Saudi cement producers have reported a combined Q2-2015 net profit of SAR 1.6 billion, which fell short of consensus forecasts of SAR 1.7 billion by 5 percent, market data compiled by Argaam showed.
Hail Cement’s Q2 net profit fell short of the average forecasts by 29 percent, and Tabuk Cement’s results missed consensus by 18 percent. Financial results of Arabian Cement Co. (ACC), City Cement Co., Southern Province Cement Co., Najran Cement Co., and Al Jouf Cement Co. for the second quarter of 2015 were below forecasts by 5-17 percent.
Meanwhile, Eastern Cement's Q2 profit topped the average forecasts by 13 percent. Yanbu Cement, Northern Region Cement Co. and Yamama Cement beat the average estimates by 1-3 percent.
|
Q2-2015 Net Profit/ Estimates (SAR mln) |
|||
|
Difference |
Estimate |
Net profit |
Company |
|
(29%) |
40.0 |
28.6 |
Hail Cement |
|
(15%) |
91.0 |
77.8 |
Najran Cement |
|
(5%) |
72.0 |
68.3 |
City Cement |
|
+3% |
62.0 |
64.0 |
Northern Region Cement |
|
(17%) |
195.0 |
161.9 |
Arabian Cement |
|
+1% |
189.0 |
191.4 |
Yamama Cement |
|
(9%) |
279.0 |
254.0 |
Saudi Cement |
|
-- |
168.0 |
168.1 |
Qassim Cement |
|
(6%) |
287.0 |
270.4 |
Southern Cement |
|
+3% |
238.0 |
245.5 |
Yanbu Cement |
|
+13% |
82.0 |
93.0 |
Eastern Province Cement |
|
(18%) |
33.0 |
26.9 |
Tabuk Cement |
|
(11%) |
30.0 |
26.8 |
Aljouf Cement |
|
(5%) |
1766.0 |
1676.6 |
Total |
Among Saudi research firms, Saudi Fransi Capital, Aljazira Capital, Bakheet Investment Group, Al-Rajhi Capital, NCB Capital, KSB Capital, and Alistithmar Capital released recommendations for the Saudi cement firms.
|
Saudi Research Firms’ Nearest Estimates (SAR mln) |
||||
|
Research Firm |
Difference |
Estimates |
Net Profit |
Company |
|
Saudi Fransi Capital |
+22% |
35.0 |
28.6 |
Hail Cement |
|
Bakheet |
+16% |
90.0 |
77.8 |
Najran Cement |
|
Bahkeet |
+2% |
70.0 |
68.3 |
City Cement |
|
Aljazira Capital |
(2%) |
63.0 |
64.0 |
Northern Region Cement |
|
Alistithmar Capital |
+13 |
183.0 |
161.9 |
Arabian Cement |
|
Al Rajhi Capital, NCB Capital, Saudi Fransi Capital |
(2%) |
188.0 |
191.4 |
Yamama Cement |
|
Al-Bilad Investment |
+5% |
266.0 |
254.0 |
Saudi Cement |
|
Al Rajhi Capital |
0.0% |
168.0 |
168.1 |
Qassim Cement |
|
NCB Capital |
+1% |
272.0 |
270.4 |
Southern Cement |
|
Al-Bilad Investment |
(0.2%) |
245.0 |
245.5 |
Yanbu Cement |
|
Saudi Fransi Capital |
(5%) |
88.0 |
93.0 |
Eastern Province Cement |
|
Saudi Fransi Capital |
+15% |
31.0 |
26.9 |
Tabuk Cement |
|
Saudi Fransi Capital |
+12% |
30.0 |
26.8 |
Aljouf Cement |
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