December 07, 2016 12:41 PM ET

Metals and Mining

Company Overview of Zamil Industrial Investment Company

Company Overview

Zamil Industrial Investment Company, together with its subsidiaries, engages in the design, engineering, manufacturing, and fabrication of construction materials, pre-engineering steel buildings, steel structures, air conditions, and climate control systems. The company offers process equipment, transmission and telecommunication towers, open Web steel joists, and roof and floor steel decks; construction products and building envelope materials, including sandwich panels; and engineering services and turnkey solutions for the supply and installation of the roof covering and wall cladding. It also provides air conditioning products, such as compact room air conditioners and mini splits; centr...

PO Box 14441

Dammam,  31424

Saudi Arabia

Founded in 1974

Phone:

966 13 810 8111

Fax:

966 13 810 8199

Key Executives for Zamil Industrial Investment Company

Zamil Industrial Investment Company does not have any Key Executives recorded.

Zamil Industrial Investment Company Key Developments

Zamil Industrial Investment Co. Announces Financial Results for the Third Quarter and Nine Months Ended September 30, 2016

Zamil Industrial Investment Co. announced financial results for the third quarter and nine months ended September 30, 2016. For the third quarter ended September 30, 2016, revenues were SAR 1,106.7 million against SAR 1,338.3 million for the same quarter of last year, a decrease of 17.3%. The net profit was SAR 40,098,000 against SAR 57,458,000 for the same quarter last year. Decrease in net profit was due to lower sales of core products in AC and Steel sectors attributable to project delays in Saudi as a result of general slowdown in the contracting business ecosystem. Decrease in net profit was also due to increase in financial charges, non-controlling interests, taxes and zakat. The operational profit was SAR 71,212,000 against SAR 86,217,000 for the same quarter last year. For the nine months ended September 30, 2016, revenues were SAR 3,751.7 million against SAR 4,036.1 million for the same quarter of last year, a decrease of 7.1%. The net profit was SAR 142,286,000 against SAR 205,553,000 for the same period last year. Decrease in net profit and operating margins were due to lower sales of core products in AC and Steel sector attributable to project delays in Saudi as a result of general slowdown in the contracting business eco system. Decrease in net profit was also due to increase in financial charges, non-controlling interests, taxes and reduction in other income and income from associate investments. The operational profit was SAR 247,880,000 against SAR 280,956,000 for the same period last year. The earnings per share were SAR 2.37 against SAR 3.43 for the same period last year.

Zamil Industrial Investment Company's Board Accepts the Appointment of Mr. Khalid Mohammed Al Fuhaid as Independent Board Member

Zamil Industrial Investment Co. announced that further to its announcement on 09-06-2016 on the demise of its member, HE Dr. Soliman A. Al Solaim, the Board of Directors on 02-10-2016 accepted the appointment of Mr. Khalid Mohammed Al Fuhaid as Board Member (Independent) with effect on 02102016. This appointment will be presented to the coming general assembly meeting for approval. Khalid M. Al Fuhaid is the Chairman and CEO of Mnafe3 Arabia Holding Prior to this he joined Midad Holding Company in 2006 bringing vast experience in metal works, manufacturing, and related technologies.

Zamil Industrial Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Zamil Industrial reported earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net profits of SAR 50,778,000 compared to SAR 74,361,000 a year ago. Operating profits were SAR 99,204,000 compared with SAR 97,246,000 a year ago. Decrease in net profit was due to lower sales of core products in AC sector attributable to project delays in Saudi as a result of general slowdown in the contracting business ecosystem. Decrease in net profit was also due to increase in financial charges, taxes and zakat and reduction in other income. For the six months the company reported net profits of SAR 102,188,000 compared to SAR 148,095,000 a year ago. Operating profits were SAR 176,668,000 compared with SAR 194,739,000 a year ago. Decrease in net profit and operating margins was due to lower sales of core products in AC sector attributable to project delays in Saudi as a result of general slowdown in the contracting business ecosystem. Decrease in net profit was also due to increase in financial charges and taxes and reduction in other income.

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