Revenue declined 7% YoY in 3Q25 due to lower selling prices
Revenue declined to SAR 247mn in 3Q25 (−7% YoY, −16% QoQ), as a sharp drop in average selling prices outweighed the growth in sales volume.
Higher operating costs weigh on the net profit in 3Q25
Lower average selling prices and higher operating costs, amid fuel price hikes from early 2025, offset the gains from reduced general and administrative (G&A) and zakat expenses, leading to weaker gross and operating profit in 3Q25. As a result, net profit for 3Q25 fell to SAR 41mn, down 37% YoY.
U-Capital view
Qassim Cement posted a sharp decline in net profit for 3Q25, both YoY and QoQ, primarily due to sustained pressure on average selling prices. While robust cement demand supported volume growth, pricing weakness more than offset the benefit, weighing on overall profitability. We maintain our Hold rating on the stock with a target price of SAR 44.7/share.Revenue declined 7% YoY in 3Q25 due to lower selling prices.