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saudi arabian mining co (1211) Details

Saudi Arabian Mining Company (Ma'aden), together with its subsidiaries, engages in the exploration and mining of mineral properties in the Kingdom of Saudi Arabia. It operates through Phosphate, Aluminum, and Gold and Base Metals segments. The company primarily mines for gold, phosphate rock, bauxite, low-grade bauxite, kaolin, and magnesite, as well as copper, lead, zinc, and nickel. It principally holds interests in the Mahd Ad’ Dahab, Bulghah, Al-Amar, Sukhaybarat, As Suq, Ad Duwayhi, Al Jalamid, Az Zabirah, Al-Ghazallah, and Al Ba’itha mines. The company also produces aluminum and related products; and produces concentrated caustic soda, ethylene dichloride, and chlorine. Saudi Arabian Mining Company (Ma'aden) was founded in 1997 and is headquartered in Riyadh, the Kingdom of Saudi Arabia.

Founded in 1997

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saudi arabian mining co
Saudi Arabian Mining Co. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Saudi Arabian Mining Co. reported consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported net profit of SAR 356,467,375 against SAR 171,219,482 a year ago. Operational profit was SAR 807,595,166 against SAR 368,726,917 a year ago. The reasons for the increase in net profit was sales increased by 17% due to the increase in sales volumes of gold, ammonia and ammonium phosphate fertilizer (APF), and the increase of the average realized prices of aluminum by 24% and ammonium phosphate fertilizer (APF) by 7%, compared to the same quarter last year. The increase was also due to the group ongoing cost reduction initiatives, which led to the decrease in selling, marketing and logistic expenses by 18%. In addition, there was an increase in share of net profit from the jointly controlled entity (Maaden Barrick Copper Company). Net profit was negatively affected by a decrease in the average realized prices for ammonia and gold, an increase in other expenses, an increase in the exploration and technical services by 27% . Also an increase in the general and administrative expenses by 12%, and an increase in finance cost by 59% due to the commercialization of projects and an increase in SIBOR/LIBOR. Income from time deposits fell by 57%. For the six months, the company reported net profit of SAR 632,078,664 against SAR 365,522,506 a year ago. Operational profit was SAR 1,529,772,161 against SAR 706,120,082 a year ago. Earning or loss per share was SAR 0.54 against SAR 0.31 a year ago. The reasons for the increase in net profit was sales increased by 18% due to the increase in sales volume of ammonia, gold and ammonium phosphate fertilizer (APF), and the increase of the average realized prices of ammonium phosphate fertilizer (APF) by 2% and aluminum by 19% compared to the same period last year, despite the decrease in ammonia prices by 21%. Net profit benefited from the decline in selling marketing and logistic expense by 6%, but was reduced by an increase in the zakat expense by 95%, and an increase in income tax by 94%. Due to the commercialization of projects, the general and administrative expenses and finance cost increase by 21 and by 89% respectively. Also the increase in other expenses.

Saudi Arabian Mining Company (Ma'aden), Q2 2017 Earnings Call, Aug 01, 2017

Saudi Arabian Mining Company (Ma'aden), Q2 2017 Earnings Call, Aug 01, 2017

The Saudi Arabian Mining Company (Maaden) Approves Appointment of H.E. Sulaiman Bin Abdulrahman Al-Gwaiz as Vice Chairman for Board of Directors

The Saudi Arabian Mining Company (Maaden) announced the board of directors decision on June 21, 2017 of appointing H.E. Sulaiman Bin Abdulrahman Al-Gwaiz (non-executive member) as the vice chairman for the company's board of directors, effective from June 21, 2017 until the end of the current board's that ends on October 24, 2017, as per Maaden Article of Association.

 

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Valuation 1211 Industry Range
Price/Earnings 86.9x
Price/Sales 5.6x
Price/Book 2.2x
Price/Cash Flow 86.9x
TEV/Sales NM Not Meaningful
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