Cement News tagged under: Arabian Cement Co

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Arabian Cement reports 153% surge in profit to EGP15.9m

15 June 2020, Published under Cement News

Egypt’s Arabian Cement Co has reported a 153 per cent YoY surge in consolidated net profit for the first quarter of 2020, rising to EGP15.91m (US$983,519) from EGP6.3m in the 1Q19. Standalone net profit saw an even larger increase to EGP16.3m from EGP4.23m.

Arabian Cement sees 22% rise in profit

11 May 2020, Published under Cement News

Saudi-based Arabian Cement Co has recorded a 21.6 per cent increase in net profit to SAR45.1m (US$12.03m) for the first quarter of 2020, compared to SAR37.1m in the year-ago period. The company also reported an 8.2 per cent YoY rise in quarterly sales to SAR204.6m from SAR189.1m.

Arabian Cement sees 88% profit fall in 2019

28 February 2020, Published under Cement News

Arabian Cement Co posted a 87.5 per cent drop in net profit to EGP28.93m (US$1.85m) in 2019 when compared with the previous year, according to the company’s consolidated financial statement. In 2018 the company reported a consolidated net profit of EGP231.64m. The Egypt-based cement producer’s sales declined to EGP3.1bn, compared to EGP3.27bn in 2018. As a stand-alone business net profits fell to EGP30.09m in 2019 from EGP233.64m in the previous year.

Arabian Cement’s positive energy

19 February 2020, Published under Cement News

Following its response to Egypt’s 2014 energy crisis, Suez-based producer Arabian Cement Co (ACC) has become a pioneer in the field of industrial energy efficiency. Having made the switch from natural gas to solid fuels the company has since placed even more emphasis on improving its energy performance as well as signing a private solar energy power purchase agreement, the largest of its scale in the country. By Arabian Cement Co, Egypt. The story behind ACC’s drive to enhance its ind...

Arabian Cement Co adjusts completion date for Rabigh plant

17 December 2019, Published under Cement News

On the back of project delays, Arabian Cement Co announced earlier this year that its new grinding plant in Rabigh, Saudi Arabia, was due for completion in the 1Q20 with commercial operations expected to begin in the following quarter. The company says the cement mills in Rabigh are 99.4 per cent completed. However, this has now been pushed back further. Commercial operations have now been projected to begin in the third quarter of 2020. The second phase of building of the clinker line...

Arabian Cement sees reduced profit in the 9M19

18 November 2019, Published under Cement News

Egypt’s Arabian Cement Co has reported an 85 per cent YoY fall in profit to EGP32.9m (US$2.04m) in the first nine months of 2019, compared to EGP214.8m in the year-ago period. The company’s standalone results declined to EGP32.58m in the 9M19, down from EGP215.1m in the corresponding period of 2018.

Arabian Cement's Rabigh plant to begin operations in 2Q20

27 September 2019, Published under Cement News

Construction work on Arabian Cement Co’s grinding plant in Rabigh, Saudi Arabia, is now 99.3 per cent complete. Full completion is due in the 1Q20 and commercial operations are scheduled to begin in the second quarter of next year. The company has stated that the contractor’s failure to comply with the schedule had caused project delays, according to a stock market filing. However, the delay in construction work has not affected the costs associated with the project and is not expected to...

Arabian Cement Co signs petcoke supply deal

05 August 2019, Published under Cement News

Egypt’s Arabian Cement Co has signed an agreement with Egyptian Refining Co, a subsidiary of Qalaa Holdings, for the supply of 272,155t of petcoke. "This agreement aligns with Arabian Cement Co’s efforts to reduce production costs, and highlight our leading market position in implementing projects and signing agreements with key industry partners," said Sergio Alcantarilla, CEO of ACC. According to Mr Alcantarilla, the agreement will help diversify the company's energy sources and result...

Arabian Cement posts 24% revenue increase in 2018

26 March 2019, Published under Cement News

Egypt-based Arabian Cement Co, a subsidiary of Spain’s Grupo Bertolin, posted a 23.6 per cent YoY increase in revenue to EUR168m in 2018. Meanwhile, net profit also advanced 7.4 per cent to EUR11.9m for the year. The results show that, despite a depreciation in the Egyptian pound, Arabian Cement has remained profitable. It distributed over EUR10m in dividends in 2018.

Arabian Cement records net loss in 2018

04 March 2019, Published under Cement News

Arabian Cement has recorded a SAR26.2m (US$6.98m) loss for the full-year 2018 period, compared with a SAR262.7m net profit of the previous year. The Saudi producer has attributed the loss to a drop in average selling prices, lower sales, higher financing expenses and zakat provision, according to the company’s statement to the Saudi Stock Exchange. Sales declined 34 per cent to SAR600.7m in 2018, falling from SAR905.7m in 2017. The 4Q18 saw the company’s profit drop 83.2 per cent YoY to SA...