Al -zamil Saudi Industry: The Profit Long Help The Debt Payment Plan

The high profits of the Saudi -“Al -Zamil” business contribute to the implementation of its plans related to the payment of debt, most of which have been related to the debt it inherited in the air conditioning sector four years ago, according to CEO Ahmed Al -Haatari. He added in an interview with “Al -Sharq” that the company started paying its debt two and a half years ago, emphasizing that the company still pays the share of every quarter of a year. He pointed out that the air conditioning sector, which influenced the company, was eventually turned into profitability during the coming period, which “is” the company that makes the debt of its debt from the profits of its activities. ” The profits of “Al -Zamil for Industry” have multiplied more than 3 times in the second quarter to record 25.3 million Riyale, due to sales growth by 9.2% to about 1.46 billion Riyal, and increased operating profit in air conditioning, iron and insulating materials sectors, according to a statement of the Saudi stock market “. Zaatari expected the continuation of the strong performance of the rest of the year based on the accumulated orders, the company’s plans to increase its operational efficiency and the optimal exploitation of capital. Zaatari explained that 80% of the enterprise revenue comes from the local market, while foreign markets contribute to the remaining. He said that 48% of the turnover comes from the steel sector, while the air conditioning sector contributes 24%, construction with 19% and 9% for isolation activities. He revealed that the company’s strategy to continue the strong results depends on increasing performance in all operations of the business, from manufacturing to supply chains, in addition to the state on automation and robots, and noticed that “Zamil for industry” focuses on the construction work on clients who have strong financial liquidity, and that it will protect it from the past. Regarding the hedging of the business of the fluctuation of material prices, Al -Hatari said that the company is not hedged by the purchase but by establishing strategic relationships with suppliers, enabling it to handle price fluctuations up and down. He expected steel prices to fall during the upcoming period, but at a slower rate, pointing out that ‘Al -Zamil for the industry’ uses the strategy to increase production to ease the impact of low prices.