Latest news with #RiyadhCables
Argaam
14-05-2025
- Business
- Argaam
Riyadh Cables has order book of 139,000 tons worth SAR 5.2B
Borjan Sehovac, CEO of Riyadh Cables Co., said the company holds a confirmed order book of 139,000 tons valued at SAR 5.2 billion — its highest ever level — which will support revenues over the next 12 to 18 months. In an analyst and investor call attended by Argaam, Sehovac said the production mix saw an increase in the share of aluminum, while the proportions of copper and aluminum remained stable compared to the same quarter in 2024. He noted that demand for high and extra-high voltage cables is driven by electricity interconnection projects and the transition to renewable energy, especially as 70% of solar power projects in Saudi Arabia rely on this type of cable. The trend remains strong in both Saudi Arabia and the region, the CEO said. Commenting on Q1 2025 financial results, Sehovac said the 52% profit increase was supported by a rise in sales volume and improved operational efficiency.
Zawya
12-03-2025
- Business
- Zawya
Riyadh Cables generates nearly $217.86mln profits in 2024
Riyadh – Riyadh Cables Group Company registered SAR 816.88 million in net profit at the end of December 2024, up 57.55% year-on-year (YoY) from SAR 518.49 million. Revenues climbed by 15.10% to SAR 9 billion last year from SAR 7.82 billion in 2023, according to the financial statements. The earnings per share (EPS) increased to SAR 5.46 in 2024 from SAR 3.46 a year earlier. Cash Dividends The company's board members recommended cash dividends valued at SAR 299.43 million, representing 20% of the capital, for the second half (H2) of 2024. Riyadh Cables will pay out a dividend of SAR 2 per share for 149.71 million eligible shares. In the first nine months (9M) of 2024, the order backlog of Riyadh Cables hit SAR 4.90 billion. Source: Mubasher
