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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 | 10,484.59 | 34.32 | 0.33 % |
Stock Prices
| ACC | 21.21 | (0.55) | (2.52%) |
| EPCCO | 24.13 | (0.27) | (1.11%) |
| QACCO | 42.02 | 0.78 | 1.89% |
| SAUDI CEMENT | 34.46 | (0.04) | (0.12%) |
| SPCC | 22.00 | 0.15 | 0.69% |
| TCC | 9.30 | 0.04 | 0.43% |
| YC | 24.39 | 0.52 | 2.17% |
| YCC | 14.35 | (0.05) | (0.35%) |
| HCC | 11.62 | 0.02 | 0.17% |
| JOUF CEMENT | 6.57 | 0.04 | 0.61% |
| NORTHERN CEMENT | 7.36 | 0.01 | 0.14% |
| NAJRAN CEMENT | 6.63 | 0.02 | 0.30% |
| CITY CEMENT | 12.73 | 0.06 | 0.47% |
| UACC | 12.63 | (0.05) | (0.39%) |
| RIYADH CEMENT | 23.98 | 0.10 | 0.42% |
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