National Cement

National Cement Company PSC

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Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	251.68M	175.74M	187.92M	137.00M	147.47M
Cost of Revenue	206.66M	173.48M	187.63M	161.75M	176.46M
Gross Profit	45.02M	2.26M	0.29M	-24.75M	-29.00M
SG&A	27.56M	28.11M	58.60M	33.64M	30.75M
Operating Expenses	12.35M	16.91M	49.71M	23.54M	-15.52M
Operating Income	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
Interest Income	159.91M	145.86M	118.94M	27.84M	57.42M
Interest Expense	-0.06M	-0.50M	-5.48M	-4.13M	-3.27M
Other Income/Expense	15.90M	—	—	—	—
Pretax Income	208.42M	134.58M	62.23M	-28.72M	48.97M
Income Tax	4.66M	-0.28M	—	—	—
Net Income	203.76M	134.86M	62.23M	-28.72M	48.97M
EBITDA	50.98M	3.94M	-31.11M	-30.02M	4.60M
EBIT	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
EPS (Basic)	0.57	0.38	0.17	-0.08	0.14
EPS (Diluted)	0.57	0.38	0.17	-0.08	0.14
DPS	—	0.20	0.15	—	0.10
Margins & Efficiency
Gross Margin %	+17.9%	+1.3%	+0.2%	-18.1%	-19.7%
EBITDA Margin %	+20.3%	+2.2%	-16.6%	-21.9%	+3.1%
Net Margin %	+81.0%	+76.7%	+33.1%	-21.0%	+33.2%
Revenue & Income
Revenue	251.68M	175.74M	187.92M	137.00M	147.47M
Revenue Growth (YoY)	+43.2%	-6.5%	+37.2%	-7.1%	-19.5%
Interest & Investment Income	159.91M	145.86M	118.94M	27.84M	57.42M
Gain (Loss) on Sale of Assets	—	—	—	—	16.00K
Gain (Loss) on Sale of Investments	—	3.87M	-1.81M	-4.14M	8.28M
Expenses & Provisions
Cost of Revenue	206.66M	173.48M	187.63M	161.75M	176.46M
Selling, General & Admin	27.56M	28.11M	58.60M	33.64M	30.75M
Operating Expenses	12.35M	16.91M	49.71M	23.54M	-15.52M
Other Operating Expenses	-15.21M	-11.19M	-8.89M	-10.10M	-11.70M
Interest Expense	-0.06M	-0.50M	-5.48M	-4.13M	-3.27M
Other Non Operating Income (Expenses)	15.90M	—	—	—	—
D&A For EBITDA	18.31M	18.60M	18.30M	18.27M	18.07M
Profitability & Returns
Gross Profit	45.02M	2.26M	0.29M	-24.75M	-29.00M
Gross Margin	+17.9%	+1.3%	+0.2%	-18.1%	-19.7%
EBIT	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
EBIT Margin	+13.0%	-8.3%	-26.3%	-35.2%	-9.1%
EBITDA	50.98M	3.94M	-31.11M	-30.02M	4.60M
EBITDA Margin	+20.3%	+2.2%	-16.6%	-21.9%	+3.1%
EBT Excluding Unusual Items	208.42M	130.71M	64.04M	-24.58M	40.68M
Pretax Income	208.42M	134.58M	62.23M	-28.72M	48.97M
Operating Income	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
Operating Margin	+13.0%	-8.3%	-26.3%	-35.2%	-9.1%
Profit Margin	+81.0%	+76.7%	+33.1%	-21.0%	+33.2%
Net Income	203.76M	134.86M	62.23M	-28.72M	48.97M
Net Income to Common	203.76M	134.86M	62.23M	-28.72M	48.97M
Net Income Growth	+51.1%	+116.7%	—	—	—
Income Tax Expense	4.66M	-0.28M	—	—	—
Effective Tax Rate	+2.2%	—	—	—	—
Per Share & Capital
EPS (Basic)	0.57	0.38	0.17	-0.08	0.14
EPS (Diluted)	0.57	0.38	0.17	-0.08	0.14
EPS Growth	+51.6%	+116.7%	—	—	—
Dividend Per Share	—	0.20	0.15	—	0.10
Shares Change (YoY)	-0	—	—	—	—
Shares Outstanding (Basic)	357.48M	358.80M	358.80M	358.80M	358.80M
Shares Outstanding (Diluted)	357.48M	358.80M	358.80M	358.80M	358.80M
Dividend Growth	—	+33.3%	—	—	—
Free Cash Flow	36.14M	0.77M	-22.02M	-92.03M	-14.23M
Free Cash Flow Margin	+14.4%	+0.4%	-11.7%	-67.2%	-9.7%
Free Cash Flow Per Share	0.10	0.00	-0.06	-0.26	-0.04
Payout Ratio	+35.2%	+39.9%	—	—	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	251.68M	175.74M	187.92M	137.00M	147.47M
Cost of Revenue	206.66M	173.48M	187.63M	161.75M	176.46M
Gross Profit	45.02M	2.26M	0.29M	-24.75M	-29.00M
SG&A	27.56M	28.11M	58.60M	33.64M	30.75M
Operating Expenses	12.35M	16.91M	49.71M	23.54M	-15.52M
Operating Income	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
Interest Income	159.91M	145.86M	118.94M	27.84M	57.42M
Interest Expense	-0.06M	-0.50M	-5.48M	-4.13M	-3.27M
Other Income/Expense	15.90M	—	—	—	—
Pretax Income	208.42M	134.58M	62.23M	-28.72M	48.97M
Income Tax	4.66M	-0.28M	—	—	—
Net Income	203.76M	134.86M	62.23M	-28.72M	48.97M
EBITDA	50.98M	3.94M	-31.11M	-30.02M	4.60M
EBIT	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
EPS (Basic)	0.57	0.38	0.17	-0.08	0.14
EPS (Diluted)	0.57	0.38	0.17	-0.08	0.14
DPS	—	0.20	0.15	—	0.10
Margins & Efficiency
Gross Margin %	+17.9%	+1.3%	+0.2%	-18.1%	-19.7%
EBITDA Margin %	+20.3%	+2.2%	-16.6%	-21.9%	+3.1%
Net Margin %	+81.0%	+76.7%	+33.1%	-21.0%	+33.2%
Revenue & Income
Revenue	251.68M	175.74M	187.92M	137.00M	147.47M
Revenue Growth (YoY)	+43.2%	-6.5%	+37.2%	-7.1%	-19.5%
Interest & Investment Income	159.91M	145.86M	118.94M	27.84M	57.42M
Gain (Loss) on Sale of Assets	—	—	—	—	16.00K
Gain (Loss) on Sale of Investments	—	3.87M	-1.81M	-4.14M	8.28M
Expenses & Provisions
Cost of Revenue	206.66M	173.48M	187.63M	161.75M	176.46M
Selling, General & Admin	27.56M	28.11M	58.60M	33.64M	30.75M
Operating Expenses	12.35M	16.91M	49.71M	23.54M	-15.52M
Other Operating Expenses	-15.21M	-11.19M	-8.89M	-10.10M	-11.70M
Interest Expense	-0.06M	-0.50M	-5.48M	-4.13M	-3.27M
Other Non Operating Income (Expenses)	15.90M	—	—	—	—
D&A For EBITDA	18.31M	18.60M	18.30M	18.27M	18.07M
Profitability & Returns
Gross Profit	45.02M	2.26M	0.29M	-24.75M	-29.00M
Gross Margin	+17.9%	+1.3%	+0.2%	-18.1%	-19.7%
EBIT	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
EBIT Margin	+13.0%	-8.3%	-26.3%	-35.2%	-9.1%
EBITDA	50.98M	3.94M	-31.11M	-30.02M	4.60M
EBITDA Margin	+20.3%	+2.2%	-16.6%	-21.9%	+3.1%
EBT Excluding Unusual Items	208.42M	130.71M	64.04M	-24.58M	40.68M
Pretax Income	208.42M	134.58M	62.23M	-28.72M	48.97M
Operating Income	32.67M	-14.66M	-49.41M	-48.29M	-13.48M
Operating Margin	+13.0%	-8.3%	-26.3%	-35.2%	-9.1%
Profit Margin	+81.0%	+76.7%	+33.1%	-21.0%	+33.2%
Net Income	203.76M	134.86M	62.23M	-28.72M	48.97M
Net Income to Common	203.76M	134.86M	62.23M	-28.72M	48.97M
Net Income Growth	+51.1%	+116.7%	—	—	—
Income Tax Expense	4.66M	-0.28M	—	—	—
Effective Tax Rate	+2.2%	—	—	—	—
Per Share & Capital
EPS (Basic)	0.57	0.38	0.17	-0.08	0.14
EPS (Diluted)	0.57	0.38	0.17	-0.08	0.14
EPS Growth	+51.6%	+116.7%	—	—	—
Dividend Per Share	—	0.20	0.15	—	0.10
Shares Change (YoY)	-0	—	—	—	—
Shares Outstanding (Basic)	357.48M	358.80M	358.80M	358.80M	358.80M
Shares Outstanding (Diluted)	357.48M	358.80M	358.80M	358.80M	358.80M
Dividend Growth	—	+33.3%	—	—	—
Free Cash Flow	36.14M	0.77M	-22.02M	-92.03M	-14.23M
Free Cash Flow Margin	+14.4%	+0.4%	-11.7%	-67.2%	-9.7%
Free Cash Flow Per Share	0.10	0.00	-0.06	-0.26	-0.04
Payout Ratio	+35.2%	+39.9%	—	—	—