per share of ر.س1.27 for next year compared to ر.س1.74 last year. Announcement • Jun 20
Southern Province Cement Company Approves dividend for the Second Half of the Fiscal Year Ended on December 31, 2024, Payable on July 1, 2025 Southern Province Cement Company at its Extraordinary General Assembly Meeting held on June 18, 2025, approved to distribute dividends amounting to SAR 0.70 per share to the shareholders for the second half of the fiscal year ending on December 31, 2024, with a percentage of (7%) of the capital and a total amount of SAR 98 million, Provided that the entitlement to dividends is for shareholders holding the shares by the end of the trading day of the assembly date, and who are registered in the Company's shareholders registry held with Securities Depository Center Company (Edaa) at the end of the second trading day following the entitlement date. and provided that the distribution of dividends begins on July 1, 2025. Upcoming Dividend • Jun 12
Upcoming dividend of ر.س0.70 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 01 July 2025. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Saudi dividend payers (5.2%). Lower than average of industry peers (5.1%). Reported Earnings • May 22
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: ر.س0.19 (down from ر.س0.44 in 1Q 2024). Revenue: ر.س219.6m (down 12% from 1Q 2024). Net income: ر.س26.8m (down 57% from 1Q 2024). Profit margin: 12% (down from 25% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 20% per year. Announcement • May 13
Southern Province Cement Company, Annual General Meeting, Jun 18, 2025 Southern Province Cement Company, Annual General Meeting, Jun 18, 2025, at 18:30 Arab Standard Time. Location: abha Saudi Arabia Reported Earnings • Apr 02
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ر.س1.74 (up from ر.س1.40 in FY 2023). Revenue: ر.س935.0m (down 13% from FY 2023). Net income: ر.س243.7m (up 25% from FY 2023). Profit margin: 26% (up from 18% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 32%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 22% per year. Announcement • Sep 23
Southern Province Cement Company(SASE:3050) dropped from FTSE All-World Index (USD) Southern Province Cement Company(SASE:3050) dropped from FTSE All-World Index (USD) Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ر.س0.21 (vs ر.س0.14 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.21 (up from ر.س0.14 in 2Q 2023). Revenue: ر.س214.3m (down 5.2% from 2Q 2023). Net income: ر.س30.0m (up 58% from 2Q 2023). Profit margin: 14% (up from 8.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • Jun 25
Southern Province Cement Company (SASE:3050) signed a non-binding memorandum of understanding to acquire Yanbu Cement Company (SASE:3060). Southern Province Cement Company (SASE:3050) signed a non-binding memorandum of understanding to acquire Yanbu Cement Company (SASE:3060) on June 23, 2024. The MoU will terminate upon the signing of the merger agreement by both companies, or within 12 months as of the signing date on June 23, 2024.The transaction is subject to approval by regulatory board / committee and securing approval from both companies' general assemblies. Reported Earnings • May 24
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: ر.س0.44 (up from ر.س0.35 in 1Q 2023). Revenue: ر.س250.7m (down 16% from 1Q 2023). Net income: ر.س62.1m (up 27% from 1Q 2023). Profit margin: 25% (up from 16% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 20
Consensus EPS estimates increase by 188% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ر.س0.53 to ر.س1.53. Revenue forecast unchanged at ر.س1.09b. Net income forecast to shrink 25% next year vs 18% decline forecast for Basic Materials industry in Saudi Arabia. Consensus price target down from ر.س43.02 to ر.س41.42. Share price was steady at ر.س40.80 over the past week. Price Target Changed • Apr 18
Price target decreased by 7.9% to ر.س41.42 Down from ر.س44.96, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ر.س40.80. Stock is down 22% over the past year. The company is forecast to post earnings per share of ر.س1.53 for next year compared to ر.س1.40 last year. Major Estimate Revision • Apr 16
Consensus EPS estimates fall by 67% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ر.س1.59 to ر.س0.53. Revenue forecast unchanged from ر.س1.12b at last update. Net income forecast to shrink 62% next year vs 18% decline forecast for Basic Materials industry in Saudi Arabia. Consensus price target of ر.س43.02 unchanged from last update. Share price was steady at ر.س40.70 over the past week. New Risk • Apr 15
New major risk - Revenue and earnings growth Earnings have declined by 7.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.8% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (226% cash payout ratio). Reported Earnings • Mar 26
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ر.س1.40 (down from ر.س2.15 in FY 2022). Revenue: ر.س1.07b (down 12% from FY 2022). Net income: ر.س195.4m (down 35% from FY 2022). Profit margin: 18% (down from 25% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Jan 20
Southern Province Cement Company Announces Board Changes Southern Province Cement Company announced about the Board of Directors- decision to appoint the Chairman of the Board of Directors and Vice Chairman of the Board of Directors, form the committees, appoint the Secretary of the Board, and appoint the company-s representatives to the Capital Market Authority, the Saudi Stock Exchange (Tadawul) and the Securities Depository Center Company (Edaa) as follows: First: Election of the Chairman of the Board of Directors, his deputy, and the Secretary of the Board as follows: - Appointment of Mr. Saad bin Abdulaziz bin Abdulwahab AlKroud (Chairman of the Board of Directors). Appointment of Mr. Mansour Abdulaziz Mansour AlSaghayer (Deputy Chairman of the Board of Directors). Appointment of Eng. Saud bin Safar Al Burgan (Secretary of the Board of Directors). Second: The Council approved the formation of the following committees: - Formation of the audit committee from the following members: Mr. Khalid Ibrahim S. Alrabiah (Chairman of the Committee). Eng. Thamer Mohammed bin Muqhem Al Muhid (committee member). Eng. Yahiya Mohammed Al Ameen Al Shangiti (Committee Member). Eng. Fahad Eid Ali AlHelal (committee member). Mr. Adeeb Mohammed Aba Numi (external member). Formation of the Executive Committee from the following members: Mr. Saad bin Abdulaziz bin Abdulwahab AlKroud (Chairman of the Committee). Mr. Mansour Abdulaziz Mansour AlSaghayer (committee member). Mr. Mohammed Naser Mohammed Al Naabit (Committee Member). Eng Ahmed Saeed Al-Gamdi (committee member). Mr. Abdulatif Ali Abdulatif AlSeif (Committee Member). Formation of the Investment and Strategy Committee of the following members: Mr. Mansour Abdulaziz Mansour AlSaghayer (Chairman of the Committee). Eng Ahmed Saeed Al-Gamdi (committee member). Eng. Yahiya Mohammed Al Ameen Al Shangiti (Committee Member). Eng. Fahad Eid Ali AlHelal (committee member). Formation of the Remuneration and Nominations Committee of the following members: Mr. Abdulatif Ali Abdulatif AlSeif (Chairman of the Committee). Eng. Thamer Mohammed bin Muqhem Al Muhid (committee member). Mr. Mohammed Naser Mohammed Al Naabit (Committee Member). Eng Ahmed Saeed Al-Gamdi (committee member). Mr. Khalid Ibrahim S. Alrabiah (Committee Member). Announcement • Jan 19
Southern Province Cement Company Announces the Formation of Audit Committee Members Southern Province Cement Company announced the formation of Audit Committee members for the board turn that begins on 01/01/2024 and ends on 31/12/2026. Mr. Khalid Ibrahim S. Alrabiah (Chairman of the Committee). Holds a Bachelor's degree in Accounting from the University of Toledo, Ohio USA. Member of Board of Directors in a number of listed and unlisted joint stock companies. CEO- Methanol Chemical Company -Chemanol-- Chairman, Khalid Alrabiah office Financial Advisory. Eng. Thamer Mohammed bin Muqhem Al Muhid as member of Committee. Holds a Bachelor's degree in Civil Engineering and a Master-s in Business Administration. Member of Board of Directors in a number of listed and unlisted joint stock companies. He is currently the CEO and Managing Director of the Saudi Chemical Holding Company. Eng. Yahiya Mohammed Al Ameen Al shangiti as member of Committee. Holds a Bachelor's degree in Mining Engineering and a Master-s degree in Industrial and Environmental Minerals Management. More than 31 years of experience in the field of mining CEO Almasane Alkobra Mining Company (AMAK). Eng. Fahad Eid Ali AlHelal as member of Committee. Holds a Bachelor's degree in Chemical Engineering and a Master's in Business Administration. Held several leadership positions in Saudi Aramco and the King Abdullah Center for Petroleum Studies and Research. Mr. Adeeb Mohammed Aba Numi (external member). Holds a Bachelor's degree in Accounting and a Master's degree in Professional Accounting. He worked at (Saudi Fund for Development - Deputy Dean of Shaqra College - Capital Market Authority). He is currently the Director of Audit and Advisory Services Department - Aba Numi Office. Major Estimate Revision • Dec 26
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ر.س1.18b to ر.س1.09b. EPS estimate also fell from ر.س1.63 per share to ر.س1.28 per share. Net income forecast to grow 45% next year vs 8.2% growth forecast for Basic Materials industry in Saudi Arabia. Consensus price target down from ر.س52.08 to ر.س50.28. Share price was steady at ر.س42.75 over the past week. Reported Earnings • Nov 15
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: ر.س0.38 (down from ر.س0.63 in 3Q 2022). Revenue: ر.س286.5m (down 11% from 3Q 2022). Net income: ر.س53.3m (down 40% from 3Q 2022). Profit margin: 19% (down from 27% in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 46%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 29
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ر.س1.26b to ر.س1.08b. EPS estimate fell from ر.س1.93 to ر.س1.19 per share. Net income forecast to grow 15% next year vs 16% growth forecast for Basic Materials industry in Saudi Arabia. Consensus price target down from ر.س55.43 to ر.س53.30. Share price was steady at ر.س46.60 over the past week. New Risk • Aug 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 19% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (115% cash payout ratio). Profit margins are more than 30% lower than last year (19% net profit margin). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ر.س0.14 (vs ر.س0.43 in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.14 (down from ر.س0.43 in 2Q 2022). Revenue: ر.س226.0m (down 3.4% from 2Q 2022). Net income: ر.س19.0m (down 69% from 2Q 2022). Profit margin: 8.4% (down from 26% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jun 06
Consensus revenue estimates increase by 11%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ر.س1.15b to ر.س1.28b. EPS estimate fell from ر.س1.91 to ر.س1.88. Net income forecast to grow 14% next year vs 37% growth forecast for Basic Materials industry in Saudi Arabia. Consensus price target up from ر.س53.88 to ر.س55.32. Share price was steady at ر.س52.10 over the past week. Upcoming Dividend • May 24
Upcoming dividend of ر.س0.50 per share at 1.9% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 11 June 2023. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Saudi dividend payers (4.3%). Lower than average of industry peers (3.9%). Major Estimate Revision • Apr 10
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ر.س1.45b to ر.س1.25b. EPS estimate fell from ر.س3.73 to ر.س1.90 per share. Net income forecast to shrink 12% next year vs 24% growth forecast for Basic Materials industry in Saudi Arabia . Consensus price target down from ر.س56.73 to ر.س52.50. Share price rose 5.1% to ر.س53.20 over the past week. Price Target Changed • Apr 06
Price target decreased by 7.5% to ر.س52.50 Down from ر.س56.73, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ر.س51.30. Stock is down 26% over the past year. The company is forecast to post earnings per share of ر.س2.88 for next year compared to ر.س3.22 last year. Major Estimate Revision • Jan 06
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ر.س1.34b to ر.س1.31b. EPS estimate also fell from ر.س3.78 per share to ر.س3.13 per share. Net income forecast to grow 40% next year vs 51% growth forecast for Basic Materials industry in Saudi Arabia. Consensus price target broadly unchanged at ر.س60.70. Share price rose 6.3% to ر.س54.20 over the past week. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Non-Executive Chairman of the Board Hamad Bin Al-Bazai was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: ر.س0.63 (vs ر.س0.60 in 3Q 2021) Third quarter 2022 results: EPS: ر.س0.63 (up from ر.س0.60 in 3Q 2021). Revenue: ر.س323.3m (up 14% from 3Q 2021). Net income: ر.س88.6m (up 6.2% from 3Q 2021). Profit margin: 27% (down from 29% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Sep 09
Southern Province Cement Co. Announces the Distribution of Cash Dividend for First Half of the Financial Year 2022 The Board of Directors of Southern province Cement Company decided to distribute cash dividends to company's shareholders for the first half of the financial year 2022. The total amount distributed is SAR 105,000,000. Amount per share SAR 0.75. Price Target Changed • Jul 05
Price target decreased to ر.س64.15 Down from ر.س69.50, the current price target is an average from 4 analysts. New target price is 15% above last closing price of ر.س55.80. Stock is down 36% over the past year. The company is forecast to post earnings per share of ر.س2.16 for next year compared to ر.س3.22 last year. Reported Earnings • May 20
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ر.س0.62 (down from ر.س1.21 in 1Q 2021). Revenue: ر.س330.0m (down 25% from 1Q 2021). Net income: ر.س87.0m (down 49% from 1Q 2021). Profit margin: 26% (down from 39% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 14%, compared to a 7.3% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Non-Executive Chairman of the Board Hamad Bin Al-Bazai was the last director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 14
Southern Province Cement Company Approves Dividend for the Year Ended December 31, 2021 Southern Province Cement Company announced that at its AGM held on April 12, 2022, the shareholders approved the distribute dividends amounting to SAR 1.25 per share to the shareholders for the second half of the fiscal year ended on December 31, 2021, with a percentage of (1.25%) of the capital and a total amount of SAR 175 million. Upcoming Dividend • Apr 06
Upcoming dividend of ر.س1.25 per share Eligible shareholders must have bought the stock before 13 April 2022. Payment date: 24 April 2022. Payout ratio and cash payout ratio are on the higher end at 78% and 95% respectively. Trailing yield: 3.6%. Lower than top quartile of Saudi dividend payers (4.1%). Lower than average of industry peers (4.5%). Reported Earnings • Mar 11
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ر.س3.22 (down from ر.س4.35 in FY 2020). Revenue: ر.س1.34b (down 19% from FY 2020). Net income: ر.س450.2m (down 26% from FY 2020). Profit margin: 34% (down from 37% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 5.9%, compared to a 3.8% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 11
Price target decreased to ر.س74.48 Down from ر.س81.46, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ر.س71.00. Stock is down 2.7% over the past year. The company posted earnings per share of ر.س4.35 last year. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS ر.س0.60 (vs ر.س1.07 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ر.س284.2m (down 33% from 3Q 2020). Net income: ر.س83.4m (down 44% from 3Q 2020). Profit margin: 29% (down from 35% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS ر.س0.68 (vs ر.س0.96 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ر.س287.3m (down 15% from 2Q 2020). Net income: ر.س95.2m (down 29% from 2Q 2020). Profit margin: 33% (down from 40% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 04
Upcoming dividend of ر.س1.25 per share Eligible shareholders must have bought the stock before 11 August 2021. Payment date: 22 August 2021. Trailing yield: 5.8%. Within top quartile of Saudi dividend payers (4.1%). Higher than average of industry peers (5.0%). Reported Earnings • May 12
First quarter 2021 earnings released: EPS ر.س1.25 (vs ر.س1.31 in 1Q 2020) The company reported a poor first quarter result with weaker earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ر.س439.3m (down 3.9% from 1Q 2020). Net income: ر.س174.8m (down 4.7% from 1Q 2020). Profit margin: 40% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 28% per year. Upcoming Dividend • Apr 05
Upcoming dividend of ر.س2.50 per share Eligible shareholders must have bought the stock before 12 April 2021. Payment date: 25 April 2021. Trailing yield: 5.7%. Within top quartile of Saudi dividend payers (4.5%). Higher than average of industry peers (5.0%). Analyst Estimate Surprise Post Earnings • Mar 14
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 7.5%, compared to a 6.5% growth forecast for the Basic Materials industry in Saudi Arabia. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS ر.س4.31 (vs ر.س3.27 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.س1.65b (up 27% from FY 2019). Net income: ر.س603.2m (up 32% from FY 2019). Profit margin: 37% (up from 35% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 11
Price target raised to ر.س82.74 Up from ر.س76.36, the current price target is an average from 5 analysts. The new target price is 6.1% below the current share price of ر.س88.10. As of last close, the stock is up 77% over the past year. Is New 90 Day High Low • Jan 12
New 90-day high: ر.س91.00 The company is up 24% from its price of ر.س73.10 on 14 October 2020. The Saudi market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ر.س59.17 per share. Announcement • Jan 05
Southern Province Cement Company Announces Board Appointments Southern Province Cement Company announces the Board of Director's decision to appoint the Chairman and Vice Chairman of the Board of Directors, form the committees, appoint the Company’s representatives to the Capital Market Authority & Tadawul, and the Board Secretary, as follows: Firstly: Electing the Chairman, Vice Chairman, and Secretary of the Board of Directors as follows:- Appointing Dr. Hamad Bin Suliman Al-Bazai as Chairman of the Board of Directors. Appointing Mr. Mohammed Bin Nasser Al-Nabit as vice-chairman of the board of directors. Appointment Eng. Saud Bin Safar Al-Bargan as a Secretary of the Board of Directors. Secondly: The Board approved the formation of the following committees:-Forming the Executive Committee from the following Members: Dr. Hamad Bin Suliman Al-Bazai as a Chairman of the committee. Dr. Abdullah Bin Nasser Abu Thenain as a member of the committee. Mr. Mohammed Bin Nasser Al-Nabit as a member of the committee. Eng. Thamer Bin Mohammed Al-Mohaid as a member of the committee. Eng. Abdullah Bin Abdulaziz Al-Qaed as a member of the committee. Forming the investment committee from the following Members: Mr. Mansoor Bin Abdulaziz Al-Sagheir as a Chairman of the committee. Eng. Ahmed Bin Ali Al-Luhaidan as a member of the committee. Mr. Majed Bin Khaled Al-Asaaf as a member of the committee. Eng. Abdullah Bin Abdulaziz Al-Qaed as a member of the committee. Mr. Jasir Bin Abdullah Al-Jasir as a member of the committee. Forming the Remuneration and Nominations Committee from the following Members: Eng. Thamer Bin Mohammed Al-Mohaid as a Chairman of the committee. Dr. Hamad Bin Suliman Al-Bazai as a member of the committee. Mr. Mohammed Bin Nasser Al-Nabit as a member of the committee. Mr. Majed Bin Khaled Al-Asaaf as a member of the committee. Mr. Jasir Bin Abdullah Al-Jasir as a member of the committee. Is New 90 Day High Low • Dec 25
New 90-day high: ر.س83.20 The company is up 27% from its price of ر.س65.70 on 24 September 2020. The Saudi market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ر.س67.21 per share. Is New 90 Day High Low • Dec 08
New 90-day high: ر.س80.20 The company is up 22% from its price of ر.س65.90 on 09 September 2020. The Saudi market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ر.س58.26 per share. Announcement • Nov 23
Southern Province Cement Company, Annual General Meeting, Dec 24, 2020 Southern Province Cement Company, Annual General Meeting, Dec 24, 2020, at 18:30 Arab Standard Time. 