Cement News tagged under: Saudi Arabia
City Cement announces 16% increase in net profit02 March 2021, Published under Cement NewsSaudi Arabia’s City Cement has seen a 16 per cent YoY increase in net profit to SAR220.5m (US$58.8m) in 2020, compared with SAR190.1m a year earlier. The company’s revenue also rose 7.7 per cent YoY to SAR572.3m. The rise in annual profit was mainly due to higher sales value and volumes, alongside lower Zakat and general and administrative expenses, according to a bourse disclosure. |
EU calls for greater use of secondary raw materials26 February 2021, Published under Cement NewsThe EU Parliament’s own-initiative report adopted this month calls for an upgrading of secondary raw materials. Among other things, it provides for stronger environment-oriented public procurement with mandatory minimum criteria, for example in the construction industry. For the Euroslag European network and the FEhS Building Materials Institute, this is an important step towards a comprehensive approval of secondary building materials and their conditional prioritisation in public ... |
Najran Cement announces net profits of SAR204m in 202025 February 2021, Published under Cement NewsNajran Cement announced its annual financial results on the Saudi Stock Exchange with a 281.8 per cent increase in its net profit to SAR204.3m (US$54m) in 2020, compared to SAR53.52m in 2019. The company attributed the increase to increased sales quantity, lower cost of sales per tonne and lower financing expenses. Najran Cement's sales increased to SAR623.2m in 2020, compared to SAR416.4m in 2019, an increase of about 49.7 per cent. Najran net profit amounted to SAR83.8m in ... |
Financial ratio analysis23 February 2021, Published under Cement NewsCement producers should use financial ratio analysis to compare their performance with others around the world. However, this must be combined with peer group analysis to account for differing operational circumstances. Figure 1: EBITDA profit margin Financial ratio analysis is used to assess the condition and performance of cement companies based on the performance published in their financial statements, such as their income statement (profit and loss), statement of financial ... |
Saudi Cement Co sees 9% rise in revenue19 February 2021, Published under Cement NewsSaudi 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. |
Yamama Cement reports revenues of SAR211m in FY2015 February 2021, Published under Cement NewsSaudi Arabia’s Yamama Cement (YSCC) registered revenue of SAR211m (US$56m) in FY20,a YoY drop of 10.8 per cent. Cement sales volumes for 4Q20 reached at 1.19Mt. Gross profit and operating income fell by 23.2 per cent YoY and 24.8 per cent YoY, respectively. For 2020 YSCC registered a volume growth of 17.9 per cent YoY. Growth was aided by strong momentum in real estate activities in the local market, reports Trade Arabia. “The operating performance during the quarter was impacted by high p... |
Yanbu Cement prepares to shutdown Line No 4 for 60 days11 February 2021, Published under Cement NewsYanbu Cement announced that its production line No 4 will be shut down for 60 days from the 15 February 2021, in line with the implementation of its strategic plan of modernisation, according to a bourse filing. Cement sales will not be impacted by the suspension of the production line, given the sufficiency of its clinker strategic stocks, reports the company. Meanwhile, production line No 5, which represents 60 per cent of the company's total capacity, will continue at full capac... |
Hail Cement Co sees net profit rise 82%26 January 2021, Published under Cement NewsSaudi Arabia’s Hail Cement Co has seen its net profit surge by 82 per cent YoY to SAR107.5m (US$28.67m) in 2020. The company has attributed the results to an increase in revenue and a decline in some expenses. Revenue advanced 22.6 per cent to SAR336.3m, compared with SAR274.4m in 2019. |
Southern Province Cement elects new board members04 January 2021, Published under Cement NewsSaudi Arabia's Southern Province Cement Co has elected new members to the board of directors for its new session, which began on 1 January 2021 for a period of three years. As such, Dr Hamad Bin Suliman Al-Bazai will serve as the new chairman of the board. Mohammed Bin Nasser Al-Nabit is vice-chairman and Saud Bin Safar Al-Bargan is secretary of the board. |
Hail Cement to repay outstanding loan amount16 December 2020, Published under Cement NewsHail Cement said its Board of Directors decided on 15 December 2020, to pay early and in full the balance amount of the loan from the Saudi Industrial Development Fund (SIDF). The amount of SAR152m (US$40.53m) is what is left from the original loan amount of SAR300m. A total of SAR148mis has already been repaid, the firm said in a statement. The financial impact will be reflected in the statements for the year ending 31 December 2020. |