Cement News tagged under: Saudi Arabia
Arabian Cement 1Q profits see 37% drop17 May 2022, Published under Cement NewsArabian 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. |
Eastern Province Cement sees 52% drop in 1Q profits13 May 2022, Published under Cement NewsSaudi 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. |
Yanbu Cement acquires Yanbu Saudi Kuwaiti Paper Products Co25 April 2022, Published under Cement NewsSaudi’s Yanbu Cement has acquired shares owned by Kuwait’s Shuaiba Industrial Co in its unit Yanbu Saudi Kuwaiti Paper Products Co for SAR32.3m (US$8.6m). The transaction allowed the transfer of a 40 per cent stake in the paper manufacturer to Yanbu Cement, making it the full owner of the former, according to a bourse filing. Yanbu Cement will fund the transaction from its own resources. In line with the company’s expansion and growth visions, the deal aims to provide material a... |
Yamama Cement signs SAR1.633bn financing agreement04 April 2022, Published under Cement NewsYamama Cement Co signed a Shariah-compliant financing agreement on 31 March for SAR1.663bn (US$435.4m) with Saudi National Bank, the cement producer said in a statement to the Tadawul. The agreement covers long-term financing of SAR800m, for a period of eight years (including three years of grace period), and refinancing part of the existing long-term loans amounting to SAR563m, for a period of four years to repay part of existing loans. It also includes short-term financing of SAR... |
Riyadh Cement sees 4% drop in net profits in 202130 March 2022, Published under Cement NewsSaudi cement company Riyadh Cement Co posted a 3.8 per cent decline in net profits after zakat and tax to SAR211.64m in 2021, when compared with 2020 when net profits after zakat and tax reached SAR219.95m. Revenues were up 13.7 per cent to SAR671.06m in 2021 from SAR590.29m in 2020, according to a bourse filing. |
Northern Region Cement Co announces net profits of SAR107m in 202129 March 2022, Published under Cement NewsNorthern Region Cement Co has achieved net profits after zakat (charitable donations) and tax worth SAR106.67m (US$28.4m) in 2021, a decline of 1.4 per cent from SAR108.22m in 2020. Revenues fell by 13.7 per cent to SAR561.91m last year from SAR651.48m in 2020. In the 3Q21 the Saudi listed firm reported net profit after zakat and tax worth SAR18.35m, an YoY drop of 14 per cent from SAR21.43m. |
Tabuk Cement Co sees profits fall by 65% in 202124 March 2022, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co saw its profits drop by 65 per cent in 2021 on the back of lower sales. Profits of the company dropped from SAR51.6m(US$13.8m) to SAR17.8m, according to a bourse filing. This came as sales fell by 17.3 per cent to SAR229m. |
Al Safwa Cement to pilot microalgae project15 March 2022, Published under Cement NewsTo promote the concept of a circular carbon economy and support sustainability, a collaboration contract has been signed between Al Safwa Cement Co and Desert Microalgae Technology (DMT), and also its technical partner clean Combustion Research Center (CCRC) at King Abdullah University of Science and Technology (KAUST). At KAUST it was agreed that DMT build and develop a pilot project at Al Safwa plant to cultivate microalgae using waste resources (carbon emitted from flue gas and brin... |
Saudi Arabian cement sales fall in February08 March 2022, Published under Cement NewsThe aggregate sales of 17 Saudi Arabian cement producers fell 14 per cent to 4.3Mt in February, from 5Mt in the same month last year, according to recent data issued by Yamama Cement Co . Locally, 14 market players reported lower sales: Northern Region Cement C o with a 63 per cent YoY drop, followed by Arabian Cement Co, down 34 per cent YoY, and Al-Jouf Cement Co, down 30 per cent YoY. However, three companies recorded higher sales, led by Yamama Cement Co with a 75 per cent YoY... |
Yanbu Cement profits drop 43% in 202107 March 2022, Published under Cement NewsYanbu Cement saw its revenue slip to SAR934m (US$249.1m) in 2021 from SAR940m in 2020. As selling prices fell, net profit decreased 43 per cent to SAR160m in 2021 from SAR281m in the previous year, according to a bourse filing. An increase in general and administrative expenses also contributed to the decline in profit. |