Further announcement from City Cement Co. in regards to receipt of notice of an adjustment in the prices of fuel products used in production

Further announcement from City Cement Co. in regards to receipt of notice of an adjustment in the prices of fuel products used in production

25 February 2024 08:01 AM

Element List

Explanation

Introduction

Further to City Cement Co. announcement published on the Tadawul website on 21/06/1445 AH corresponding to 03/01/2024 AD regarding the 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 announces that the financial impact of the fuel increase prices is estimated to increase total costs in the range of 8% It should be noted that the company's investments in using alternative fuel and waste heat recovery system (WHR) had a positive impact by reducing the financial impact. The company would like to confirm that it is working to reduce the impact as much as possible

Financial Impact on the change

The direct financial impact is expected to be in the range of 8%increase in production cost. This impact is expected to appear starting from