Displaying items by tag: Yanbu Cement

Saudi Arabia: Yanbu Cement was among successful bidders in Saudi Arabia's largest carbon credit auction to date earlier in November 2022. The Saudi Public Investment Fund (PIF)’s Voluntary Carbon Market Initiative Auction sold 1.4Mt-worth of carbon credits to 15 different entities, of which Yanbu Cement was the only cement sector representative. The PIF said that the sale will support the country's Saudi Vision 2030 development goal, while also advancing its progress towards net zero CO₂ emissions by 2060.

Saudi Arabia: Yanbu Cement’s sales recorded a 0.6% year-on-year decline to US$251m in 2021 from US$249m in 2020. Arab News has reported that the company’s net profit fell by 43% compared to 2021 levels.

Saudi Arabia: Cement output rose slightly to 53.7Mt in 2021 from 534Mt in 2021. Clinker output increased by 12% year-on-year to 55.1Mt from 49.2Mt. Cement exports fell by 32% to 1.44Mt from 2.13Mt but clinker exports grew by 50% to 6.73Mt from 4.50Mt. Saudi Cement remained the country’s largest clinker export but exports from Yanbu Cement and Arabian Cement grew sharply.

Saudi Arabia: Yanbu Cement has completed an upgrade project to Line 4 at its integrated plant. It previously, in April 2021, reported delays to the work due to difficulty obtaining spare parts. The cement producer says that the cost of the project remains unchanged.

Saudi Arabia: Yanbu Cement’s first-half sales were US$143m in 2021, up by 23% year-on-year from US$116m in the first half of 2020. Net profit fell by 11% to US$30.7m from US$34.5m. The company said that a local price drop and an increased cost of sales offset increased sales to yield the drop in profit.

Saudi Arabia: Yanbu Cement says that a two months modernisation project on Line 4 at its integrated Yanbu plant that was first reported in mid-February 2021 has been delayed. This has been caused by a hold up in receiving certain spare parts. The cement producer said that the financial impact would be limited to the increase in production costs only since the start of the shutdown date. It also stressed that sales would not be affected by the stoppage due to its existing clinker stocks.

Saudi Arabia: Yanbu Cement has started a two months modernisation project on Line 4 at its integrated Yanbu plant. The company said that dispatches would not be affected by the stoppage due to sufficient clinker stocks. Line 5, which represents 60% of the company's total capacity at the plant, will continue production at full capacity.

The cement producer reported that its sales fell by 4% year-on-year to US$251m in 2020 from US$260m in 2019. Its net profit after zakat and tax grew by 9% to US$74.9m from US$68.7m.

Saudi Arabia: Yanbu Cement has appointed Fahd Bin Soliman Al Rajhi as its chairman. Mohammed bin Abdullah Al-Khuraiji was appointed vice-president of the board of directors and Sharif Bin Abdul Karim Al-Itani was appointed as the secretary.