Cement News tagged under: Saudi Arabia

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Yamama Cement signs SAR1.633bn financing agreement

04 April 2022, Published under Cement News

Yamama 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 2021

30 March 2022, Published under Cement News

Saudi 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 2021

29 March 2022, Published under Cement News

Northern 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 2021

24 March 2022, Published under Cement News

Saudi 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 project

15 March 2022, Published under Cement News

To 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 February

08 March 2022, Published under Cement News

The 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 2021

07 March 2022, Published under Cement News

Yanbu 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.

Arabian and Najran Cement take drop in net profits

02 March 2022, Published under Cement News

Arabian Cement Co posted revenues of SAR1003m  (US$267.5m) in 2021, up 18.5 per cent YoY from SAR871.9m. However, the company saw its net profit after zakat and tax decline by 12.6 per cent to SAR161.5m in 2021 from SAR184.9m in 2020. Meanwhile, Najran Cement Co reported a 6.7 per cent drop in revenues to SAR581.6m in 2021 from SAR623.2m in 2020. Its net profits after zakat and tax fell 17.6 per cent YoY to SAR165.54m in 2021 from SAR200.94m in 2020.

Saudi cement sales fall 6% to 4.9Mt in January

08 February 2022, Published under Cement News

The total sales of 17 Saudi cement producers fell per cent to 4.9Mt in January, compared to 5.2Mt in the same month last year, according to recent data issued by Yamama Cement Co . Locally, 13 market players reported lower sales, led by Northern Region Cement C o with a 60 per cent YoY decline. It was followed by United Cement Industrial Co (down 35 per cent YoY), and Al-Jouf Cement Co , down 24 per cent YoY. On the other hand, four companies recorded higher sales, headed by Y...

Aggregate Saudi Arabian Cement sales fall 7% in December

11 January 2022, Published under Cement News

The aggregate sales of 17 Saudi cement producers decreased by seven per cent to 4.8Mt in December 2021, from 5.2Mt in the same month last year, according to recent data issued by Yamama Cement Co. In terms of local sales, 14 companies witnessed a sales drop, led by Northern Region Cement Co with a decline of 58 per cent YoY. It was followed by United Cement Co and Hail Cement Co with YoY decreases of 34 and 27 per cent, respectively. Argaam reports that Yamama Cement, Tabuk Cement...