Saudi cement sales rise 16% in February: Aljazira Cap

Cement and clinker sales in Saudi Arabia rose 15.7 percent year-on-year (YoY) to 4.24 million tons (including exports) in February 2019 compared to 3.67 million tons in the previous year, Aljazira Capital said in a report on Sunday.

Clinker inventory increased 17.6 percent YoY, but fell 1 percent month-on-month (MoM) to 41.88 million tons last month. Cement dispatches, however, jumped 9.3 percent YoY.

Meanwhile, total utilization rate of Saudi cement sector declined to 52.8 percent in February compared to 61.4 percent in the same period last year, the report said.

Southern and Yamama Cement recorded the highest YoY increase in sales of 47 percent and 38.8 percent, respectively. On the other hand, Arabian Cement showed the highest decline of 46.1 percent YoY, while Yanbu Cement fell 44.5 percent YoY.

According to Aljazira Capital, Southern and Saudi Cement recorded the highest market share last month of 16 percent and 11 percent, respectively.

Saudi Cement recorded the highest enterprise value per ton (EV/ton) of SAR 1125.1, followed by Al Jouf Cement with EV/Ton of SAR 1022.5, the report noted.