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Yanbu Cement Company announces that it has received a notification from Saudi Aramco regarding the adjustment in the prices of fuel products used in production.
| Element List | Explanation |
|---|---|
| Announcement Detail | Yanbu Cement Company announces the receiving of notification from Saudi Aramco on 01/01/2025 regarding the adjustment in the prices of fuel products used in cement production, effective from 01/01/2025. The company wishes to clarify to its esteemed shareholders that this adjustment will have a financial impact that leads to an increase in production costs, which will be reflected in the financial results for the first quarter of 2025.The company is currently calculating the expected financial impact which will be announced upon the completion of its calculation. Furthermore, the company will exert its utmost efforts in the coming period to explore and study ways to mitigate the financial impact resulting from this adjustment. It is also worth noting that in 2024, the company joined the Industrial Competitiveness Program, which will contribute to reducing the financial impact and improving energy efficiency. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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