Latest news with #ZamilIndustrial
Argaam
21-05-2025
- Business
- Argaam
Sales orders, strong demand likely to spur Zamil's Q2 growth: CEO
Zamil Industrial Investment Co. 's expanding sales orders and ongoing strong demand for its integrated solutions are seen to underpin its positive momentum through the second quarter of this year, paired with firm commitment to a profitable growth approach, said CEO Ahmed Zaatari. In an interview with Argaam, Zaatari pointed to Zamil's robust financial performance in Q1 2025. Key drivers included revenue growth and improved gross profit margins across all four business segments, which helped boost production capacity and factory efficiency. Demand for the company's products and services, according to the CEO, remains robust, with all four segments recording double-digit hikes in revenues and gross income. Further, sales orders maintained their upward trajectory, underscoring Zamil's market growth and diversified customer base. Moreover, the company's operating profit margin rose to 4.6% in Q1 2025, compared to 1.6% in Q1 2024, reflecting significant improvement in operational efficiency, he added. 'We are satisfied with the financial performance for Q1 2025, which aligns with our strategic direction — adopted since 2024 — towards profitable growth. This affirms the company's aptitude for sustainable growth and transforming market opportunities into added value for both shareholders and the national economy,' the CEO said. Additionally, strengthening working capital is a key pillar in the company's operational strategy. Efforts are underway to accelerate client collections, while reducing inventory levels without affecting raw materials' availability or production plans. This is in addition to negotiating more favorable payment terms with suppliers and extending credit terms to customers in order to maintain balance between growth and liquidity, the top executive further stated. He also pointed out that these measures have begun to yield positive results, represented in lower inventory levels and receivables despite ongoing revenue growth. As for Zamil's plan to amortize accumulated losses, Zaatari confirmed that the company managed to slash accumulated losses by 46% in the first quarter of 2025, compared to the same period last year. 'We will continue to trim accumulated losses through sustained profitability, backed by improved margins and lower financing costs,' he added.
Arab News
15-05-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 11,485
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Thursday, losing 46.95 points, or 0.41 percent, to close at 11,485.05. The total trading turnover of the benchmark index was SR5.28 billion ($1.40 billion), as 61 of the stocks advanced and 179 retreated. Similarly, the Kingdom's parallel market Nomu lost 46.12 points, or 0.17 percent, to close at 27,841.06. This comes as 32 of the listed stocks advanced while 43 retreated. The MSCI Tadawul Index lost 4.40 points, or 0.30 percent, to close at 1,462.76. The best-performing stock of the day was Miahona Co., whose share price surged 10 percent to SR24.86. Other top performers included National Gypsum Co., whose share price rose 4.90 percent to SR21 as well as Saudi Manpower Solutions Co., whose share price surged 3.09 percent to SR7.01. Zamil Industrial Investment Co. recorded the most significant drop, falling 10 percent to SR43.20. Arabian Contracting Services Co. also saw its stock prices fall 8.21 percent to SR125.20, while Retal Urban Development Co. also saw its share value decline 6.98 percent to SR15.72. On the announcements front, Saudi Awwal Bank has completed the offering of its USD-denominated Additional Tier 1 Green Sukuk, valued at $650 million. According to a statement on Tadawul, the total number of sukuk issued stands at 3,250, based on a minimum denomination and total issue size at a par value of $200,000 each. The sukuk offers a return of 6.50 percent and features perpetual maturity. Saudi Awwal Bank ended the session at SR34.40, up 1.31 percent. Bank Albilad has announced the commencement of its offering for a USD-denominated Additional Tier 1 Capital Sukuk. According to a bourse filing, the final amount and terms of the sukuk will be determined at a later stage, subject to prevailing market conditions. The offering period runs from May 15 to May 16. The minimum subscription is set at $200,000, with additional increments of $1,000, based on a par value of $200,000. The bank has appointed HSBC Bank plc, Albilad Capital, Goldman Sachs International, and Emirates NBD Bank PJSC as joint lead managers for the issuance. Bank Albilad ended the session at SR27.10, up 0.19 percent. Emaar, The Economic City has announced its interim financial results for the first three months of 2025. According to a Tadawul statement, the company reported a net loss of SR123 million in the period ending March 31, down 65 percent compared to the corresponding quarter a year earlier. This decrease in net loss is primarily attributed to an increase in revenues, a decrease in operational expenses, and reversal of ECL provision following a reassessment compared to the recorded provision in the corresponding quarter. Emaar, The Economic City ended the session at SR13.50, down 1.02 percent. Zamil Industrial Investment Co. reported a net profit of SR21.8 million for the first quarter of 2025, marking a 301 percent increase compared to the same period last year, according to a bourse filing. The sharp rise in earnings was driven by higher sales across all business segments, along with increased operating income in the air conditioning, construction, and insulation divisions. The company also benefited from improved contributions from associates and joint ventures, as well as reduced financial charges.
Zawya
15-05-2025
- Business
- Zawya
Mideast Stocks: Major Gulf markets varied as oil oversupply fears loom
Saudi Arabia's benchmark stock index ended slightly lower on Thursday, weighed down by a fall in oil prices on expectations for a U.S.-Iran nuclear deal, while a surprise build in U.S. crude oil inventories last week heightened investor concerns about oversupply. Oil prices are a catalyst for the Gulf's financial markets. Brent crude futures were down $1.98, or 3%, to $64.11 a barrel at 1217 GMT. Earlier this week, investors were met with a wave of optimistic developments — from a breakthrough in the U.S.-China trade tensions to a series of high-profile investment agreements in the Middle East during U.S. President Donald Trump's Gulf visit. But the enthusiasm faded on Thursday, with MSCI's broadest index of Asia-Pacific shares outside Japan inching 0.15% lower and Wall Street futures 0.5% weaker. However, performance across Gulf stocks varied on Thursday. A 10% drop in construction material maker Zamil Industrial dragged Saudi Arabia's benchmark index lower by 0.41%. Dubai's main share index closed up 0.73%, supported by a 4.6% jump in toll gates operator Salik Company. In Abu Dhabi, the benchmark index settled up 0.04%, while Qatar's benchmark stock index closed down 0.18%. Outside the Gulf, Egypt's blue-chip index, extended gains to a fourth straight session, closing up 0.36%. down 0.41% SAUDI ARABIA to 11,485.05 rose ABU DHABI 0.04% to 9,625.19 rose 0.73% DUBAI to 5,398.77 down 0.18% QATAR to 10,574.59 up 0.36% EGYPT to 31,941.15 rose 0.03% BAHRAIN to 1,920.771 rose 0.30% OMAN to 4,410.22 rose 0.02% KUWAIT to 8,756.47 (Reporting by Chandini Monnappa and Rishab Shaju in Bengaluru; Editing by Shailesh Kuber)
Arab News
13-05-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in green at 11,532
RIYADH: Saudi Arabia's Tadawul All Share Index extended its upward momentum for the second consecutive day, gaining 43.62 points, or 0.38 percent, to close at 11,532.27. The total trading turnover of the benchmark index reached SR5.37 billion ($1.43 billion), with 120 listed stocks advancing and 121 declining. The Kingdom's parallel market Nomu also closed higher, rising 585.86 points to end at 27,928.99. Meanwhile, the MSCI Tadawul Index edged up 0.41 percent to close at 1,474.55. The best-performing stock on the main market was Saudi Arabia Refineries Co., whose share price jumped 9.85 percent to SR65.80. Zamil Industrial Investment Co. also saw gains, with its stock rising 7.73 percent to SR47.40. ARTEX Industrial Investment Co. recorded a 4.35 percent increase, closing at SR13.44. On the other hand, Gulf General Cooperative Insurance Co. saw its share price decline by 6.45 percent to SR7.11, making it one of the worst performers of the day. On the announcements front, Al-Babtain Power and Telecommunication Co. reported a net profit of SR88.2 million for the first quarter of 2025, a 6.77 percent increase compared to the same period last year. The company attributed the rise to improved productivity, cost reductions, and stronger profit margins. Its share price rose 1.45 percent to SR49. Tabuk Cement Co. posted a 28.35 percent year-on-year decline in net profit for the first quarter, reaching SR13.04 million. In a statement to Tadawul, the company cited a decrease in sales and other income as the primary reasons for the drop. Its stock fell 0.50 percent to SR11.90. Riyadh Cement Co. reported a net profit of SR75.68 million for the first quarter, up 7.95 percent from the same period a year earlier, driven by increased sales volume and higher average selling prices. Its share price rose 0.45 percent to SR33.35. Arabian Drilling saw its net profit plunge 48.63 percent year on year to SR75 million in the first quarter. Its stock declined 1.78 percent to SR82.90. Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, reported a net profit of SR1.8 million for the first quarter, reversing a net loss of SR151.7 million in the same period last year. The company credited favorable seasonal dynamics and a continued focus on operational efficiency for the turnaround. Cenomi Retail's share price rose 2.71 percent to SR15.94. Al-Jouf Agricultural Development Co. reported a net profit of SR34.65 million in the first quarter, up 5.26 percent year on year. Its share price increased 1.76 percent to SR49.15.
