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March 4, 2025
Caribbean Cement Company Ltd (CCC)
Audited financials for the year ended December 31, 2024:
Caribbean Cement Company Ltd (CCC) for the year ended December 31, 2024, reported a 1% increase in Revenues totaling $27.91 billion compared to $27.72 billion in the corresponding period last year. Revenues for the fourth quarter had a 1% decrease to close at $6.42 billion compared to $6.45 billion for the comparable quarter of 2023.
Cost of sales amounted to $16.33 billion (2023: $16.42 billion), this represents a decrease of 1% year over year. Consequently, gross profit increased by 2% to $11.58 billion compared to $11.30 billion for the year ended December 31, 2023. The company booked gross profit of $2.32 billion for the fourth quarter versus $2.80 billion reported for the similar quarter of 2023.
Operating Expenses increased by 6% to close at $3.02 billion (2023: $2.86 billion), while Other income, net for the year ended December 31, 2024, amounted to $438.36 million, a 2252% increase relative to $18.64 million reported in 2023. Consequently, Operating profit for the year ended December 31, 2024, amounted to $7.65 billion, a 3% increase relative to $7.42 billion reported in 2023. Operating profit for the fourth quarter amounted to $1.63 billion (2023: $1.66 billion).
Finance Costs totalled $126.64 million a 34% decrease from the corresponding period last year. (2023: $193.12 million).
Profit before taxation for the year ended December 31, 2024, amounted to $7.77 billion, a 7% increase relative to $7.26 billion reported in 2023. Profit before taxation for the fourth quarter amounted to $1.54 billion (2023: $1.63 billion).
Taxation for the year ended December 31, 2024, had a 8% increase to reach $1.82 billion (2023: $1.68 billion). As such, Net Profit for the year amounted to $5.95 billion, a 7% increase from the $5.58 billion reported in 2023. For the fourth quarter, Net Profit was $1.04 billion (2023: $1.19 billion).
Consequently, Earnings Per Share for the year amounted to $6.99 (2023: EPS: $6.55), while Earnings Per Share for the quarter totaled $1.22 (2023: EPS: $1.40). The twelve-month trailing EPS was $6.99 and the number of shares used in these calculations was 851,136,591.
Notably, CCC’s stock price closed the trading period on March 03, 2025, at a price of $84.05 with a corresponding P/E ratio of 12.02x.
Balance Sheet Highlights
The company’s assets totalled $40.86 billion (2023: $33.20 billion). The growth in total assets was driven by a $4.47 billion uptick in ‘Cash and cash equivalents’ and a $4.28 billion increase in ‘PPE’.
Shareholder’s equity was $28.32 billion (2023: $24.05 billion), representing a book value per share of $33.27 (2023: $28.26).
Disclaimer:
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