Qassim Cement
| Name | Qassim Cement | |
| Sector | Manufacturing - Cement and allied products | |
| Trading | Tadawul | |
| RIC Code | 3040.SE | |
| Location | SAUDI ARABIA |
Profile and Background
Qassim Cement Company, which was established in 1976, is entirely owned by Saudi investors. The firm's major shareholders are the Saudi Public Fund, administered by the Finance Ministry, and the General Organization for Social Insurance (GOSI), which together hold about 37 per cent of the stock.
Despite being one of the smaller cement firms in the kingdom, Qassim Cement consistently out-performed some of its larger rivals in the early 1990s. Earnings rose steeply in 1992 and 1993 and advanced steadily until 1995, when it reached a record SR 156.
3 million ($41.7 million). However, flattening sales and production figures saw 1996 profits at the Buraidah-based firm fall by 5 per cent. The reason for this, according to the 1995 annual report, is that the November 1995 shut-down of one of the firm's two production lines for renovation and upgrading led to a 2 per cent fall in clinker production to 1.
2 million tonnes a year (t/y) in 1995. This was covered by a corresponding 2 per cent rise in sales to 1.3 million t/y. The project has been completed and is operational, but 1996 production figures reflected the line's inaction in the early part of the year.
General manager Khalid al-Mudaifar says that production capacity was expected to rise from 2,000 tonnes a day (t/d) to 2,500 t/d of clinker, which will lift total production capacity to 4,700 t/ d. The improvements to the line, which were carried out by France's FCB, are also designed to reduce dust emissions and be more energy-efficient, he added.
The hope is that a resultant fall in operating costs will combine with rising production to lift earnings to new record levels. Internal adjustments may not be the only factor affecting future profitability though.
Despite being one of the smaller cement firms in the kingdom, Qassim Cement consistently out-performed some of its larger rivals in the early 1990s. Earnings rose steeply in 1992 and 1993 and advanced steadily until 1995, when it reached a record SR 156.
3 million ($41.7 million). However, flattening sales and production figures saw 1996 profits at the Buraidah-based firm fall by 5 per cent. The reason for this, according to the 1995 annual report, is that the November 1995 shut-down of one of the firm's two production lines for renovation and upgrading led to a 2 per cent fall in clinker production to 1.
2 million tonnes a year (t/y) in 1995. This was covered by a corresponding 2 per cent rise in sales to 1.3 million t/y. The project has been completed and is operational, but 1996 production figures reflected the line's inaction in the early part of the year.
General manager Khalid al-Mudaifar says that production capacity was expected to rise from 2,000 tonnes a day (t/d) to 2,500 t/d of clinker, which will lift total production capacity to 4,700 t/ d. The improvements to the line, which were carried out by France's FCB, are also designed to reduce dust emissions and be more energy-efficient, he added.
The hope is that a resultant fall in operating costs will combine with rising production to lift earnings to new record levels. Internal adjustments may not be the only factor affecting future profitability though.
Shareholding Groups
| Individuals | N/A |
| Institutions | N/A |
| Floating | N/A |
| Government | 37% |
Board Members (Listed in alphabetical order)
| Chairman | Abdul Rahman Abdullah Al Faisal |
| Director | Abdullah Abdul Latif Al Saif |
| Director | Abdullah Al Faisal Al Saud |
| Director | Abdullah Al Faisal Al Saud |
| Director | Abdulmajeed Ibrahim Al Sultan |
| Director | Saleh Mohammed Al Suleim |
| Director | Saleh Mohammed Al Suleim |
Stock Performance
Market Information
| Stock | Saudi_Arabia Index | |
| Last Closing | SAR 155 | 3424.18 |
| YTD % |  1.436% |  0% |
| Weekly % | 3.758% | 5.55% |
| Year High | SAR 175.15 | 9083.39 |
| Year Low | SAR 114.34 | 3296.01 |
| 52 Week High | SAR 406.34 | 4532.55 |
| 52 Week Low | SAR 126.61 | 2983.01 |
| BETA | 0.6061 | |
| Outstanding Shares | 45,000,000 | |
| Market Cap | SAR 6,975,000,000 | |
| Market Cap in $ | USD $1,860,000,000 | |
| % of Saudi_Arabia Market | 0.57% | |
| % of Sector | 1.61% | |
| Rank by Cap | 28 |
Key Figures in '000 SAR
| 2004 | 2003 | 2002 | |
| Total Assets | 1,265,932 | 1,122,983 | 1,099,182 |
| Shareholder's Equity | 1,105,849 | 1,054,513 | 1,005,657 |
| NIAT | 246,376 | 243,876 | 233,021 |
| Dividends | N/A | 193,500 | 193,500 |
Financial Ratios
| 2004 | 2003 | 2002 | |
| Assets Growth | 12.73% | 2.17% | 3.87% |
| Earning Growth | 1.03% | 4.66% | 6.02% |
| ROaA | 20.63% | 21.95% | 21.60% |
| ROaE | 22.81% | 23.68% | 23.67% |
| No. Of Shares | 9,000,000 | 9,000,000 | 9,000,000 |
| EPS | 27.38 | 27.10 | 25.89 |
| EPS Growth | 1.03% | 4.66% | 6.02% |
| Payout Ratio | N/A | 79.343 | 83.04 |
Valuation Ratios
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| PE | |
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| Div Yield | |
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| EV/Equity |
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