Cement News tagged under: Yanbu Cement

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Yanbu Cement acquires Yanbu Saudi Kuwaiti Paper Products Co

25 April 2022, Published under Cement News

Saudi’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...

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.

Yanbu Cement completes modernisation project

14 December 2021, Published under Cement News

Yanbu Cement Co has announced   the completion of its Kiln Line 4 modernisation project following the recent shutdown. The reason for exceeding the previously announced end date is due to the delay in receiving some spare parts and the improvement of operations of the Line 4.

Yanbu Cement posts 23% rise in revenue

16 July 2021, Published under Cement News

Saudi Arabia’s Yanbu Cement Co has reported a 11.1 per cent YoY fall in net profit to SAR115.23m (US$30.73m) in the first half of 2021, compared to SAR129.56m in the year-ago period. Revenue advanced 23 per cent YoY to SAR535.09m from SAR434.33m in the 1H20. In the second quarter of the year, net profit increased 12 per cent YoY to SAR41.83m while revenue climbed 54.6 per cent to SAR242.69m in the 2Q21.

Yanbu Cement sees revenue increase 5%

23 April 2021, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 5.4 per cent rise in revenue to SAR292.4m (US$77.97m) for the first quarter of 2021, compared to SAR277.4m in the year-ago period. However, the company’s net profit declined 20.4 per cent YoY to SAR73.39m from SAR92.23m in the 1Q20. Despite the increase in revenues due to improved sales, a decline in the average selling price and the accompanying increase in the cost of sales led to the fall in net profit.

Yanbu Cement provides update on line modernisation

21 April 2021, Published under Cement News

Saudi Arabia-based Yanbu Cement Co has delivered an updated related to its project which required the shutdown of its fourth line in February. The line modernisation has reached 90 per cent completion, but the project’s expected 60-day timeline has been affected by a delay in receiving spare parts. The company has stated that the financial impact will be limited to the increase in production costs incurred since the shutdown date. Sales are not expected to be impacted due to its sufficie...

Yanbu Cement Co appoints new CEO

29 March 2021, Published under Cement News

Yanbu Cement Co’s (Saudi Arabia) board of directors has accepted the resignation of its CEO, Ahmed bin Abdo Zugail, due to personal reasons. Mr Zugail’s resignation was effective from 27 March 2021. The board also appointed Ali bin Abdullah Al-Ayed as the new CEO of the company, effective from the same date.

EP100 companies avoid release of 328Mt of CO2

18 November 2020, Published under Cement News

The Climate Group’s  EP100 Progress and Insights Report 2020 tracks the rapid progress of energy-smart member companies improving their energy and productivity. It reveals that by using the latest technologies, improving processes, and digitising use, just 33 EP100 companies have avoided 328Mt of CO 2 equivalent (CO 2 e) to date – more than the annual emissions of France. The transition is also good news for business, with a total of US$200m in savings saved annually by the 22 companie...

Yanbu Cement sees a 33% rise in net profit

16 October 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has seen a 5.4 per cent YoY increase in revenue to SAR240m (US$64m) for the third quarter of 2020, against SAR227.97m in the 3Q19. The company also saw a 33.2 per cent YoY rise in net profit to SAR82.48m from SAR61.94m in the year-ago period. The improvement was attributed to higher revenue and lower expenses.   Over the nine-month period ended 30 September, Yanbu recorded a net profit of SAR210.12m, up 20 per cent YoY from SAR174.9m in the 9M19.

Yanbu Cement appoints new chairman

14 July 2020, Published under Cement News

Yanbu Cement Co has appointed Fahd Bin Soliman Al Rajhi as chairman of the board, reports Reuters.  Mr Al Rajhi served since 2017 as deputy chairman of the Saudi-based cement producer and is also vice chairman of Sahara International Petrochemical Co.