Qassim Cement Company (QCC) [3040.SE] signed an agreement to export 120k tonnes of cement to Kuwait. The agreement will be valid until the end of 2019, but the financial impact has not been disclosed yet. Although we take this news positively, the impact on Qassim’s financials will be limited as the export quantity agreed makes up only 4% of the company’s 2018 sales volume and c3% of the its total cement capacity. (Company disclosure, EFG Hermes estimates)
Qassim Cement: SAR39.70 as of 20 Mar. 2019, Rating: Buy, TP: SAR40.20/share, MCap: USD953mn, QACCO AB/3040.SE
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