Cement News tagged under: Saudi Arabia

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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.

Yamama Cement reports revenues of SAR211m in FY20

15 February 2021, Published under Cement News

Saudi Arabia’s Yamama Cement (YSCC) registered revenue of SAR211m (US$56m) in FY20,a YoY drop of 10.8 per cent. Cement sales volumes for 4Q20 reached at 1.19Mt. Gross profit and operating income fell by 23.2 per cent YoY and 24.8 per cent YoY, respectively. For 2020 YSCC registered a volume growth of 17.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local market, reports Trade Arabia. “The operating performance during the quarter was impacted by high p...

Yanbu Cement prepares to shutdown Line No 4 for 60 days

11 February 2021, Published under Cement News

Yanbu Cement announced that its production line No 4 will be shut down for 60 days from the 15 February 2021, in line with the implementation of its strategic plan of modernisation, according to a bourse filing. Cement sales will not be impacted by the suspension of the production line, given the sufficiency of its clinker strategic stocks, reports the company. Meanwhile, production line No 5, which represents 60 per cent of the company's total capacity, will continue at full capac...

Hail Cement Co sees net profit rise 82%

26 January 2021, Published under Cement News

Saudi Arabia’s Hail Cement Co has seen its net profit surge by 82 per cent YoY to SAR107.5m (US$28.67m) in 2020. The company has attributed the results to an increase in revenue and a decline in some expenses. Revenue advanced 22.6 per cent to SAR336.3m, compared with SAR274.4m in 2019.

Southern Province Cement elects new board members

04 January 2021, Published under Cement News

Saudi Arabia's Southern Province Cement Co has elected new members to the board of directors for its new session, which began on 1 January 2021 for a period of three years. As such, Dr Hamad Bin Suliman Al-Bazai will serve as the new chairman of the board. Mohammed Bin Nasser Al-Nabit is vice-chairman and Saud Bin Safar Al-Bargan is secretary of the board.

Hail Cement to repay outstanding loan amount

16 December 2020, Published under Cement News

Hail Cement said its Board of Directors decided on 15 December 2020, to pay early and in full the balance amount of the loan from the Saudi Industrial Development Fund (SIDF). The amount of SAR152m (US$40.53m) is what is left from the original loan amount of SAR300m. A total of SAR148mis has already been repaid, the firm said in a statement.  The financial impact will be reflected in the statements for the year ending 31 December 2020.

Saudi Arabia saw cement sales rise 17% in November

10 December 2020, Published under Cement News

Cement sales in Saudi Arabia increased 16.5 per cent YoY to 4.75Mt in November 2020, driven by the Ministry of Housing’s programmes, according to NCB Capital Co. On a monthly basis, local cement sales edged up by 0.7 per cent in November, reaching the second-highest monthly figure since January 2017. Clinker production was down 0.8 per cent MoM to 4.3Mt, but cement production saw a modest rise of 1.1 per cent to 5Mt. Clinker exports surged 85 per cent YoY to 490,000t, while the coun...

Riyadh Cement completes record kiln operation

01 December 2020, Published under Cement News

Saudi Arabia-based Riyadh Cement Co has completed its longest kiln operation without interruption with 70 days of continuous operation (1676.67h) without any single minute interruption. The plant also operated the kiln at 103 per cent capacity, averaging 5145tpd of production from 5000tpd of designed plant capacity.   The stoppage was preventively taken to inspect the clinker pan conveyor which took about 4-6h maintenance. This performance was only possible due to the high leve...

Al Akaria sells stake in Hail Cement

23 November 2020, Published under Cement News

Saudi Arabia’s Al Akaria, a real estate company, has sold its entire stake in Hail Cement Co at a value of SAR96.9m (US$25.84m). The company had a stake of 6m shares and made a profit of SAR36.9m in the transaction, according to a statement on the Saudi Stock Exchange.

Saudi: a belief in brighter days

17 November 2020, Published under Cement News

Some of the shine has been taken off Saudi Arabia’s cement market as a result of the COVID-19 pandemic and lower oil prices. However, the sector remains relatively healthy and the housing market is expected to continue driving demand, while the implementation of mega projects could be a game-changing catalyst. By EFG Hermes, Saudi Arabia. Saudi Arabia’s long-term potential trumps short-term challenges Despite the COVID-19 shock, cement demand in Saudi Arabia is expected to grow ...