NORTHERN CEMENT

Northern Region Cement Co.

3004StocksTadawulMaterials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	683.52M	622.52M	689.55M	617.96M	561.91M
Cost of Revenue	473.52M	389.77M	463.28M	393.93M	362.06M
Gross Profit	210.00M	232.75M	226.28M	224.03M	199.85M
SG&A	87.86M	112.01M	99.44M	76.24M	77.90M
Operating Expenses	88.39M	112.96M	99.58M	84.18M	79.33M
Operating Income	121.61M	119.79M	126.69M	139.85M	120.52M
Interest Income	—	—	—	—	19.41K
Interest Expense	-58.39M	-48.89M	-54.48M	-27.78M	-19.18M
Other Income/Expense	11.41M	1.61M	0.70M	0.75M	7.27M
Pretax Income	74.63M	123.11M	113.98M	141.92M	136.11M
Income Tax	18.50M	22.23M	57.58M	29.47M	29.43M
Net Income	56.06M	100.80M	56.26M	112.02M	106.06M
EBITDA	175.15M	170.36M	200.19M	212.31M	196.69M
EBIT	121.61M	119.79M	126.69M	139.85M	120.52M
EPS (Basic)	0.31	0.56	0.31	0.62	0.59
EPS (Diluted)	0.31	0.56	0.31	0.62	0.59
DPS	—	0.25	0.25	0.50	0.50
Margins & Efficiency
Gross Margin %	+30.7%	+37.4%	+32.8%	+36.3%	+35.6%
EBITDA Margin %	+25.6%	+27.4%	+29.0%	+34.4%	+35.0%
Net Margin %	+8.2%	+16.2%	+8.2%	+18.1%	+18.9%
Revenue & Income
Revenue	683.52M	622.52M	689.55M	617.96M	561.91M
Revenue Growth (YoY)	+9.8%	-9.7%	+11.6%	+10.0%	-13.7%
Interest & Investment Income	—	—	—	—	19.41K
Earnings From Equity Investments	—	—	41.45M	29.51M	20.21M
Gain (Loss) on Sale of Assets	—	84.86K	-109.62K	—	-667.12K
Gain (Loss) on Sale of Investments	—	45.45M	—	—	8.41M
Currency Exchange Gain (Loss)	—	5.10M	—	—	—
Expenses & Provisions
Cost of Revenue	473.52M	389.77M	463.28M	393.93M	362.06M
Selling, General & Admin	87.86M	112.01M	99.44M	76.24M	77.90M
Operating Expenses	88.39M	112.96M	99.58M	84.18M	79.33M
Interest Expense	-58.39M	-48.89M	-54.48M	-27.78M	-19.18M
Other Non Operating Income (Expenses)	11.41M	1.61M	0.70M	0.75M	7.27M
D&A For EBITDA	53.54M	50.57M	73.49M	72.46M	76.18M
Profitability & Returns
Gross Profit	210.00M	232.75M	226.28M	224.03M	199.85M
Gross Margin	+30.7%	+37.4%	+32.8%	+36.3%	+35.6%
EBIT	121.61M	119.79M	126.69M	139.85M	120.52M
EBIT Margin	+17.8%	+19.2%	+18.4%	+22.6%	+21.4%
EBITDA	175.15M	170.36M	200.19M	212.31M	196.69M
EBITDA Margin	+25.6%	+27.4%	+29.0%	+34.4%	+35.0%
EBT Excluding Unusual Items	74.63M	77.62M	114.37M	142.34M	128.84M
Pretax Income	74.63M	123.11M	113.98M	141.92M	136.11M
Operating Income	121.61M	119.79M	126.69M	139.85M	120.52M
Operating Margin	+17.8%	+19.2%	+18.4%	+22.6%	+21.4%
Profit Margin	+8.2%	+16.2%	+8.2%	+18.1%	+18.9%
Net Income	56.06M	100.80M	56.26M	112.02M	106.06M
Net Income to Common	56.06M	100.80M	56.26M	112.02M	106.06M
Net Income Growth	-44.4%	+79.2%	-49.8%	+5.6%	-1.5%
Earnings From Continuing Ops.	56.13M	100.88M	56.40M	112.45M	106.68M
Minority Interest in Earnings	-64.00K	-79.48K	-136.29K	-427.85K	-614.48K
Income Tax Expense	18.50M	22.23M	57.58M	29.47M	29.43M
Effective Tax Rate	+24.8%	+18.1%	+50.5%	+20.8%	+21.6%
Per Share & Capital
EPS (Basic)	0.31	0.56	0.31	0.62	0.59
EPS (Diluted)	0.31	0.56	0.31	0.62	0.59
EPS Growth	-44.6%	+79.2%	-49.8%	+5.6%	-1.5%
Dividend Per Share	—	0.25	0.25	0.50	0.50
Shares Change (YoY)	0	—	—	—	—
Shares Outstanding (Basic)	180.85M	180.00M	180.00M	180.00M	180.00M
Shares Outstanding (Diluted)	180.85M	180.00M	180.00M	180.00M	180.00M
Dividend Growth	—	—	-50.0%	—	—
Free Cash Flow	19.69M	-98.57M	14.46M	26.33M	54.50M
Free Cash Flow Margin	+2.9%	-15.8%	+2.1%	+4.3%	+9.7%
Free Cash Flow Per Share	0.11	-0.55	0.08	0.15	0.30
Payout Ratio	+80.3%	+89.3%	+80.0%	+80.3%	+84.9%
Supplemental
Other Unusual Items	—	-37.04K	-278.49K	-417.11K	-465.11K

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	683.52M	622.52M	689.55M	617.96M	561.91M
Cost of Revenue	473.52M	389.77M	463.28M	393.93M	362.06M
Gross Profit	210.00M	232.75M	226.28M	224.03M	199.85M
SG&A	87.86M	112.01M	99.44M	76.24M	77.90M
Operating Expenses	88.39M	112.96M	99.58M	84.18M	79.33M
Operating Income	121.61M	119.79M	126.69M	139.85M	120.52M
Interest Income	—	—	—	—	19.41K
Interest Expense	-58.39M	-48.89M	-54.48M	-27.78M	-19.18M
Other Income/Expense	11.41M	1.61M	0.70M	0.75M	7.27M
Pretax Income	74.63M	123.11M	113.98M	141.92M	136.11M
Income Tax	18.50M	22.23M	57.58M	29.47M	29.43M
Net Income	56.06M	100.80M	56.26M	112.02M	106.06M
EBITDA	175.15M	170.36M	200.19M	212.31M	196.69M
EBIT	121.61M	119.79M	126.69M	139.85M	120.52M
EPS (Basic)	0.31	0.56	0.31	0.62	0.59
EPS (Diluted)	0.31	0.56	0.31	0.62	0.59
DPS	—	0.25	0.25	0.50	0.50
Margins & Efficiency
Gross Margin %	+30.7%	+37.4%	+32.8%	+36.3%	+35.6%
EBITDA Margin %	+25.6%	+27.4%	+29.0%	+34.4%	+35.0%
Net Margin %	+8.2%	+16.2%	+8.2%	+18.1%	+18.9%
Revenue & Income
Revenue	683.52M	622.52M	689.55M	617.96M	561.91M
Revenue Growth (YoY)	+9.8%	-9.7%	+11.6%	+10.0%	-13.7%
Interest & Investment Income	—	—	—	—	19.41K
Earnings From Equity Investments	—	—	41.45M	29.51M	20.21M
Gain (Loss) on Sale of Assets	—	84.86K	-109.62K	—	-667.12K
Gain (Loss) on Sale of Investments	—	45.45M	—	—	8.41M
Currency Exchange Gain (Loss)	—	5.10M	—	—	—
Expenses & Provisions
Cost of Revenue	473.52M	389.77M	463.28M	393.93M	362.06M
Selling, General & Admin	87.86M	112.01M	99.44M	76.24M	77.90M
Operating Expenses	88.39M	112.96M	99.58M	84.18M	79.33M
Interest Expense	-58.39M	-48.89M	-54.48M	-27.78M	-19.18M
Other Non Operating Income (Expenses)	11.41M	1.61M	0.70M	0.75M	7.27M
D&A For EBITDA	53.54M	50.57M	73.49M	72.46M	76.18M
Profitability & Returns
Gross Profit	210.00M	232.75M	226.28M	224.03M	199.85M
Gross Margin	+30.7%	+37.4%	+32.8%	+36.3%	+35.6%
EBIT	121.61M	119.79M	126.69M	139.85M	120.52M
EBIT Margin	+17.8%	+19.2%	+18.4%	+22.6%	+21.4%
EBITDA	175.15M	170.36M	200.19M	212.31M	196.69M
EBITDA Margin	+25.6%	+27.4%	+29.0%	+34.4%	+35.0%
EBT Excluding Unusual Items	74.63M	77.62M	114.37M	142.34M	128.84M
Pretax Income	74.63M	123.11M	113.98M	141.92M	136.11M
Operating Income	121.61M	119.79M	126.69M	139.85M	120.52M
Operating Margin	+17.8%	+19.2%	+18.4%	+22.6%	+21.4%
Profit Margin	+8.2%	+16.2%	+8.2%	+18.1%	+18.9%
Net Income	56.06M	100.80M	56.26M	112.02M	106.06M
Net Income to Common	56.06M	100.80M	56.26M	112.02M	106.06M
Net Income Growth	-44.4%	+79.2%	-49.8%	+5.6%	-1.5%
Earnings From Continuing Ops.	56.13M	100.88M	56.40M	112.45M	106.68M
Minority Interest in Earnings	-64.00K	-79.48K	-136.29K	-427.85K	-614.48K
Income Tax Expense	18.50M	22.23M	57.58M	29.47M	29.43M
Effective Tax Rate	+24.8%	+18.1%	+50.5%	+20.8%	+21.6%
Per Share & Capital
EPS (Basic)	0.31	0.56	0.31	0.62	0.59
EPS (Diluted)	0.31	0.56	0.31	0.62	0.59
EPS Growth	-44.6%	+79.2%	-49.8%	+5.6%	-1.5%
Dividend Per Share	—	0.25	0.25	0.50	0.50
Shares Change (YoY)	0	—	—	—	—
Shares Outstanding (Basic)	180.85M	180.00M	180.00M	180.00M	180.00M
Shares Outstanding (Diluted)	180.85M	180.00M	180.00M	180.00M	180.00M
Dividend Growth	—	—	-50.0%	—	—
Free Cash Flow	19.69M	-98.57M	14.46M	26.33M	54.50M
Free Cash Flow Margin	+2.9%	-15.8%	+2.1%	+4.3%	+9.7%
Free Cash Flow Per Share	0.11	-0.55	0.08	0.15	0.30
Payout Ratio	+80.3%	+89.3%	+80.0%	+80.3%	+84.9%
Supplemental
Other Unusual Items	—	-37.04K	-278.49K	-417.11K	-465.11K