Yanbu Cement : Consolidated Financial Statement 2022 3rd Quarter(English)

YANBU CEMENT COMPANY

(A SAUDI JOINT STOCK COMPANY)

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE-MONTH AND NINE-MONTH

PERIODS ENDED 30 SEP 2022 AND

INDEPENDENT AUDITOR'S REVIEW REPORT

Yanbu Cement Company (A Saudi Joint Stock Company)

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

For the three-month and nine-month periods ended 30 SEP 2022

Content	Page No.
Independent auditor's review report	1
Interim condensed consolidated statement of profit or loss and other comprehensive income	2
Interim condensed consolidated statement of financial position	3
Interim condensed consolidated statement of changes in shareholders' equity	4
Interim condensed consolidated statement of cash flows	5
Notes to interim condensed consolidated financial statements	6 - 13

Yanbu Cement Company (A Saudi Joint Stock Company)

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPRESHENSIVE INCOME

For the three-month and nine-month periods ended 30 September 2022

			For the	For the nine -
		For the three-	three- month	month	For the nine -
		month period	period	period	month period
		ended 30	ended 30	ended 30	ended 30
		September	September	September	September
		2022	2021	2022	2021
		SR	SR	SR	SR
	Note	Unaudited	Unaudited	Unaudited	Unaudited
Revenue	4	262,096,136	207,784,488	741,899,800	742,869,914
Cost of revenue		(172,849,386)	(157,224,486)	(534,567,652)	(557,943,811)
		───────	───────	───────	───────
GROSS PROFIT		89,246,750	50,560,002	207,332,148	184,926,103
Selling and distribution expenses		(4,057,837)	(2,399,766)	(11,163,745)	(8,845,334)
General and administrative expenses		(9,996,461)	(10,686,239)	(29,949,439)	(26,955,877)
		───────	───────	───────	───────
PROFIT FROM OPERATIONS		75,192,452	37,473,997	166,218,964	149,124,892
Gain on derivative instruments at fair value through profit or loss	16	1,229,306	243,566	4,698,931	1,010,602
Other income		696,427	2,849,115	7,139,121	12,103,266
Other expense	9	-	-	(4,500,000)	-
Finance income		535,192	106,641	665,325	195,075
Finance costs		(2,008,853)	(953,893)	(5,902,614)	(2,962,449)
		───────	───────	───────	───────
PROFIT BEFORE ZAKAT		75,644,524	39,719,426	168,319,727	159,471,386
Zakat	6	(6,373,103)	(3,315,000)	(12,075,970)	(7,840,000)
		───────	───────	───────	───────
PROFIT FOR THE PERIOD		69,271,421	36,404,426	156,243,757	151,631,386
OTHER COMPREHENSIVE INCOME:
Items not to be reclassified to profit or loss in subsequent periods:
Re-measurement on employee benefits' liabilities		(1,456,907)	(5,392,760)	(1,456,907)	(6,333,905)
		───────	───────	───────	───────
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD		67,814,514	31,011,666	154,786,850	145,297,481
		═══════	═══════	═══════	═══════
Profit for the period:
Attributable to:
Owners of the parent		67,814,514	35,480,812	154,786,850	149,688,510
Non-controlling interest	1	-	923,614	-	1,942,876
		───────	───────	───────	───────
		67,814,514	36,404,426	154,786,850	151,631,386
		═══════	═══════	═══════	═══════
EARNINGS PER SHARE
Basic and diluted earnings per share attributable to owners of the	13
parent	0.43	0.23	0.98	0.95
		═══════	═══════	═══════	═══════

The attached notes 1 to 18 form an integral part of these unaudited interim condensed consolidated financial statements.

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Yanbu Cement Company (A Saudi Joint Stock Company)

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 30 September 2022

ASSETS

Property, plant and equipment

Intangible assets

Other non-current assets

TOTAL NON-CURRENT ASSETS

CURRENT ASSETS

Inventories

Trade receivables

Prepayments, advances and other receivables Financial derivatives

Cash and bank balances

TOTAL CURRENT ASSETS

TOTAL ASSETS

EQUITY AND LIABILITIES

EQUITY

Share capital

Statutory reserve

Retained earnings

Equity attributable to the owners of the parent Non-controlling interest

TOTAL EQUITY

NON-CURRENT LIABILITIES Term loans

Provision for employee benefits'

Lease liability

TOTAL NON-CURRENT LIABILITIES

CURRENT LIABILITIES

Trade payables

Financial derivatives Current portion of term loans Short term borrowings Dividends payable

Accrued expenses and other current liabilities Zakat payable

TOTAL CURRENT LIABILITIES

TOTAL LIABILITIES

TOTAL EQUITY AND LIABILITIES

	30 September	31 December
	2022	2021
	Unaudited	Audited
Note	SR	SR
	─────────	─────────
7	2,428,027,949	2,529,430,730
	1,977,214	2,500,788
	37,222,472	54,181,309
	─────────	─────────
	2,467,227,635	2,586,112,827
	─────────	─────────
9	567,114,472	541,471,148
8	162,725,158	166,320,074
	44,775,688	33,303,164
16	4,635,331	-
	200,840,292	60,605,196
	─────────	─────────
	980,090,941	801,699,582
	─────────	─────────
	3,447,318,576	3,387,812,409
	═════════	═════════
1	1,575,000,000	1,575,000,000
11	787,500,000	787,500,000
	468,996,060	432,334,210
	─────────	─────────
	2,831,496,060	2,794,834,210
1/3	-	32,331,437
	─────────	─────────
	2,831,496,060	2,827,165,647
	─────────	─────────
10	96,500,000	80,000,000
	90,149,325	83,743,089
	4,725,538	5,778,856
	─────────	─────────
	191,374,863	169,521,945
	─────────	─────────
	35,844,151	21,617,736
16	-	63,600
10	23,500,000	45,944,444
10	106,441,979	150,735,566
	81,729,166	81,689,119
	164,372,662	79,070,934
6	12,559,695	12,003,418
	─────────	─────────
	424,447,653	391,124,817
	─────────	─────────
	615,822,516	560,646,762
	─────────	─────────
	3,447,318,576	3,387,812,409
	═════════	═════════

The attached notes 1 to 18 form an integral part of these unaudited interim condensed consolidated financial statements.

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