Cement News tagged under: Saudi Cement

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Saudi Cement buys 37% share of United Cement

17 August 2021, Published under Cement News

Saudi Cement Co has acquired a 37 per cent stake in United Cement Industrial Co (UCIC) for SAR28m (US$330,426), as announced in Saudi Cement’s 2Q21 company report. Accordingly, Saudi Cement increased its stake in the subsidiary from 63 to 100 per cent. The company purchased items of property and equipment for SAR24.94m in the 1H21, while additions to capital work in progress amounted to SAR9.35m. UCIC, which was established in 2013, operates a 2Mta integrated cement plant ...

Saudi Cement sees 14% rise in profit

10 August 2021, Published under Cement News

Saudi Cement Co has posted a 14.1 per cent YoY rise in net profit to SAR86.4m (US$23.04m) in the quarter ending 30 June 2021, compared to SAR75.7m in the year-ago period. Revenue also climbed 17 per cent YoY to SAR348.1m from SAR297.5m in the 2Q20.

Saudi Cement announces new board member

02 July 2021, Published under Cement News

Saudi Cement Co has announced the resignation of board member Mohammad Sulaiman Balghonaim and the appointment of Mansour Mohammed Balghonaim as a member of the board to complete the term of his predecessor for the remainder of the current term, which ends on 31 December 2021. Mr Balghonaim has around 16 years of experience in banking and currently serves as head of Business Development for Wholesale Banking at the Gulf International Bank.

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.

Saudi Cement sees revenue advance 25% YoY

02 November 2020, Published under Cement News

Saudi Cement saw its revenue advance 24.7 per cent YoY to SAR387m (US$103m) in the 3Q20, supported by a 19.8 per cent growth in cement volumes to 1.6Mt.Gross profits and operating income increased by 23.8 per cent YoY and 22.8 per cent YoY, respectively. In the first nine months of 2020, Saudi Cement saw a volume growth of 9.9 per cent YoY.

Saudi Cement producers profits recover in 2Q19

02 August 2019, Published under Cement News

Saudi Cement posted net income of SAR92.3m (US$24.613m) in 2Q19 and profits were up 59 per cent in the period compared to 2Q18, but declined  by 30.3 per cent compared to 1Q19. The company recorded cement sales of SAR338.6m and received average prices of SAR217.6/t. "The YoY increase is mainly attributed to improved selling price and volumetric sales, despite an increase in administrative expenses. Deviation in 2Q earnings from our estimates is mainly ascribed to higher-than-expected cost...

WCA appoints vice president

18 July 2019, Published under Cement News

The World Cement Association (WCA) has appointed Mohammed A Al-Garni as its vice president. Mr Al-Garni is the CEO of Saudi Cement Co and board member of WCA. "It is a great honour to be chosen as the new Vice President of the World Cement Association and I am really excited to participate in helping it grow further, supporting the association in its role as the voice of the cement industry globally," said Mr Al-Garni. Mr Al Garni has 35 years of experience in the cement industry.

Saudi sales rise in June 2019

12 July 2019, Published under Cement News

Cement sales in Saudi Arabia increased 20 per cent YoY to 2.55Mt in June 2019, compared to 2.13Mt in the same month last year, according to data compiled by Yamama Cement Co. Only four cement producers out of 17 in total reported lower sales for the month. Tabuk Cement saw the largest decline (-27.9 per cent to 57,000t), followed by Hail Cement (-21 per cent to 64,000t) and Yamama Cement (-13.4 per cent to 219,000t). However, 12 manufacturers reported an increase in sales. This was led by...

Yanbu Cement sees net profit surge 81% in 1Q19

01 May 2019, Published under Cement News

Saudi Arabia’s Yanbu Cement Co has reported an 81.3 per cent YoY rise in net profit for the first quarter of 2019, increasing to SAR72.9m (US$19.4m) from SAR40.2m a year ago. The profit surge has been attributed to the higher selling prices and lower average cost, due to a higher quantity of clinker production. Sales also saw a significant growth of 20.6 per cent to SAR259.8m, compared with SAR215.5m in the 1Q18.

Exports help Saudi cement sales rise 7% in December

17 January 2019, Published under Cement News

Cement and clinker sales in Saudi Arabia rose 7.2 per cent YoY to 4.37Mt (including exports) in December 2018 compared to 4.08Mt in the previous year, reports Aljazira Capital.   Clinker inventory increased 18.8 per cent YoY and 0.8 per cent MoM to 42.34Mt last month, but cement dispatches were down 10 per cent YoY.   The plant utilisation rate in the Saudi cement sector fell to 54.1 per cent in December, compared to 62.4 per cent in the same period last year. Hail and Southern Cement record...