{"id":61655,"date":"2023-12-27T11:12:25","date_gmt":"2023-12-27T08:12:25","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=61655"},"modified":"2025-11-26T21:14:35","modified_gmt":"2025-11-26T21:14:35","slug":"%d8%aa%d9%88%d9%82%d8%b9%d8%a7%d8%aa-%d8%a8%d8%aa%d8%b9%d8%a7%d9%81%d9%8a-%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1-%d9%88%d9%85%d8%a8%d9%8a%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84%d8%a3%d8%b3%d9%85%d9%86%d8%aa-%d9%81","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/61655\/","title":{"rendered":"Saudi Arabia's cement prices and sales expected to recover in 2024"},"content":{"rendered":"

Al Jazeera Capital expects selling prices to recover Cement<\/a><\/strong> in the Saudi market in the medium term, coinciding with the end of the price war, indicating positive trends for the sector in the long term.<\/p>\n

A recent report by the research firm explained that housing construction activity has seen a decline due to a slowdown in the mortgage market and an increase in interest rates. Despite this, the implementation of large projects related to the Kingdom's Vision 2030 initiative has shown to ease the pressure on demand in this market.<\/p>\n

While most of these projects have yet to be awarded, they are expected to be adopted, along with government spending on capital projects, which is expected to be the main driver of cement demand in the coming years.<\/p>\n

Cement Sales Decline in 2023<\/strong><\/h4>\n

Al Jazeera Capital expects the volume of Cement sales<\/a><\/strong> in 2023 by 8%. At the same time, it expects it to increase in 2024 by 3%, as the implementation of major projects in the Kingdom accelerates. The company noted that there is pressure on cement prices in the central region - where many construction projects are being implemented - as a result of intense competition and increased inventory levels. This negatively impacted the companies' net profits during the second and third quarters of 2023.<\/p>\n

The pressure on prices is expected to gradually ease as more projects are awarded in different regions, outside the central region. This will contribute to increasing the volume of demand and diversifying construction sites in areas other than the central region. The company emphasized that a positive picture is expected for the cement sector. In the medium and long term.<\/p>\n

Cement companies' profits rise in 2024<\/strong><\/h4>\n

The company projected net profit in 2024 to increase by 21.1%, supported by a recovery in selling prices and an increase in sales volume. It also forecast revenue to increase by 6.1% compared to the previous year, supported by a 3% increase in sales volume. Price pressure is expected to ease from the fourth quarter of 2023.<\/p>\n

Despite the company's expectations of a price war in the central region, the intensity of the pressure was greater than expected. It also noted that Yamama Cement held a market share of 14.1% of total sales in the recent period. This was followed by Southern Cement with a market share of 10.9% and Saudi Cement with a market share of 9.6%.<\/p>\n

Al Jazeera Capital expects the sector's dividend yield to exceed that of other sectors, supported by strong cash flows and current market prices. It also expects the current valuation to be attractive for some stocks due to the recent decline in share prices and expectations of a performance recovery in 2024.<\/p>","protected":false},"excerpt":{"rendered":"

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