Cement News tagged under: Saudi Arabia

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Najran Cement signs financing agreement

28 April 2020, Published under Cement News

Saudi Arabia’s Najran Cement has signed a financing agreement with Bank Al-Jazira. The credit agreement will see a total of SAR355M (US$94.67m) paid semi-annually over five years. The first four years will see an annual payment of SAR51m and the remainder issued in the final year.

Umm Al Qura reports net profit surge in 1Q20

24 April 2020, Published under Cement News

Saudi Arabia’s Umm Al Qura has seen its net profit increase 79.1 per cent YoY to SAR38.5m (US$10.27m) in the first quarter of 2020, rising from SAR21.5m in the year-ago period. Quarterly sales surged 52 per cent to SAR96.5m from SAR63.5m. Average selling prices were also reported to have improved in the 1Q20.

Najran Cement Co reports positive 1Q20 results

24 April 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a 557.4 per cent surge in net profit to SAR40.1m (US$10.69m) in the first quarter of 2020, compared to SAR6.1m in the 1Q19. Sales advanced to SAR156.4m from SAR106.5m, on the back of a lower cost of sales and financing.

Yanbu Cement to reduce heat and power consumption

22 April 2020, Published under Cement News

Saudi-based Yanbu Cement Co(YCC) has signed an agreement in early 2020 for a considerable efficiency upgrade to be carried out by FLSmidth, focussing on reducing heat and power consumption.  With increased attention on sustainability in the region, YCC, located 400km north of Jeddah, has chosen FLSmidth to provide the equipment and carry out the installation, projected to bring significant reduction in heat and power consumption. The project includes the supply and installation of new top ...

Saudi cement sector reports positive 1Q20

17 April 2020, Published under Cement News

Despite the ongoing coronavirus pandemic, the Saudi cement sector has reportedly seen a 33 per cent YoY average increase in cement market volumes during the 1Q20, according to an Al Rajhi Capital report. Qassim Cement saw the highest growth at 53 per cent, followed by Yanbu Cement and Yamama Cement with rises of 43 and 38 per cent, respectively.   However, restrictions imposed by the government have resulted in project delays, which may directly impact cement demand and cause under-uti...

Al Jouf Cement returns to profit

24 March 2020, Published under Cement News

Saudi-based Al Jouf Cement has reported a net profit after zakat and tax of SAR5.3m (US$1.41m) in 2019 when compared with a loss of SAR39.5m in 2018. The company saw sales rise to SAR169.8m in 2019 from SAR137.7m in the previous year. In addition, the cost of sales as well as general and marketing expenses was down.

China: outward bound

23 March 2020, Published under Cement News

China’s Belt and Road Initiative (BRI) is now an integral part of the country’s overseas expansion policy. Since its inception in 2013, the BRI has been one of the essential vehicles driving the global spread of Chinese technology and providing a platform for corporate cement and construction giants to enter new markets. ICR takes a look at the initiative’s progress to date and the impact on China’s cement industry, as its shifts from its purely domestic production base to establishing its p...

Eastern Province sees profit surge in 2019

20 March 2020, Published under Cement News

Saudi cement producer Eastern Province Cement Co (EPCC) has posted a 158.7 per cent jump in profits to SAR181m (US$48.3m) in 2019, up from SAR70m in 2018. Revenues increased 28.8 per cent to SAR729m last year. The increase in net profits after zakat and tax has been attributed to higher sales volumes and prices, investment income and a lower zakat provision and a refund on a provision for credit losses. There was also a reduction in losses on disposal of property, plant and equipment, repo...

City Cement reports 61% rise in profit

16 March 2020, Published under Cement News

Saudi Arabia’s City Cement has reported a 61 per cent YoY increase in net profit to SAR180.9m (US$48.2m) in 2019, rising from SAR112.3m in the previous year. The company’s total sales also advanced 54.1 per cent to SAR531.4m from SAR344.9m.

Southern Province Cement Co sees net profit surge 137%

11 March 2020, Published under Cement News

Saudi Arabia’s Southern Province Cement Co has seen its net profit for 2019 surge 137.4 per cent YoY to SAR463m (US$123.47m) from SAR195m. The considerable advance has been attributed to a 46.4 per cent increase in sales, amongst other factors. Company revenue also climbed 46.4 per cent to SAR1.3bn from SAR888m in 2018.