Cement News tagged under: Yanbu Cement

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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.

Saudi Arabia records 10% demand increase in 5M20

25 June 2020, Published under Cement News

Saudi Arabia’s cement sector has reportedly seen a 10 per cent YoY demand growth in the first five months of 2020, according to Al Rajhi Capital. Qassim Cement and Yanbu Cement saw the highest YoY increase of 21 and 18 per cent, respectively, for the combined period of April and May. However, when comparing the first two months of 1Q20 with the first two months of 2Q20, volumes have declined by almost 50 per cent. "We estimate that for the next couple of years, the industry will wit...

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...

Yanbu Cement reports 183% rise in net profit for 2019

05 March 2020, Published under Cement News

Saudi Arabia’s Yanbu Cement has reported a 182.7 per cent increase in net profit to SAR257.8m (US$68.75m) for 2019, compared to SAR91.2m in the previous year. The company’s revenue also climbed 27.2 per cent YoY to SAR975.7m from SAR767.1m.

What characterised the cement world in 2019?

20 December 2019, Published under Cement News

This week ICR looks back at a big year for the cement sector when news centred on several core themes. Prominent trends in our news flow have been the evolution of cement volumes, overcapacity and CO 2 reduction measures. Cement volumes There were a number of positives for cement demand in the 2019, with key markets on the whole performing robustly. At the start of 2019, SNIC President, Paulo Camillo, was suggesting that Brazil would see a change in domestic volumes "After four years ...

Yanbu Cement targets exports

09 May 2019, Published under Cement News

Yanbu Cement is targeting a rise in exports, having exported 997,000t of cement and clinker in 1Q19, approximately 40 per cent of Saudi Arabia's cement and clinker exports. Speaking on domestic demand, Ahmed Zugail, Yanbu Cement's CEO, said: "Demand has not improved in 1Q19. The sector sales dropped nine per cent YoY in the first quarter." Mr Zugail added that the government's mega projects like NEOM, the Red Sea, and Qiddiya are still in the planning and design phase. "On the other hand...

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.

Saudi producers to benefit from Neom Bay construction start-up

21 January 2019, Published under Cement News

Saudi Arabia will start developing the first major area of Neom, the kingdom's multi-billion dollar mega-city, from 1Q19. The founding board of Neom, chaired by Crown Prince Mohammed bin Salman, approved the concept of the masterplan for ‘Neom Bay’ which will be the first residential area to be developed in the city. The construction work will be completed in 2020. The full implementation phase of the US$500bn Neom project could potentially bring in more than 20Mta of cement demand at its...

Saudi Arabia cement sales fall 11% in 1Q18

13 April 2018, Published under Cement News

Saudi Arabia's total cement sales for 1Q18 stood at 11.8Mt, down 11 per cent YoY and one per cent QoQ. The combination of weak demand and high inventory levels forced the companies to seek other solutions such as entering other regions within the kingdom as well as exporting with low selling prices. Yanbu Cement’s low cash cost per tonne gives the company the ability to export at lower prices, which is likely not possible for other companies to replicate, says finance research group Al Raj...

Yanbu Cement begin cement and clinker exports

27 March 2018, Published under Cement News

Yanbu Cement Co has signed a one-year agreement to export 1Mt of clinker and 0.5Mt of cement as of April 2018. The company added that the deal is expected to boost company's revenues by SAR100m (US$26.6m) during FY18.   Analysts EFG Hermes estimates that the cement producer will sell cement at SAR140/t (a discount to prevailing 4Q17 price it had reported but substantiated given large quantities) and clinker at SAR65/t (which is close to its cost of SAR60/t). EFG Hermes assume the total agr...