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Saudi cement firms’ Q4 2019 aggregate profit tops estimates by 16%
The aggregate net profit of Saudi cement producers, amounting to SAR 908.4 million in Q4 2019, was 16% higher than average estimates of SAR 780.9 million, data compiled by Argaam showed.
Nine companies topped analysts’ estimates led by Qassim Cement Co., Eastern Province Cement Co., Saudi Cement Co. and Southern Province Cement Co.
Meanwhile, Tabuk Cement Co., Umm Al Qura Cement Co. and City Cement Co. missed analysts’ estimates by 49%, 10% and 3%, respectively.
The table below indicates cement companies’ actual earnings compared to estimates by brokerage firms:
Company Estimates Comparisons
| Company | 2019 - Q4 (a) | 2019 - Q4 (e) | Change |
| QACCO | 144.09 | 107.26 | 34.3 % |
| SAUDI CEMENT | 143.60 | 118.94 | 20.7 % |
| SPCC | 161.78 | 133.00 | 21.6 % |
| YC | 77.80 | 72.38 | 7.5 % |
| YCC | 82.93 | 75.46 | 9.9 % |
| ACC | 73.63 | 74.43 | (1.1 %) |
| EPCCO | 66.49 | 55.87 | 19.0 % |
| CITY CEMENT | 65.90 | 58.25 | 13.1 % |
| TCC | 6.55 | 12.70 | (48.5 %) |
| HCC | 30.84 | 31.40 | (1.8 %) |
| NAJRAN CEMENT | 35.92 | 35.90 | 0.0 % |
| UACC | 27.10 | 27.10 | 0.0 % |
| Total | 916.62 | 802.68 | 14.2 % |
Five research firms have issued their estimates for cement companies’ earnings. Osool & Bakheet Investment Co.’s estimates were the closest to the actual results of 8 companies, followed by Aljazira Capital by 4 companies.
The table below indicates the closest estimates of cement companies’ Q4 2019 net profits to actual results:
Actual Profit versus Estimates
| Company | 2019 - Q4 (a) | 2019 - Q4 (e) | Most Accurate Research Company |
| QACCO | 144.09 | 144.10 | OSOOL AND BAKHEET |
| SAUDI CEMENT | 143.60 | 143.60 | OSOOL AND BAKHEET |
| SPCC | 161.78 | 162.00 | OSOOL AND BAKHEET |
| YC | 77.80 | 77.80 | OSOOL AND BAKHEET |
| YCC | 82.93 | 83.50 | OSOOL AND BAKHEET |
| ACC | 73.63 | 73.60 | OSOOL AND BAKHEET |
| EPCCO | 66.49 | 67.00 | OSOOL AND BAKHEET |
| CITY CEMENT | 65.90 | 59.70 | AlJazira Capital |
| TCC | 6.55 | 12.70 | OSOOL AND BAKHEET |
| HCC | 30.84 | 31.40 | OSOOL AND BAKHEET |
| NAJRAN CEMENT | 35.92 | 35.90 | OSOOL AND BAKHEET |
| UACC | 27.10 | 27.10 | OSOOL AND BAKHEET |
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MarketIndices
| TASI | 11,840.52 | (27.40) | (0.23 %) |
Company Indices
| ACC | 26.05 | (0.10) | (0.38%) |
| EPCCO | 33.65 | 0.15 | 0.44% |
| QACCO | 53.70 | (0.80) | (1.47%) |
| SAUDI CEMENT | 41.00 | (0.55) | (1.33%) |
| SPCC | 33.20 | (0.35) | (1.04%) |
| TCC | 12.40 | (0.32) | (2.53%) |
| YC | 31.40 | (0.35) | (1.11%) |
| YCC | 23.40 | (0.24) | (1.02%) |
| HCC | 11.62 | 0.02 | 0.17% |
| JOUF CEMENT | 10.20 | (0.02) | (0.20%) |
| NORTHERN CEMENT | 8.95 | 0.00 | 0.00% |
| NAJRAN CEMENT | 9.24 | (0.06) | (0.65%) |
| CITY CEMENT | 17.64 | 0.04 | 0.23% |
| UACC | 17.80 | 0.18 | 1.02% |
| RIYADH CEMENT | 32.45 | (0.25) | (0.77%) |
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