Société Libanaise Des Ciments Blancs S.A.L. published its audited financial statements this week conveying a net after-tax profit of LBP 51.76 billion in 2024 (~$0.58 million at the LBP 89,500 exchange rate), compared to LBP 234.60 billion a year earlier. In details, the company’s net sales decreased by 4.67% to LBP 487.31 billion ($5.44 million) while cost of goods sold hiked by 32.53% to LBP 378.57 billion ($4.23 million), resulting in a 51.79% drop in gross profit to LBP 108.74 billion ($1.21 million), noting that the gross profit margin narrowed to 22.31%, from 44.12% a year before. In parallel, the company’s selling, general, and administrative expenses fell by 6.18% in 2024 to LBP 50.57 billion ($0.57 million). Consequently, the company’s net profit margin dropped to 10.62% in 2024 from 45.90% in 2023. On the balance sheet front, Société Libanaise Des Ciments Blancs’ total assets increased by 5.04% in 2024 to LBP 552.11 billion (around $6.17 million), up from LBP 525.64 billion at end of 2023, buoyed mainly by an increase in inventory levels to LBP 295.86 billion ($3.31 million). Similarly, total liabilities rose by 4.04% to LBP 237.39 billion ($2.65 million) as a result of the sharp expansion in accounts payable & other liabilities to LBP 187.55 billion ($2.10 million) and the acute rise in employees’ end of service benefits to LBP 38.69 billion ($0.43 million). The company’s shareholders equity ended the year 2024 up by around 5.80% at LBP 314.73 billion ($3.52 million) as a result of profits carried forward which outweighed the frantic increase in the re-measurement of defined benefit obligations.

The company’s return on assets (ROA) reached 9.37% in 2024 compared to 44.63% in 2023, with its return on equity (ROE) also dropping from 78.86% in 2023 to 16.44% in 2024.