Cement producers are expected to post an average six percent growth in combined profits for the first quarter to nearly SAR 1.730 billion, compared to the same period last year, according to consensus estimates posted by several Saudi firms.
Eight out of 13 players are projected to generate higher profit.
Eastern Province Cement and Tabuk Cement will likely see profit drops of 46 percent and ten percent, respectively.
Yamama Cement and Saudi Cement are forecasted to report flat year-on-year earnings of SAR 175 million and SAR 286 million, respectively.
|
Comparison of Q1-2014 and Q1-2015 Profit Estimates |
||||
|
Change |
2015 profits |
2014 profits |
Number of Analysts |
Company |
|
+11% |
39 |
35.1 |
2 |
Hail Cement |
|
+64% |
88 |
53.7 |
2 |
Najran Cement |
|
+9% |
71 |
65.3 |
2 |
City Cement |
|
+30% |
79 |
60.8 |
1 |
Northern Region Cement |
|
+6% |
177 |
167.1 |
3 |
Arabian Cement |
|
-- |
175 |
175 |
7 |
Yamama Cement |
|
-- |
286 |
286 |
8 |
Saudi Cement |
|
+1% |
161 |
159 |
7 |
Qassim Cement |
|
+28% |
283 |
221 |
7 |
Southern Province Cement |
|
+20% |
246 |
205 |
8 |
Yanbu Cement |
|
(46%) |
85 |
157 |
2 |
Eastern Province Cement |
|
(10%) |
40 |
44 |
2 |
Tabuk Cement |
|
+6% |
1,730 |
1,629 |
Total |
|
Among Saudi research firms, AlJazira Capital issued the widest coverage on the sector with 11 companies. Albilad Capital tailed the list of research firms, issuing forecasts for only three cement producers.
The table below shows each firm’s profit forecasts for Q1:
|
Q1-2015 Estimates |
|||||||||
|
Estimates |
Bakheet |
Albilad Capital |
Alistithmar Capital |
KSB Capital |
NCB Capital |
Riyad Capital |
Aljazira Capital |
Al Rajhi Capital |
Company |
|
39 |
38 |
-- |
-- |
-- |
-- |
-- |
39 |
-- |
Hail Cement |
|
88 |
92 |
-- |
-- |
-- |
-- |
-- |
84 |
-- |
Najran Cement |
|
71 |
72 |
-- |
-- |
-- |
-- |
-- |
69 |
-- |
City Cement |
|
79 |
-- |
-- |
-- |
-- |
-- |
-- |
79 |
-- |
Northern Region Cement |
|
177 |
190 |
-- |
-- |
-- |
-- |
-- |
163 |
177 |
Arabian Cement |
|
175 |
176 |
168 |
183 |
-- |
186 |
178 |
181 |
152 |
Yamama Cement |
|
286 |
297 |
264 |
307 |
284 |
305 |
218 |
296 |
318 |
Saudi Cement |
|
161 |
163 |
-- |
161 |
164 |
163 |
160 |
163 |
152 |
Qassim Cement |
|
283 |
294 |
-- |
289 |
303 |
279 |
255 |
282 |
279 |
Southern Province Cement |
|
246 |
256 |
228 |
250 |
245 |
237 |
264 |
252 |
236 |
Yanbu Cement |
|
85 |
-- |
-- |
-- |
-- |
81 |
-- |
89 |
-- |
Eastern Province Cement |
|
40 |
43 |
-- |
-- |
37 |
-- |
-- |
-- |
-- |
Tabuk Cement |
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