Cement News tagged under: Saudi Arabia
Saudi Arabia: Southern Province 3Q16 profit drops 14%18 October 2016, Published under Cement NewsSouthern Province Cement posted a 14.4 per cent YoY decrease in profits from SAR202m (US$53.9m) in 3Q15 to SAR173m in 3Q16. Lower demand and higher depreciation were cited as the key reasons for the decline. In the first nine months of 2016, the cement producer registered net profits of SAR724m, down from SAR739m for the same period of the previous year. |
Saudi Arabia: low demand sees Najran Cement 3Q16 profits halved18 October 2016, Published under Cement NewsLower sales volumes due to a slowdown in construction activity have seen the net profit of Saudi Arabian-based Najran Cement halve YoY from SAR32.07m (US$8.55m) in 3Q15 to SAR15.36m in 3Q16. The profit fall came despite lower selling and distribution expenses, Zakat (tax) as well as higher other revenues. As for the nine-month period ended 30 September 2016, the Saudi cement producer reported a net profit of SAR110m, down 45.5 per cent from SAR201.89m in the same period in 2015. |
Saudi Arabia: Aumund and Sweidan open new spare parts unit17 October 2016, Published under Cement NewsA UMUND Fördertechnik GmbH, Germany, and S WEIDAN Industrial Services, Riyadh, Saudi Arabia, have opened a new spare parts stock unit at the Riyadh warehouse to be at full disposal with parts instantly available. This is of particular importance in a case of emergencies when equipment needs to be quickly up and running again. Additionally, a local A UMUND Supervisor is available to support customers. |
Saudi Arabia: Qassim Cement reports lower-than-expected 3Q16 profits11 October 2016, Published under Cement NewsSaudi Arabia’s Qassim Cement reported a profit of SAR70.4m (US$18.8m) in 3Q16 and an operating profit of S AR78.3m. The results were lower than expected, according to Al Rahji Capital, who had estimated them at SAR86m and SAR91m, respectively. "Earnings declined mainly due to sharp drop in gross margin to 49.3per cent (vs 60.1 per cent in 3Q15) which in turn was due to lower sales volume and average realised price/tonne,” Al Rajhi Capital reported. The fall in profits was attributed to... |
Saudi Arabia: sales drop 10%03 October 2016, Published under Cement NewsAccording to a report quoting Yamama Cement data, total cement sales in Saudi Arabia stood at 4.34Mt for the month of August, registering a 10.3 per cent decrease YoY. However, the figure was up 41 per cent on the previous month. Total inventory reached a high of 26.35Mt, representing 45 per cent of the last 12 month's sales. Inventory grew 11.7 per cent YoY and five per cent on the previous month, according to an Al Rajhi Capital report. For the month of August, cement production in t... |
Saudi Arabia: Tabuk Cement delays opening of second clinker line30 September 2016, Published under Cement NewsTabuk Cement's second clinker production line will not now begin commercial operations until the second quarter of 2017, the company said in a statement to the Saudi stock market. The company attributed the delay to irregularities concerning capacity and specification of the line, adding that it would incur no additional cost or financial impacts due to the delay. |
Saudi Arabia cement companies see sales and production fall 10%20 September 2016, Published under Cement NewsSales of cement by Saudi Arabian companies declined by 9.93 per cent YoY in August, while production dropped by 10.4 per cent, Mubasher reports. Output for August was 4.3Mt, while deliveries were 4.4Mt. The fall in sales was unevenly distributed, with some companies – notably Riyadh Cement and City Cement – seeing double-digit increases. Of the bigger players, Saudi Cement escaped the worst, with its sales falling by 1.5 per cent, while Yanbu fared particularly poorly, with sales dropping... |
Saudi Arabia: EPCC hydraulic breaker25 August 2016, Published under Cement NewsAtlas Copco Middle East has commissioned the regions first HB10000 hydraulic breaker at EPCC in Dammam, Saudi Arabia. The HB10000 weights 10t and is mounted on a Komatsu PC1250 excavator, making it the world’s largest commercially-available hydraulic breaker, according to a company issued statement. EPCC will use the HB10000 for hard limestone deposits. Fiaz Ghani, regional business manager for Atlas Copco, said, “The HB 10000 provides an ideal solution for EPCC’s primary quarrying app... |
EPCC switches to a new era15 August 2016, Published under Cement NewsABB recently installed an upgrade at Eastern Province Cement Company (EPCC), Saudi Arabia, adding the latest electrical infrastructure technology integrated with ABB’s 800xA automation system to enhance plant availability and reliability. By ABB, Switzerland. Eastern Province Cement Co, Al Khursaniya, Saudi Arabia, upgraded its switchgears to improve the plant's reliability and availability Eastern Province Cement (EPCC) operates its plant in Al Khursaniya, in the eastern par... |
Saudi Arabia: cement firms come under pressure09 August 2016, Published under Cement NewsSaudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southern Province Cement were the top performers in 2Q16. Saudi Cement revenue was up 11 per cent YoY, whi... |