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Saudi cement firms Q2 profit seen to drop 52%
13/07/2017
Argaam Exclusive
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Saudi cement companies are expected to post a combined net profit of SAR 620.2 million, down 51.7 percent year-on-year (YoY) in Q2 2017, data compiled by Argaam showed.
Tabuk Cement is seen making the biggest profit slump of 81 percent YoY to SAR 4 million.
Hail Cement is forecasted to report a profit decline of 72.9 percent YoY to SAR 7.50 million.
Northern Province Cement is also projected to post a 71.2 percent plunge in profit YoY to SAR 14 million.
| Company | No. of Analysts | 2016 - Q2 (net income) | 2017 - Q2 (e) | Difference |
| SAUDI CEMENT | 10 | 249.46 | 137.95 | (44.7 %) |
| YC | 10 | 116.29 | 53.30 | (54.2 %) |
| QACCO | 9 | 113.90 | 65.76 | (42.3 %) |
| YCC | 9 | 159.23 | 92.87 | (41.7 %) |
| SPCC | 8 | 267.98 | 94.44 | (64.8 %) |
| ACC | 6 | 141.00 | 71.10 | (49.6 %) |
| EPCCO | 4 | 47.33 | 41.43 | (12.5 %) |
| CITY CEMENT | 2 | 64.16 | 29.90 | (53.4 %) |
| TCC | 1 | 21.08 | 4.00 | (81.0 %) |
| HCC | 1 | 26.84 | 7.50 | (72.1 %) |
| JOUF CEMENT | 1 | 22.74 | 8.00 | (64.8 %) |
| NORTHERN CEMENT | 1 | 48.66 | 14.00 | (71.2 %) |
| Total | 10 | 1,278.66 | 620.23 | (51.5 %) |
EFG-Hermes has issued forecasts for 11 cement producers, while Albilad Capital issued estimates for three companies.
Estimates per Analyst
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Market Index
| TASI | 11,603.29 | (23.31) | (0.20 %) |
Stock Prices
| ACC | 26.05 | (0.05) | (0.19%) |
| EPCCO | 34.40 | (1.30) | (3.64%) |
| QACCO | 52.60 | (0.30) | (0.57%) |
| SAUDI CEMENT | 44.40 | (0.30) | (0.67%) |
| SPCC | 31.25 | (0.40) | (1.26%) |
| TCC | 12.52 | 0.00 | 0.00% |
| YC | 36.00 | 0.00 | 0.00% |
| YCC | 22.02 | (0.04) | (0.18%) |
| HCC | 11.62 | 0.02 | 0.17% |
| JOUF CEMENT | 10.12 | (0.24) | (2.32%) |
| NORTHERN CEMENT | 8.94 | (0.05) | (0.56%) |
| NAJRAN CEMENT | 8.49 | 0.01 | 0.12% |
| CITY CEMENT | 19.92 | (0.12) | (0.60%) |
| UACC | 17.92 | (0.06) | (0.33%) |
| RIYADH CEMENT | 33.80 | 0.00 | 0.00% |
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