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Saudi cement firms’ Q3 2019 aggregate profit tops estimates by 5%
The aggregate net profit of Saudi cement producers, amounting to SAR 568 million in Q3 2019, reported 5 percent higher than average estimates of SAR 541.4 million, data compiled by Argaam showed.
Three companies missed analysts’ forecasts, led by Saudi Cement Co., Southern Province Cement Co. and Al Yamama Cement Co., by 20 percent, 14 percent and 9 percent respectively.
Meanwhile, Hail Cement’s net earnings exceeded estimates by around 111 percent with net profit of SAR 7.60 million.
Arabian Cement Co. and Yanbu Cement Co. topped expectations by 41.3 percent and 16.9 percent, respectively.
Q3 2019 net profit of City Cement Co. and Najran Cement exceeded estimates by 18.6 percent and 271.9 percent, at SAR 50.52 million and SAR 14.13 million consecutively.
Company Estimates Comparisons
| Company | 2019 - Q3 (a) | 2019 - Q3 (e) | Change |
| QACCO | 90.17 | 81.54 | 10.6 % |
| SAUDI CEMENT | 83.02 | 98.48 | (15.7 %) |
| SPCC | 90.29 | 100.84 | (10.5 %) |
| YC | 54.73 | 59.98 | (8.7 %) |
| YCC | 61.94 | 53.96 | 14.8 % |
| ACC | 60.60 | 43.43 | 39.6 % |
| EPCCO | 36.45 | 28.57 | 27.6 % |
| CITY CEMENT | 50.52 | 44.55 | 13.4 % |
| HCC | 7.59 | 7.60 | (0.1 %) |
| NAJRAN CEMENT | 14.13 | 14.10 | 0.2 % |
| UACC | 18.94 | 18.90 | 0.2 % |
| Total | 568.38 | 551.94 | 3.0 % |
Actual Profit versus Estimates
| Company | 2019 - Q3 (a) | 2019 - Q3 (e) | Most Accurate Research Company |
| QACCO | 90.17 | 90.20 | OSOOL AND BAKHEET |
| SAUDI CEMENT | 83.02 | 83.00 | OSOOL AND BAKHEET |
| SPCC | 90.29 | 90.00 | OSOOL AND BAKHEET |
| YC | 54.73 | 54.70 | OSOOL AND BAKHEET |
| YCC | 61.94 | 61.30 | OSOOL AND BAKHEET |
| ACC | 60.60 | 60.60 | OSOOL AND BAKHEET |
| EPCCO | 36.45 | 36.00 | OSOOL AND BAKHEET |
| CITY CEMENT | 50.52 | 50.50 | OSOOL AND BAKHEET |
| HCC | 7.59 | 7.60 | OSOOL AND BAKHEET |
| NAJRAN CEMENT | 14.13 | 14.10 | OSOOL AND BAKHEET |
| UACC | 18.94 | 18.90 | 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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