Cement News tagged under: Middle East

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Najran Cement reports 24% fall in revenue in 1Q22

24 May 2022, Published under Cement News

Najran Cement Co has recorded a 61.41 per cent YoY decline in net profit in the opening quarter of 2022. Net profit after zakat and tax came in at SAR23.28m (US$6.21m) in the 1Q22, compared to SAR60.34m in the same period a year earlier. Earnings per share in the first quarter of 2022 were SAR0.14, versus SAR0.35 in the same quarter a year earlier.   According to Mubasher, revenue over the 1Q22 stood at SAR139.86m, down 24.2 per cent from the SAR184.43m reported in the opening quarter o...

Yanbu Cement sees 17% fall in 1Q22 revenue

23 May 2022, Published under Cement News

Yanbu Cement has reported a 17.4 per cent YoY decline in revenue to SAR242m (US$64.53m) in the opening quarter of 2022. However, this was still above the SAR224m estimated by Al Rajhi Capital. Gross profit over the same period contracted by 33 per cent YoY, while operating profit fell by 41.4 per cent, according to Trade Arabia.   The Saudi company attributes the decline to a 6.7 per cent fall in cement volumes, which came in at 1.3Mt in the 1Q22. This compares to an average contraction...

Southern Province revenue down 25% in 1Q22

20 May 2022, Published under Cement News

Saudi Arabia-based Southern Province Cement Co has posted a revenue of SAR330m (US$88m) for the first three months of 2022. This represents a 25 per cent drop when compared with the 1Q21. Cement sales volumes were down 23.7 per cent YoY to 1.6Mt. Gross profit declined 42.3 per cent YoY while operating profit decreased 47 per cent YoY in the 1Q22. Gross margins were down to 32.2 per cent in the 3M22 from 41.9 per cent in the 3M21. "For Q1 2022, cement volume of SPCC fell by 23.7 per cen...

Lafarge to face charges for paying Islamic state in Syria

20 May 2022, Published under Cement News

A French appeals court has confirmed that the cement giant Lafarge must face charges of complicity in crimes against humanity over alleged payoffs to Islamic State group and other jihadist groups during Syria's civil war, reports France 24. Lafarge, now part of Holcim group , has acknowledged that it paid nearly EUR13m (US$13.7m) to middlemen to keep its Syrian cement factory operating in 2013-14, long after other French firms had pulled out of the country. The company contends that i...

Tabuk Cement sees 1Q losses

20 May 2022, Published under Cement News

Saudi cement producer Tabuk Cement Co reported revenues of SAR62.18m (US$16.58m), down 19.2 per cent YoY, in the January-March 2022 period, according to the company Net losses after zakat and tax were posted at SAR6.92 in the1Q22, against net profits of SAR10.06m in the 1Q21. In 2021 Tabuk Cement Co posted a 65.6 per cent drop in net profits after zakat and tax to SAR17.76m, compared to SAR51.58m in 2020.

Hail Cement posts 1Q22 sales losses of SAR6.9m

19 May 2022, Published under Cement News

Saudi Arabia's Hail Cement Co has reported losses of SAR6.9m (US$1.8m) in the 1Q22 after it witnessed a drop in sales. The cement producer had made profits of SAR25.9m in the same period last year, but a 16 per cent decline in sales weighed on the current year’s results, a bourse filing showed. The company's revenue went down from SAR82m to SAR69m YoY. Hail Cement also attributed the results to an increase in expenses, which led to operating losses of SAR7.36m during the quarter.

Arabian Cement 1Q profits see 37% drop

17 May 2022, Published under Cement News

Arabian Cement’ s net profit after zakat and tax declined 37 per cent YoY to SAR41.9m (US$11.2m) in the first quarter of 2022. When compared with the fourth quarter of 2021, net profits surged by 79.3 per cent from SAR23.3m. Revenues decreased 19.3 per cent YoY to SAR259.3m in the 1Q22 from SAR321.5m, according to a bourse filing. When compared with the previous quarter, 4Q21, revenues edged up by 1.4 per cent from SAR255.8m.

Iranian cement demand hits 4Mt mark

17 May 2022, Published under Cement News

Cement consumption in Iran reached 4Mt in April 2022, according to the Iranian cement association. The country produced 6.99Mt of clinker, of which it exported 0.79Mt. Cement production stood at 4.56Mt, which was mostly destined for domestic markets although 0.42Mt was exported.

Eastern Province Cement sees 52% drop in 1Q profits

13 May 2022, Published under Cement News

Saudi Arabian cement producer Eastern Province Cement Co reported a net profit after zakat and tax of SAR29m (US$7.7m) in the 1Q22, down 51.7 per cent YoY. Revenues declined 25.8 per cent YoY to SAR161m in the 1Q22 from SAR217m.

Cemex reports 1Q22 net sales increase of 13%

29 April 2022, Published under Cement News

Cemex announced its first quarter of 2022 results, with consolidated net sales and EBITDA growing YoY by 13 and three per cent, respectively, despite a challenging cost environment. The growth was led by a 12 per cent increase in cement prices in LfL terms, eight per cent in ready-mix, and seven per cent in aggregates, with all regions contributing to pricing gains.   Cemex continued to enjoy strong demand dynamics, with cement and ready-mix volumes growing high single to double-digits...