Saudi brokerage firm Riyad Capital expects a 10 per cent year-on-year (YoY) increase in cement sales for the six Saudi-listed companies under its coverage in the first quarter of 2025, driven by stronger demand.

The average selling prices are expected to remain healthy, with total revenues anticipated to show a double-digit annual growth, the brokerage said in its first quarter 2025 preview. However, net income is expected to decline YoY, pressured by higher energy prices.

Yanbu Cement Company will see a maximum profit decline of 51 per cent YoY to SAR 29 million in the first quarter of 2025.

Net earnings of Southern Province Cement Company will drop by 42 per cent YoY to SAR 36 million, while Saudi Cement Company will fall by 13 per cent annually to SAR 99 million.

Riyadh Cement will post the highest possible net profit increase of 13 percent YoY to SAR79 million.

Qassim Cement Company is expected to report a net profit of 12 percent YoY to SAR 83 million during the first quarter. The brokerage clarified that the financials do not include Hail Cement Company’s results.

Finally, Yamama Cement Company’s net earnings will rise 5 percent annually to SAR 120 million.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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