Challenging environment
Saudi cement makers are witnessing tough times due to the difficult context in the Saudi market lately. Q2 2017 sales have fallen by 45.9% to SAR269m vs. SAR499m in Q2 2016. Thus, the cement maker has seen its gross profit shrink by 57% compared to the same period one year earlier. The net income has also witnessed a tremendous decrease of 62.3% to stand at SAR94m vs. SAR249m. H1 2017 EPS dropped from SAR3.35 to SAR1.69 in H1 2017, a decrease of 49.5%.Saudi Cement is a cement production company based in the Kingdom of Saudi Arabia. Co.'s main and only activity is the manufacture and trade of cement and cement related products and investment in cement related fields. Co. is engaged in the operation of two cement plants in the Eastern Province of Saudi Arabia, namely the Hofuf Plant (total capacity of the plant is 7825 tons of clinker per day) and Ain Dar Plant (total of 6000 tons of clinker per day). Co.'s locations include Dammam, Hofuf (Hofuf Plant), Ain Dar (Ain Dar Plant) and Dammam Export (Export Terminal).
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