Yamama’s net profit fell 60% in 2021 amid poor overall Saudi cement market

2022-06-09 0 By

The combined sales of the 17 Saudi cement producers fell 6 percent in January to 4.9 million tons from 5.2 million tons a year earlier, according to figures recently released by Yamama Cement.The total sales of 17 Saudi Cement producers fell 6 per cent to 4.9Mt in January,Compared to 5.2Mt in the same month last year, according to recent data issued by Yamama Cement Co.Locally, players in 13 markets reported lower sales, with the lowest being Northern Cement, down 60 percent from the same period last year.Next came Union Cement (UCIC), down 35% from the same period last year, followed by Joffe Cement, down 24%.Locally, 13 market players reported lower sales, led by Northern Region Cement Co with a 60 per cent YoY decline. It was followed by United Cement Industrial Co (down 35 per cent YoY), and Al-Jouf Cement Co, down 24 per cent YoY.North Cement, on the other hand, saw a relative increase in sales at four companies, including Yamama Cement, up 65%, Al-Safwa Cement, and Tabuk Cement, up 25% and 12%, respectively.On the other hand, four companies recorded higher sales, headed by Yamama Cement Co with a 65 per cent rise YoY. It was followed by Al-Safwa Cement Co and Tabuk Cement, Yamama Cement Factory new plant (under construction) A total of five enterprises exported 64,000 tons of cement in January.Saudi Arabia cement (SCC) ranked first in exports of 35,000 tons (according to Argaam).A total of six enterprises export clinker, Arab cement ACC export 101,000 tons ranked first.It was followed by North Cement and Saudi Cement SCC exporting 82,000 tons and 50,000 tons of clinker, respectively.Five companies exported 64,000t of cement in January. Saudi Cement Co led the way with 35,000t of exports,According to Argaam. Six companies exported Clinker in January. Arabian Cement Co was top with 101,000t of exportsWas followed by Northern Cement and Saudi Cement with 82,000 T, and 50,000 T respectively.According to recent stock exchange filings, clinker production in January 2021 was 4.6 million tons, and for the same period this year, clinker production increased by 6% to 4.86 million tons.By the end of January, the clinker inventory was down 3% from 3.597 million tons last year.The company generated sr735.84 million in revenue last year, down 23.02% from SR956 million in 2020.Clinker production grew by six per cent to 4.86Mt in the same month,Compared to 4.6Mt in January 2021. Clinker Mr Saw a decline of three per cent to 34.76Mt by January-end,Down from 35.97Mt a year earlier.The company generated revenues of SAR 735.84 million last year,Down 23.02% compared to SAR 956 million during 2020, according to a recent bourse filing. In 2021, Yamama Cement’s profit after tax was SR160.59 million,That’s down 60.39% from 405.54 million riyals a year ago.Yamama Cement Company’s net profits after Zakat and tax fell by 60.39% to SAR 160.59 million in 2021 from SAR 405.54million a year earlier.Yamama Cement generated revenues of 735.84 million riyals last year, down 23.02 percent from 956 million riyals in 2020.The company generated revenues of SAR 735.84 million last year, down 23.02% compared to SAR 956 million during 2020,According to a recent bourse filing.2021 revenue per share is finally 0.8, 2020 revenue per share is 2.The earnings per share settled at SAR 0.8 in 2021 versus SAR 2 in 2020.It is worth noting that yamama’s net profit after tax fell by 58% to Sr39.97 million in the third quarter of 2021 from SR95.31 million in the third quarter of 20.It is worth noting that in the third quarter (Q3) of 2021, The company’s net profits after Zakat and tax decreased by 58% to SAR 39.97 million from SAR 95.31 million in Q3-20.