Cement News tagged under: Saudi Arabia

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Yamama Cement signs financing agreement

29 March 2021, Published under Cement News

Saudi Arabia’s Yamama Cement Co has signed a financing agreement with Al Rajhi Bank for a value of SAR863m (US$229.81m), including a SAR563m long-term facility and SAR300m in short-term financing. The long-term financing is over a period of five years and is expected to settle other banks’ obligations and improve financial efficiency, while the short-term facility is for one year and will finance Yamama Cement’s working capital.

Yanbu Cement Co appoints new CEO

29 March 2021, Published under Cement News

Yanbu Cement Co’s (Saudi Arabia) board of directors has accepted the resignation of its CEO, Ahmed bin Abdo Zugail, due to personal reasons. Mr Zugail’s resignation was effective from 27 March 2021. The board also appointed Ali bin Abdullah Al-Ayed as the new CEO of the company, effective from the same date.

Tabuk Cement sees profits rise 113% in 2020

08 March 2021, Published under Cement News

Saudi Arabia’s Tabuk Cement has seen its net profit surge 113.2 per cent to SAR51.58m (US$13.75m) in 2020, compared with SAR24.19m in the previous year. The increase in profit was driven by a rise in sales and other revenues, alongside a drop in the cost of sales, selling and marketing and financing expenses. Revenues also advanced 15.8 per cent YoY to SAR276.45m from SAR238.66m in 2019.

Southern Cement records sales of SAR1653m in 2020

08 March 2021, Published under Cement News

Southern Cement reported sales in 2020 of SAR1653m (US$440.8m), up 27 per cent YoY due to an increase in sales volume which increased by 24 per cent YoY, while net income for the year was up 32 per cent YoY reaching SAR609m.   For 4Q20 Southern Cement reported sales of SAR431m, with an increase of nine per cent YoY and one per cent QoQ, supported by higher total sales volumes, which were up eight per cent YoY but declined by two per cent QoQ to reach 2.1Mt in 4Q20. There was an improv...

Southern Province Cement reports 32% profit increase

05 March 2021, Published under Cement News

Saudi Arabia’s Southern Province Cement has reported a 31.5 per cent rise in net profit after zakat and tax to SAR609m (US$162.4m) in 2020, compared with SAR463m in the previous year. The company attributed the increase in net profit to higher sales revenue, a decrease in financing costs and an increase in other miscellaneous revenues, according to a statement. Its revenue also advanced 27.2 per cent YoY to SAR1.65bn from SAR1.3bn in 2019.

City Cement announces 16% increase in net profit

02 March 2021, Published under Cement News

Saudi Arabia’s City Cement has seen a 16 per cent YoY increase in net profit to SAR220.5m (US$58.8m) in 2020, compared with SAR190.1m a year earlier. The company’s revenue also rose 7.7 per cent YoY to SAR572.3m. The rise in annual profit was mainly due to higher sales value and volumes, alongside lower Zakat and general and administrative expenses, according to a bourse disclosure.

EU calls for greater use of secondary raw materials

26 February 2021, Published under Cement News

The EU Parliament’s own-initiative report adopted this month calls for an upgrading of secondary raw materials. Among other things, it provides for stronger environment-oriented public procurement with mandatory minimum criteria, for example in the construction industry.   For the Euroslag European network and the FEhS Building Materials Institute, this is an important step towards a comprehensive approval of secondary building materials and their conditional prioritisation in public ...

Najran Cement announces net profits of SAR204m in 2020

25 February 2021, Published under Cement News

Najran Cement announced its annual financial results on the Saudi Stock Exchange with a 281.8 per cent increase in its net profit to SAR204.3m (US$54m) in 2020, compared to SAR53.52m in 2019.   The company attributed the increase to increased sales quantity, lower cost of sales per tonne and lower financing expenses.   Najran Cement's sales increased to SAR623.2m in 2020, compared to SAR416.4m in 2019, an increase of about 49.7 per cent. Najran net profit amounted to SAR83.8m in ...

Financial ratio analysis

23 February 2021, Published under Cement News

Cement producers should use financial ratio analysis to compare their performance with others around the world. However, this must be combined with peer group analysis to account for differing operational circumstances. Figure 1: EBITDA profit margin Financial ratio analysis is used to assess the condition and performance of cement companies based on the performance published in their financial statements, such as their income statement (profit and loss), statement of financial ...

Saudi Cement Co sees 9% rise in revenue

19 February 2021, Published under Cement News

Saudi Cement Co has seen its net profit edge up one per cent YoY to SAR456m (US$121.6m) in the full-year 2020 period. The rise in annual net earnings was attributed to improved sales and other income, coupled with decreasing general, administrative and financing expenses. Revenue advanced 8.9 per cent YoY to SAR1.57bn from SAR1.44bn in 2019.