Cement News tagged under: Saudi Cement

RSS feed

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...

New Chairman and Vice Chairman appointments at Saudi Cement

02 January 2019, Published under Cement News

Saudi Cement's Board of Directors have appointed Khalid bin Abdulrahman Saleh Al-Rajhi as a Chairman of the board and Muhammad bin Abdul Karim Al-Khariji as a Vice Chairman in a bourse filing.

Yanbu Cement 3Q profit slips

01 November 2018, Published under Cement News

Yanbu Cement posted 3Q revenues of SAR153m (US$40.8m), down 11.6 per cent YoY when compared with SAR173m reported in 3Q17. The Saudi cement producer’s net profit (after zakat and tax) edged down from SAR18m in 3Q17 to SAR17m in 3Q18.

Saudi cement sales drop 26% in August

12 September 2018, Published under Cement News

Saudi-based cement companies reported a decrease in sales of around 26 per cent in August to 2.76Mt from 3.7Mt in August 2017, according to data from Al Yamama Cement. The producer also reported a YoY fall in total output of 27.7 per cent YoY to 2.74Mt in August. Cement stocks were slightly lower by 0.6 per cent to 1.16Mt. While Southern Cement led sales at 463,000t, it noted a 1.7 per cent YoY drop from 471,000t in August of the year before. Saudi Cement followed with 355,000t, down eight...

Saudi Cement to use GE Power's Advanced Gas Path technology

15 May 2018, Published under Cement News

Saudi Cement has signed an agreement with GE Power for the upgrade of three GE 6B gas turbines at its Hofuf plant to increase power output and efficiency. This is the first GE Power's Advanced Gas Path (AGP) solution for a cement plant. CEO of Saudi Cement, Mohammed AlGarni said, "Power supply is both a key input, as well as one of the major costs in our manufacturing process. Reliable, efficient electricity supply is thus essential for the continuous operations of our facility, as well ...

Red Sea City plan raises Saudi cement firms' share prices

30 October 2017, Published under Cement News

Saudi Arabia’s plan to build an entirely new US$500bn city, Neom, by the Red Sea has breathed life into the country’s beaten-down cement sector. Shares of companies such as Saudi Cement Co, Southern Province Cement Co and Yanbu Cement Co, the country’s biggest by market value, have all risen since the kingdom announced the Neom plan earlier this week, reports Arabian Business. The announcement "is surely a long-term positive for the cement sector - a sector which has been reeling...