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Riyadh Cement Co. — Capital/Financing Update 2024
Jan 30, 2024
53354_rns_2024-01-30_05a1d793-f63b-497e-a747-4f4163054578.html
Capital/Financing Update
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Further announcement from Riyadh Cement Co. in regards to receipt of notice of an adjustment in the prices of fuel products used in production
3092 · 30/01/2024 15:59:01 · Announcement #78031 · View on Saudi Exchange
Further announcement from Riyadh Cement Co. in regards to receipt of notice of an adjustment in the prices of fuel products used in production
| Element List | Explanation |
|---|---|
| Introduction | Further to Riyadh Cement Co. announcement published on Tadawul website on 21/06/1445 AH corresponding to 03/01/2024 AD regarding receipt of notice from Saudi Arabian Oil Co. (Saudi Aramco) amending the prices of fuel products used in cement production, the company would like to clarify the expected financial impact. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-01-03 Corresponding to 1445-06-21 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The company would like to clarify that the financial impact is expected to be around 24.7% increase in production cost, this increase is due to the type of Fuel used in production process with and Transporation cost of fuel and Raw Materials. The company will work during the coming period on exploring ways to reduce the impact of this amendment on the financial results. |
| Financial Impact on the change | The direct financial impact is expected to be around 24.7% increase in production cost. This impact is expected to appear starting from first quarter of the fiscal year 2024. |
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