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Sunday, December 6 - 2009

Gulf Cement

Name Gulf Cement
Sector Manufacturing - Cement and allied products
Trading ADX
RIC Code GCEM.AD
Location UAE

Profile and Background

Gulf Cement was established in May 1977 as a joint stock company to facilitate the manufacture of cement and cement products. It presently commands a 15% market share in the UAE domestic cement sector, producing at a total capacity of 1.

6 million tons per annum. Most of the produced cement is consumed in the local market, while a marginal amount is sold to neighboring countries. In light of the recent surge of demand for cement products in the UAE and the GCC region, the company is currently undergoing an expansion of its clinker and cement production capacity.

The company supplies Ordinary Portland Cement, Sulphate Resisting Portland Cement, and Moderate Sulphate Resisting Cement - all produced in conformance with British and American standards. In addition, the Gulf Cement Company is equipped to grind and sell pulverized slag as Ground Granulated Blast Furnace Slag (GGBS) and Portland Blast Furnace Cement (PBFC).

In an effort to reduce costs of production, Gulf Cement owns and operates its own power station, comprised of an Industrial Gas Turbine generating 26 MW of power supply for its operations. Links to the public power grid are in place to meet any excess power requirements.

Shareholding Groups

Individuals N/A
Institutions N/A
Floating N/A
Government 20%

Board Members (Listed in alphabetical order)

Stock Performance

Gulf Cement Stock Performance

Market Information

Stock UAE Index
Last Closing AED 10.25 5339.64
YTD % 62.03% 81.7%
Weekly % -2.844% -0.08%
Year High AED 11.95 5771.11
Year Low AED 6.326 2938.78
52 Week High AED 11.95 5771.11
52 Week Low AED 5.19 1639.31
BETA 4.7365
Outstanding Shares 357,276,499
Market Cap AED 3,662,084,115
Market Cap in $ USD $997,055,219
% of UAE Market 0.62%
% of Sector 32.08%
Rank by Cap 28

Key Figures in '000 AED

2003 2002 2001
Total Assets 473,416 403,364 380,683
Shareholder's Equity 374,318 354,679 343,936
NIAT 67,757 10,743 -4,503
Dividends 24,059 7,218 12,030

Financial Ratios

2003 2002 2001
Assets Growth 17.37% 5.96% -6.30%
Earning Growth 530.73% 0.00% 0.00%
ROaA 15.46% 2.74% 0.00%
ROaE 18.59% 6.06% 0.00%
No. Of Shares 240,590,235 240,590,235 240,590,235
EPS 0.28 0.04 0.00
EPS Growth 530.73% 0.00% 0.00%
Payout Ratio 35.508 67.187 -267.144

Valuation Ratios

Trailing
PE 54.05
PB 9.78
DVPS 0.07
Div Yield 0.66%
EV 721,770.71
EV/Equity 1.93
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