Displaying items by tag: Saudi Cement Co

Saudi Arabia: Saudi Cement Company has launched a new brand identity that embodies the company's future vision for growth.

A ceremony was held at the Sheraton Damman Hotel to mark the occasion in the presence of senior government officials, businessmen, suppliers and clients. The event also marked the company's diamond jubilee.

According to a statement, Saudi Cement chose to evolve its brand and motto in order to reflect a new identity and pledge solid commitment to clients in line with its vision and determination to continue in the path of fundamental evolution embarked on in 2008.

Chairman Khalid bin Abdul-rahman Al Rajhi said that the new identity confirms that Saudi Cement is looking forward to a brighter future. "In light of the changing conditions in the markets of the cement industry, the company reveals a new brand identity that reflects its historical legacy and our present day status, as well as our relentless efforts to be innovative and have a positive impact on the future," said the Chairman. "All of the shareholders, customers, employees, suppliers and the community we serve have played a part in our successful achievements and we cherish our excellent relations with them."

Managing Director Walid bin Ahmed Al Juffali highlighted the importance of planning and development in the outstanding performance of the company. He said that there were a number of key factors to the success of the company, including the concerted efforts of co-operation between the staff of the company, customers' trust and the favourable climate created by the government to support national companies.

"We were able to attain the objectives that we set during the past decade," said Al Juffali. "Armed with a clear vision we set our goals, outlined our values and managed to develop the organisational structure of the company and motivate the human resources to materialise our objectives. Thus Saudi Cement was able to attain its well-deserved leading position and looks forward to a promising future. The leading position assumed by Saudi Cement is the outcome of a solid foundation and historical heritage spanning half-a-century during which the company was able to weave close relations with stakeholders, clients, suppliers and the community it is serving to the benefit of all parties." He stressed that the new brand identity is an accolade deserved by merit of outstanding performance in the region, driving the company to become one of the major and most trusted companies in the Saudi and Middle East markets.

Saudi Cement benefits from its presence in Al Ahsa, in close proximity to the energy needed to run the cement plant and raw materials essential for the cement manufacturing process, as well as the availability of skilled labour and craftsmen. The proximity of the cement plant, linked by rail to King Abdul Aziz Port in Dammam also helps to facilitate cement exports.

Saudi Arabia: Saudi Cement Co has announced that it will not restart cement production after refurbishment work on two kilns at its Hofuf, Eastern Province plant due to high inventory levels and weak demand. The company has reported falling year-on-year profits in the first half of 2014. Between January and August 2014, sales fell by 14% year-on-year because of increased volumes being produced by Saudi cement firms and stagnant demand.

"The feasibility of operating the two kilns shall be reconsidered whenever market conditions warrants it," said Saudi Cement. The company expects to record annual depreciation charges of about US$2m related to the kilns from the fourth quarter of 2014 onwards.

Saudi Arabia: Cement sales dropped by 17% year-on-year to 3.65Mt in November 2013 from 4.37Mt in November 2012, according to local media. The decline in sales was blamed on a campaign against migrant workers following the end of an amnesty period on 3 November 2013.

Sales of all of the cement companies fell during November 2013 with the exception of Northern Province Cement Company, Arabian Cement Company and Madinah Cement Company, whose sales increased by 58%, 24% and 20% respectively, according to data from Yamamah Cement Company. Riyadh Cement Company and Jouf Cement Company posted the biggest drop in November 2013 at 45% and 44% respectively. Sales by Saudi Cement Company and Yamamah fell by 21% and 32% respectively.

Sales of clinker for the country's fifteen cement companies rose by 9% year-on-year to 4.75Mt in November 2013 from 4.35Mt in November 2012.

Demand for cement is so intense in Saudi Arabia that certain producers have reported production line shutdowns in dedicated stock market statements. Notably, industry newcomer Hail Cement reported a scheduled shutdown for late October/early November 2013, Al Jouf Cement reported unscheduled shutdowns in October and June 2013 and Najran Cement reported scheduled maintenance in July 2013. Even a short delay to cement production is a newsworthy event for both investors and analysts.

Saudi cement producers have risen to the infrastructure challenges of the country's Ninth Development Plan, increasing cement production by 6% year-on-year to 42.7Mt for the first nine months of 2013. In this febrile environment, the king ordered 10Mt of cement imports in April 2013 followed by government demands for producers to build up a two-month 'strategic' inventory reserve. Unsurprisingly, as we report this week, exports of cement from Saudi Arabia have fallen by 55% for the first nine months of 2013.

At the time of Global Cement's feature on Saudi Arabia in December 2012 only two of the country's cement producers had an inventory of joint clinker and cement stock meeting the government's stockpiling request. For the first nine months of 2013 the situation remains the same although the overall inventory has increased by 18% year-on-year to 10.3Mt. This compares to the end of 2012 where inventories fell year-on-year by 14% to 7Mt.

Unsurprisingly again, the Kingdom's major cement producers have seen balance sheets bulge so far in 2013. Yamama Cement reported a 12% year-on-year rise in net profit to US$145m for the first half of 2013 on the back of local demand. Saudi Cement Company reported a 5% year-on-year rise in its net profits to US$173m and Southern Province Cement saw a 4% year-on-year rise in its net profits to US$150m for the same period. Yanbu Cement saw its net profit rise by 29% year-on-year to US$176m for the first nine months of 2013.

With more large government infrastructure contracts pending, analysts expect the Saudi cement market to remain heated. Although as NCB Capital pointed out in September 2013, uncertainties over fuel supplies for coming cement plant expansions provide uncertainty to the situation. Nobody wants a repeat of the Yanbu - Aramco spat over fuel supplies that occurred in 2011. Irony would barely describe the situation if a Saudi Arabian cement boom was dented by a lack of fuel in one of the countries with the biggest oil reserves in the world.

Global Cement will be at stand T9 at the 18th Arab-International Cement Conference and Exhibition in Jordan from 11 – 13 November 2013

Saudi Arabia: The volume of cement exports fell by 55% to 245,000t in the first nine months of 2013, compared to 547,000t of exports in the same period of 2012. The Saudi cement firms imported around 39,000t of cement and 1,925,000t of clinker in the same period. During the first nine months of 2012, 399,000t of clinker was imported.

In April 2013 King Abdullah ordered 10Mt of cement imported to meet the growing demand due to the expansion of development projects and government-led infrastructure projects. Cement was exclusively exported by Saudi Cement Co. (SCC), the Eastern Province Cement Co. (EPCC) and Riyadh Cement Co. (RCC), whose exports reached 123,000t, 82,000t and 40,000t, respectively.

Saudi Arabia: Saudi Cement Company has reported a 5.9% year-on-year increase in its second-quarter net profit. It identified a rise in local demand for cement as among the reasons for the improvement.The company posted a second-quarter net profit of US$81.7m compared to US$77.3m in the same period in 2012. Net profit for the first six months of 2013 was US$172.5m, a 5% rise compared to the first half of 2012.

Meanwhile, Yanbu Cement Co's first-half net profit rose by 44.7% year-on-year to US$138.9m, thanks to higher production and sales volumes supported by the start of its kiln line No 5 in 2012.

Saudi Arabia: Saudi Cement Co has reported a 31.4% rise in its fourth quarter profit due to higher local demand, the company reported in a bourse statement. The cement producer made a net profit of US$74m in the fourth quarter of 2012 compared to US$56.4m in the same period in 2011. Its operating profit rose by 36.8% to US$80.2m from US$58.7m.

Saudi Arabia: Saudi Cement Company (SCC) has announced that its net profit for the six months to 30 June 2012 surged by 45% year-on-year, to US$164m from US$113m in the same period of 2011. The company attributed the increase to rising local demand. SCC's operating profit increased to US$166m for the first half of 2012 from US$118m in 2011.

Saudi Arabia: Southern Province Cement has reported a 9.6% rise in quarterly profits, citing the start-up a second production line at its Tahama plant and increased demand from local markets.

Saudi Arabia's biggest cement producer by market value posted a second-quarter net profit of US$69.9m for the quarter ending on 30 June 2012, compared with US$63.7m for the same period in 2011. However profit was down by 7.75% from the first quarter of 2012, when it was US$75.7m. The company attributed this to instruction by the ministry of commerce and industry decreasing the price that t it is able to sell cement at.

Meanwhile, Saudi Cement Co posted a net profit of US$77.4m for the second quarter, a rise of 36% year-on-year. It cited growing domestic demand for cement and clinker. The Saudi construction sector has been boosted over the past year by ramped-up government spending, including a pledge to build a quarter of a million new houses as well as schools and hospitals.

Saudi Cement Co's profit fell by 10.9% compared to the first quarter of 2012, when it was US$86.8m. The company blamed the decrease on a decline in sales.

Saudi Arabia: Saudi Cement Company (SCC) said that its net profit for the three months to 31 March 2012 surged by 54.4% year-on-year to US$86.8m from US$56.2m in the year to 31 March 2011.

The company attributed the increase to higher sales volumes as a result of rising local demand. Its operating profit increased to US$87.8m for the first quarter of 2012 from US$58.1m a year earlier.