Cement News tagged under: Yanbu Cement
Yanbu Cement targets exports09 May 2019, Published under Cement NewsYanbu 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 1Q1901 May 2019, Published under Cement NewsSaudi 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-up21 January 2019, Published under Cement NewsSaudi 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 1Q1813 April 2018, Published under Cement NewsSaudi 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 exports27 March 2018, Published under Cement NewsYanbu 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... |
Yanbu Cement reports 39% fall in profit for 201716 March 2018, Published under Cement NewsSaudi Arabia’s Yanbu Cement has reported a 39.4 per cent YoY decrease in profit for the full-year 2017 period, falling to SAR319m (US$85.07m) from SAR526m. The company has attributed the results to a decline in sales volume and the average price of sales, according to Mubasher. In the 4Q17 profit dropped 7.7 per cent to SAR96m, compared with SAR104m of the year-ago period. |
Saudi Arabian companies report profit falls in 3Q1731 October 2017, Published under Cement NewsSaudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in 3Q16 to SAR36.9m in 3Q17. Hail Cement’s 9M17 profits decreased 85.2 per cent to SAR11.6m, compared t... |
Red Sea City plan raises Saudi cement firms' share prices30 October 2017, Published under Cement NewsSaudi 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... |
Saudi producers sees sales drop 16% in August 201718 September 2017, Published under Cement NewsThe sales of Saudi cement producers fell 15.5 per cent to 3.72Mt in August 2017 when compared to 4.4Mt reported in August 2016. Total production in August reached 3.79Mt, down YoY from 4.3Mt, according to Yamama Cement Co. Cement inventories rose 11.3 per cent YoY to 1.17Mt from 1.05Mt in the year-ago period. Southern Province Cement Co saw sales slide 36 per cent YoY to 471,000t in August 2017 from 637,000t in August 2016. Yanbu Cement sales slipped 2.1 per cent to 462,000t from 472,000... |
Yanbu reports decline in 1Q profit27 April 2017, Published under Cement NewsSaudi-based Yanbu Cement’s profits declined by 27.49 per cent YoY to SAR124m (US$33m) in the first quarter of 2017 from SAR171m. The decline in profits was attributable to weaker demand and fierce competition, according to a bourse filing on Wednesday. Total sales reached SAR296m in 1Q17 compared to SAR303m in the comparative period of 2016. |