Zamil Steel Pre-Engineered Buildings Co. Ltd. has been awarded a contract to supply pre-engineered steel buildings for one of the Sultanate of Oman’s largest poultry projects.

The scope of the contract includes the design, fabrication and supply of more than 130 pre-engineered steel buildings, spread over a built-up area of approximately 257,000 m2, to be used as poultry broiler houses for the A’Namaa Poultry Company project in the Dhahirah region in northern Oman.

“We are happy to be selected for this prestigious project in Oman. We are confident that the results will satisfy our client and match or exceed the standards that have built our reputation for quality, efficiency and innovation across the region,” said Mohammed Al Sahib, Vice President of Zamil Steel.

The A’Namaa Poultry Company project is expected to be one of the largest for the production of white meat in the Sultanate, with investments of RO 100 million. The project will contribute to the replacement of imports of white meat, producing 60,000 tons of fresh and frozen poultry meat annually.
Zamil Air Conditioning & Refrigeration Services Co. Ltd. (Zamil CoolCare) has signed a distribution agreement with IMI Hydronic Engineering (IMI HE), a global engineering group focused on the precise control and movement of fluids.

Under the agreement, Zamil CoolCare will market and distribute IMI HE’s products and systems (IMI TA, IMI Pneumatex, IMI Heimeier and IMI FDI), including balancing valves, control valves, pressure maintenance devices, expansion vessels, and water quality products, in the Kingdom of Saudi Arabia.

The distribution agreement expands Zamil CoolCare’s products and service offerings to better meet the needs and requirements of its Saudi-based customers by offering a wide range of high-quality hydronic control products, systems and engineered solutions from the IMI HE group.

There is high demand for precise control over energy transfer through fluid movements in HVAC systems. Zamil CoolCare’s trained and highly-qualified sales force, located in the company’s offices and showrooms across the Kingdom, together with IMI HE’s local and international engineering experts, will provide the best solutions to save energy, provide stable flow control, and lower the downtime of commercial and industrial HVAC hydronic applications.

The 44 years of trust that Zamil has built in its products and services will be reinforced, thanks to this addition of IMI HE’s high-quality products and systems expertise. This will further support Zamil’s position in Saudi Arabia as the main player in energy efficiency and hydronic performance.

IMI Hydronic Engineering is part of IMI plc, a global engineering group based in London. The company specializes in hydronics, providing flow control solutions for critical applications and delivering technologies for operational and energy-efficient water-based cooling and heating systems.

Zamil Air Conditioning & Refrigeration Services is a key product and services provider in Saudi Arabia’s industrial expansion. The company specializes in creating customized solutions for all types of complex operations. It is uniquely positioned to meet the needs of clients in a timely and cost-effective manner.
Zamil Air Conditioning & Refrigeration Services Co. Ltd. (Zamil CoolCare) has signed a master reseller agreement with Siemens, a global engineering conglomerate with considerable market share.

Under the agreement, Zamil CoolCare will market and distribute Siemens’ control products and systems, including controllers, thermostats, actuators, sensors, valves, and frequency drives, in the Kingdom of Saudi Arabia. The agreement also allows the company to appoint additional resellers to market the Siemens products and solutions specified in the agreement.

The reseller agreement expands Zamil CoolCare’s product and service offerings, to better meet the needs and requirements of its Saudi-based customers by offering a wide range of high-quality control products and systems from Siemens.

Zamil will work hand in hand with Siemens to solve clients’ problems and issues and to satisfy their need for smooth, uninterrupted operations. Zamil CoolCare’s trained and highly qualified sales force, located in the company’s offices and showrooms across the Kingdom, will be able to respond promptly to customers’ demands and technical queries on control products and systems.

Zamil has built its clients’ trust in its products and services over a period of 44 years, and will continue to do so by expanding its range of high-quality products and technical know-how on control systems. This will position the company for future developments towards smarter cities, as targeted by the Saudi Vision 2030.   

Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role.

Zamil Air Conditioning & Refrigeration Services is a key product and service provider in Saudi Arabia’s industrial expansion. Since the company specializes in creating customized solutions for all types of complex operations, it is uniquely positioned to meet the needs of clients in a timely and cost-effective manner.
Zamil Air Conditioners participated as the main sponsor of the “Etqan Al Sharqiya 2018” conference, which was organized by the Saudi Society for Quality in the Eastern Province, on November 7, 2018, during World Quality Month at the Holiday Inn Hotel in Al-Khobar.

During the conference, Zamil Air Conditioners presented its recognized experience in improving the quality of its products and services, as well as its experience with the implementation of kaizen principles for continuous improvement in quality, technology, and processes.

The conference included the presentation of working papers and discussion sessions, during which several governmental and national institutions reported their experiences and perspectives on the implementation of quality systems and operational excellence.

Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 30 September 2018.

Revenues for the third quarter of 2018 amounted to SAR 1,074.2 million (USD 286.4 million), compared with SAR 1,022.9 million (USD 272.8 million) for the same period in 2017, an increase of 5.0 percent.

Gross profits for the third quarter were SAR 163.3 million (USD 43.5 million), compared with SAR 195.2 million (USD 52 million) for the same period in 2017, a decrease of 16.3 percent.

Operating profits for the third quarter were SAR 6.9 million (USD 1.8 million), compared with SAR 41.1 million (USD 10.9 million) for the same period in 2017.

Net loss for the third quarter of 2018, after deduction of Zakat and tax, was SAR 22.6 million (USD 6.0 million), compared with a net profit of SAR 21.9 million (USD 5.8 million) during the same period in 2017, and compared with a net loss of SAR 39.8 million (USD 10.6 million) posted in the previous quarter (Q2 2018).

Total comprehensive loss for the third quarter of 2018 amounted to SAR 20.1 million (USD 5.4 million), compared with a comprehensive income of SAR 21.5 million (USD 5.7 million) in the corresponding quarter of 2017, and compared with a comprehensive loss of SAR 47.7 million (USD 12.7 million) in the previous quarter.

Revenues for the nine-month period ending 30 September 2018 amounted to SAR 3,105.1 million (USD 828 million), compared with SAR 3,146.4 million (USD 839 million) for the same period in 2017, a decrease of 1.3 percent.

Gross profits for the nine months were SAR 496.6 million (USD 132.4 million), compared with SAR 638.8 million (USD 170.3 million) for the same period in 2017, a decrease of 22.3 percent.

Operating profits for the nine months were SAR 43.3 million (USD 11.5 million), compared with SAR 170.5 million (USD 45.5 million) for the same period in 2017, a decrease of 74.6 percent.

Net loss for the nine-month period ending 30 September 2018, after deduction of Zakat and tax, was SAR 46.8 million (USD 12.5 million), compared with a net profit of SAR 100.2 million (USD 26.7 million) for the same period in 2017.

Total comprehensive loss for the nine months amounted to SAR 55.2 million (USD 14.7 million), compared with a comprehensive income of SAR 105.8 million (USD 28.2 million) in the corresponding period of 2017.

Loss per share for the nine-month period ending 30 September 2018 was SAR 0.78, compared with earnings per share of SAR 1.67 during the same period in 2017.

Equity attributable to shareholders (after eliminating minority interest), as of 30 September 2018, amounted to SAR 1,539.4 million (USD 410.5 million), compared with SAR 1,666.3 million (USD 444.3 million) as of 30 September 2017, a decrease of 7.6 percent.

Net loss for the third quarter of 2018 was due to a reduction in gross profit margins across all sectors because of an increase in input costs and pressure on selling prices due to severe competition. Net loss is also attributed to higher financial charges and a reduction in other income and income from associate investments.

Reduction in net loss for the third quarter, when compared with the second quarter of this year, was due to better gross profit margins in the AC Sector and higher domestic revenues. Net loss was also lower due to a reduction in Zakat and taxes and gain from discontinued operations.

Net loss for the nine-month period ending 30 September 2018, when compared with the same period in 2017, was due to a reduction in gross profit margins across all sectors because of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also attributed to higher financial charges and a reduction in other income and income from associate investments.

The external auditors have reviewed the financial statements and issued an unmodified report.

Comparative figures have been reclassified to conform to the presentation in the current period.
Zamil Industrial Investment Co. (Zamil Industrial) received the “K2 Workflow Hero Award” at the recent K2 Business Process Automation Awards Ceremony, which was held at Gitex Technology Week 2018 in Dubai, UAE.

The awards, bestowed for the second time this year, recognize organizations that have delivered and implemented world-class solutions to digitalize and otherwise improve their business processes. The awards honor the outstanding achievements of some of the Middle East’s organizations and teams who have most strongly driven innovation and delivered outstanding results using the K2 platform in the last 12 months.

Zamil Industrial received this award because of the company’s drive to become knowledgeable ambassadors and internal champions for business process automation on the K2 platform. The effective use and early adoption of K2 Workflows has enabled the platform to become a core product in increasing employee productivity and efficiency, reducing costs, providing access to reliable customer services, and forming a solid foundation to support future growth.

K2 Workflows provides customers a faster, easier way to create forms for business applications. Reusable components can be dragged and dropped into place, and then the form can be tied to workflow.

The award honors Zamil Industrial’s efforts to implement process automation throughout the company for the benefit of its business, its employees, and its valued customers. The company will continue its dedication to making the most of the latest technological solutions.
Zamil Steel Construction Company (ZSCC) was awarded a contract valued at SAR 13.9 million (USD 3.7 million) by Saudi Constructioneers Ltd. The contract is for the Riyadh Rapid Bus Transit System (BRT) project in the central region of Saudi Arabia.

According to the agreement, ZSCC will supply and erect more than 1,600 metric tons of high-strength structural steel with intumescent and cementitious fireproof coatings, including checkered plates with protective coatings. The BRT project is part of the King Abdulaziz Public Transport System Project owned by the Arriyadh Development Authority in Saudi Arabia.

This project is a fast-track undertaking comprising many components. It will require an extraordinary level of attention to detail due to complex safety and security requirements that must be satisfactorily completed within a challenging time frame.

In both function and design, this system is envisioned to complement the Riyadh Metro. It will provide unique and identifiable stations for the BRT, while completing the family of transportation facilities for the city of Riyadh. Utilizing developments such as exclusive lanes, off-board fare payment and platform-level boarding, the well-planned and precisely delivered BRT system with clean buses will provide metro-quality service at a fraction of the cost. These cost savings and efficiency gains are expected to result in an enormous shift from private car use to public transportation systems.
Zamil Central Air Conditioners Company was awarded a contract from Aluminium Bahrain B.S.C. (Alba) to supply and install various packaged units at Alba’s premises in Bahrain.

According to the agreement, Zamil Central Air Conditioners will supply and install 20 highly customized rooftop packaged units at Alba’s e-rooms across seven separate buildings.

The project is a fast-track undertaking that includes many components. It will require an extraordinary level of attention to detail, while ensuring the installations are satisfactorily completed within a challenging time frame.

Aluminium Bahrain B.S.C. (Alba) is one of the largest and most modern aluminium smelters in the world. Known for its technological strength and innovative policies, Alba enforces strict environmental guidelines, proudly maintains a high track record for safety, and is widely regarded as one of the top performers on a global scale.
Zamil Steel Construction Company was recently awarded a contract valued at SAR 26.8 million (USD 7.1 million) by Al Ghurair Construction LLC for the Riyadh Rapid Bus Transit System (BRT) project in the central region of Saudi Arabia.

The scope of the contract includes the supply and erection of more than 3,100 metric tons of structural steel with intumescent and cementitious fireproof coatings. The project includes the testing and commissioning of 17 units of BRT stations and five units of BRT bridges. The work is part of the third phase of Riyadh Rapid Bus Transit Lines within the King Abdulaziz Public Transport System project, owned by the Arriyadh Development Authority in Saudi Arabia.

The BRT System project is a fast-track, multicomponent undertaking with complex safety and security requirements. It will be delivered within a challenging time frame and will require an extraordinary level of attention to detail.

As is typical of the BRT Systems, the line will allow rush-hour buses to travel in bus-only lanes, which will be specific highway shoulder lanes that reduce traffic congestion and reduce commuting times. Currently utilized by many global cities, BRT is expected to provide an efficient, high-capacity and cost-effective transit solution for Riyadh and the entire central region.
Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 30 June 2018.

Revenues for the second quarter of 2018 amounted to SAR 1,060.9 million (USD 282.9 million), compared with SAR 1,125.4 million (USD 300.1 million) for the same period in 2017, a decrease of 5.7 percent.

Gross profits for the second quarter were SAR 143.2 million (USD 38.2 million), compared with SAR 237.4 million (USD 63.3 million) for the same period in 2017, a decrease of 39.7 percent.

Operating loss for the second quarter was SAR 7 million (USD 1.9 million), compared with an operating profit of SAR 65.2 million (USD 17.4 million) for the same period in 2017.

Net loss for the second quarter of 2018, after deduction of Zakat and tax, was SAR 39.8 million (USD 10.6 million), compared with a net profit of SAR 36.4 million (USD 9.7 million) during the same period in 2017, and compared with a net profit of SAR 15.6 million (USD 4.2 million) posted in the previous quarter (Q1 2018).

Total comprehensive loss for the second quarter of 2018 amounted to SAR 47.7 million (USD 12.7 million), compared with a comprehensive income of SAR 37.2 million (USD 9.9 million) in the corresponding quarter of last year, and compared with a comprehensive income of SAR 12.5 million (USD 3.3 million) in the previous quarter.

Revenues for the six-month period ending 30 June 2018 amounted to SAR 2,030.9 million (USD 541.6 million), compared with SAR 2,123.4 million (USD 566.2 million) for the same period in 2017, a decrease of 4.4 percent.

Gross profits for the six months were SAR 333.3 million (USD 88.9 million), compared with SAR 443.6 million (USD 118.3 million) for the same period in 2017, a decrease of 24.9 percent.

Operating profits for the six months were SAR 36.3 million (USD 9.7 million), compared with SAR 129.5 million (USD 34.5 million) for the same period in 2017, a decrease of 72.0 percent.

Net loss for the six-month period ending 30 June 2018, after deduction of Zakat and tax, was SAR 24.2 million (USD 6.4 million), compared with a net profit of SAR 78.2 million (USD 20.8 million) for the same period in 2017.

Total comprehensive loss for the six months amounted to SAR 35.2 million (USD 9.4 million), compared with a comprehensive income of SAR 84.2 million (USD 22.4 million) in the corresponding period of last year.

Loss per share for the six-month period ending 30 June 2018 was SAR 0.40, compared with earnings per share of SAR 1.30 during the same period in 2017.

Equity attributable to shareholders (after the elimination of Minority Interest) as of 30 June 2018 amounted to SAR 1,561.1 million (USD 416.3 million), compared with SAR 1,704.8 million (USD 454.6) as of 30 June 2017, a decrease of 8.4 percent.

Net loss for the second quarter of 2018 is due to a reduction in gross profit margins in the Air-Conditioning (AC) and Steel sectors as a result of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also attributed to higher financial charges, loss due to discontinued operations, and reduction in other income and income from associate investments.

Net loss for the six-month period ending 30 June 2018 is due to a reduction in gross profit margins in the AC and Steel sectors as a result of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also attributed to loss on discontinued operations and a reduction in other income and income from associate investments.

Net loss for the second quarter, when compared with the first quarter of this year, is due to a reduction in gross profit margins in the AC and Steel sectors as a result of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also attributed to higher financial charges, zakat and taxes, and loss due to discontinued operations and reduction in other income.

The external auditors have reviewed the financial statements and issued an unmodified report.

Comparative figures have been reclassified to conform to the presentation in the current period.
Zamil Central Air Conditioners Company was recently awarded a contract valued at SAR 2.55 million by the Special Economic Zone Authority of Duqm to supply HVAC systems for the Port of Duqm in the Sultanate of Oman.

According to the agreement, Zamil Central Air Conditioners will supply 160 HVAC systems and equipment, including central split units, packaged units, and fresh air handling units for the construction of the Liquid Bulk Berth Project at Duqm Port in Oman.

Situated on the southeastern seaboard of the Sultanate of Oman, overlooking the Arabian Sea and the Indian Ocean beyond, the Port of Duqm is fast becoming an important reality as part of the Middle East region’s rapidly transforming maritime landscape. The Port of Duqm has the trappings of a world-class, multipurpose commercial gateway. Also, as the principal anchor of a huge Special Economic Zone envisioned at Duqm, it also has the potential to develop into one of the Middle East’s largest ports in the long term.

The Port of Duqm is part of the ambitious SEZD project (Special Economic Zone of Duqm) in Oman, destined to be the biggest fully integrated Special Economic Zone in the Middle East. It includes industrial, logistics, residential, and tourist zones, supported by world-class road infrastructure, and an international airport and seaport.
Zamil Central Air Conditioners Company was recently awarded a contract worth SAR 7.5 million by Harbin Electric International Co., Ltd. for the Hassyan Clean Coal Power Plant project in Dubai, United Arab Emirates.

The scope of the contract includes the supply of more than 130 systems comprising air handling units, fan coil units, and air-cooled condensing units for the first phase of the Hassyan Clean Coal Power Plant. The 2,400 MW Hassyan clean coal power station is an ultra-supercritical power plant being developed in Saih Shuaib, Dubai, UAE. It is a multiphase project with a broad scope of requirements, including the need for airside systems. Upon completion, the plant will be the first coal-based power plant in the region.

The $3.4 billion project supports the Dubai Clean Energy Strategy 2050, which is aimed at producing environmentally friendly energy. The program aims to produce 25% of energy from solar power, 7% from nuclear power, 7% from clean coal, and the remaining 61% from gas by 2030. The power plant is expected to produce sufficient electricity to power approximately 250,000 households.
Zamil Air Conditioning and Refrigeration Services Company was recently awarded the Saudi Energy Efficiency Center’s (SEEC) Certificate of Qualification, following the fulfillment of all the requirements to obtain this certificate, becoming one of the first organizations in the Kingdom of Saudi Arabia to receive such accreditation.

The Licensing and Accreditation Committee comprises representatives from the Ministry of Commerce and Industry; the Ministry of Energy, Industry and Mineral Resources; the Electricity and Cogeneration Regulatory Authority; and an independent expert in the field of energy. The committee is chaired by SEEC, which regulates and controls the market of energy services companies in the Kingdom in collaboration with the relevant government authorities.

Energy services companies provide consulting and assessment engineering services for efficiency standards, lead on energy efficiency project management, conduct data and building audits, and measure and verify services, as well as invest in improving energy efficiency in factories.

The Saudi Energy Efficiency Center aims to enhance energy consumption efficiency and promote investment in alternative and renewable energy sources in support of diversified energy production, as outlined by the comprehensive national development strategy described in the Kingdom’s Vision 2030.

Zamil Air Conditioning and Refrigeration Services Company is one of the Kingdom’s leading companies in the management and execution of solar energy projects. The company provides engineering design services for meeting energy efficiency standards, as well as data review and energy audits. Its energy measurement and verification services meet the specific requirements of diverse clients. It is widely recognized as an industry leader in the cost-effective delivery of those solutions, on time and within budget.
Zamil Industrial Investment Co. has announced that the company held its ordinary general assembly (first meeting) at the Zamil Air Conditioners Auditorium in First Industrial City in Dammam on 23 May 2018 corresponding to 7 Ramadan 1439H at 22:00 with a quorum of 55.33% (out of which online e-voting was 50.33% and those attending in person was 5%). All resolutions of the meeting are as follows:

  1. Approved the Board of Directors report for the fiscal year ending 31/12/2017;

  2. Approved the external auditors report for the fiscal year ending 31/12/2017;

  3. Approved the consolidated financial statements for the fiscal year ending 31/12/2017;

  4. Approved discharging the Board of Directors from any liabilities for the fiscal year ending 31/12/2017;

  5. Approved the previously distributed dividends for the first and second half of 2017 dividends for a total amount of SAR 120 million at SAR 2.00 per share, which represents 20 percent of paid-up capital;

  6. Approved delegating the Board to distribute interim dividends for the fiscal year 2018, and decide on the eligibility and distribution dates in compliance with the pertaining Capital Market Authority regulations, and according to the company financial position;

  7. Approved the distribution of SAR 1,600,000 as Board Remuneration for the year ending 31/12/2017 at SAR 200,000 per Board Director;

  8. Approved the appointment of Ernst Young to review and audit the company’s quarterly and annual accounts for the second quarter and third quarter, and annual statements for the year 2018 and the first quarter of 2019, and agree to their service fee;

  9. Approved the related party transactions between the company and Zamil Architectural Holding Company, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest and renewed it for another year. Total purchase value in 2017 was SAR 1,593,322, agreed upon with the prevailing commercial terms;

  10. Approved the related party transactions between the company and Zamil Chem-Plast Industries, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest and renewed it for another year. Total purchase value in 2017 was SAR 11,430,966, agreed upon with the prevailing commercial terms;

  11. Approved the related party transactions between the company and Zamil Trade & Services Holding Company, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest and renewed it for another year. Total purchase value in 2017 was SAR 20,429,396, agreed upon with the prevailing commercial terms;

  12. Approved the related party transactions between the company and Zamil Real Estate Holding Company, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest and renewed it for another year. Total purchase value in 2017 was SAR 13,031,172, agreed upon with the prevailing commercial terms.
Zamil Industrial has been selected by the United Safety Council (USC) as the winner of the First Place Gold Award for Corporate Safety for the year 2017. The company was selected from a group of international organizations collaborating with the council.

The award recognizes Zamil Industrial for the outstanding safety initiatives in place at the company, the positive results of its annual HSE Management Audit, the thoroughness of the Safety Key Performance Index conducted every quarter and the unique and innovative Safety Task Analysis and Risk Reduction Talk (STARRT) program.

The award selection committee cited the company’s extraordinary improvements in its accident frequency rating, severity rate and the outstanding reductions achieved in lost-time injuries and recordables.

Zamil Industrial understands the importance of involving both employees and management in safety programs and safety committee meetings, of having written safety and health programs in place and of using inspection and incident investigation programs to address and resolve any issues that may arise.

In addition, the director of the Corporate Loss Prevention Department (CLPD) at Zamil Industrial, Awadh Al-Ghamdi, received a Certificate of Recognition in the Safety Leadership category, as well as a Certificate of Recognition in Excellence in Safety from the USC for putting the Certified Occupational Safety Specialist (COSS) program to outstanding use.

These international awards acknowledge the significant contributions of the CLPD management and teams in the implementation of effective safety programs and initiatives. They also demonstrate the company’s genuine commitment to sustaining rigorous safety management and to providing a safe, healthful and decent working environment free from foreseeable hazards and risks across all the business units of Zamil Industrial.

Based in Orlando, Florida, the United Safety Council is an independent, nonprofit, nongovernmental safety training and educational organization operating locally and nationally. The council is a member of the American Association of Safety Councils, an international safety and services association.
Zamil Higher Institute for Industrial Training recently participated in the first Contractor Workforce Qualification Assurance Program (CWQAP) forum, held in Al-Khobar and attracting representatives from many contracting companies and training centers and institutes.

Mr. Nabil Al-Dabal, General Manager of Training and Development at Saudi Aramco, presented the trophy for best performance among all the Saudi Aramco-approved training centers and institutes to Dr. Mohamed Sharif, Director of the Institute.

Dr. Sharif, in accepting the award, stated that the prestigious top performer award was recognition of how Zamil strictly adhered to the high quality procedures and standards stipulated by Saudi Aramco for delivering qualification test preparation training courses as well as the qualification tests.

He added that the forum provided an excellent opportunity for all to learn more about the aims and objectives of CWQAP. The Institute gave a detailed presentation on the qualification test implementation at the Institute and the qualification preparation training course delivery methodology, which enabled them to achieve a high pass rate among those who attended the typical three-day qualification preparation course.

It is worth noting that Zamil Higher Institute for Industrial Training was the first training center to be approved by Saudi Aramco to conduct the qualification tests in 2014, and since then the Institute has helped over 700 technicians from different contracting companies to attend the qualification preparation courses and take the relevant tests for six key crafts: electricians, instrument technicians, machinists, HVAC technicians, metal pipefitters, and metal fabricators.
The Board of Directors of Zamil Industrial is pleased to invite all shareholders to attend its general assembly to convene in an ordinary session on Wednesday, 23 May 2018, at the Zamil Air Conditioners Auditorium in Dammam’s First Industrial City at 22:00 pm (location: https://goo.gl/maps/1xeBXFCxVV82). The following items on the agenda will be reviewed and discussed:

  1. Vote on the Board of Directors report for the fiscal year ending 31/12/2017;

  2. Vote on the external auditors report for the fiscal year ending 31/12/2017;

  3. Vote on the consolidated financial statements for the fiscal year ending 31/12/2017;

  4. Vote on discharging the Board of Directors from any liabilities for the fiscal year ending 31/12/2017;

  5. Vote on the previously distributed dividends for the first and second half of 2017 dividends for a total amount of SAR 120 million at SAR 2.00 per share, which represents 20 percent of paid-up capital;

  6. Vote on delegating the Board to distribute interim dividends for the fiscal year 2018, and decide on the eligibility and distribution dates in compliance with the pertaining Capital Market Authority regulations, and according to the company financial position;

  7. Vote on the distribution of SAR 1,600,000 as Board Remuneration for the year ending 31/12/2017 at SAR 200,000 per Board Director;

  8. Vote on the appointment of the external auditors, as per the recommendation of the Audit Committee, to review and audit the company’s quarterly and annual accounts for the second quarter and third quarter, and annual statements for the year 2018 and the first quarter of 2019, and agree to their service fee;

  9. Vote on the related party transactions between the company and Zamil Architectural Holding Company, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest, and renew them for another year. Total purchase value in 2017 was SAR 1,593,322, agreed upon with the prevailing commercial terms;

  10. Vote on the related party transactions between the company and Zamil Chem-Plast Industries, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest, and renew them for another year. Total purchase value in 2017 was SAR 11,430,966, agreed upon with the prevailing commercial terms;

  11. Vote on the related party transactions between the company and Zamil Trade & Services Holding Company, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest, and renew them for another year. Total purchase value in 2017 was SAR 20,429,396, agreed upon with the prevailing commercial terms;

  12. Vote on the related party transactions between the company and Zamil Real Estate Holding Company, in which Mr. Adib Al Zamil (representative of Zamil Group Holding Company) has an indirect interest, and renew them for another year. Total purchase value in 2017 was SAR 13,031,172, agreed upon with the prevailing commercial terms.

The quorum for this meeting is for shareholders representing at least 25 percent of the company’s paid-up capital. If such quorum is not attained, a second meeting can be held after one hour from the time the first meeting was supposed to convene. In all cases, the second meeting shall be deemed valid irrespective of the number of shares represented therein. Each shareholder registered with the company register at the Securities Depository Center (Depository Center) shall have the right to attend the general assembly meeting at the end of the trading session preceding the general assembly meeting.

Shareholders who cannot attend the meeting may appoint a proxy, while taking into consideration that the proxy must not be a member of the board or an employee of the company. Copies of the proxies should be submitted to the company with a copy of a valid ID at least two days prior to the meeting date by mail (P.O. Box 14441, Dammam 31424). The proxy must be attested by the Chamber of Commerce & Industry if the shareholder is a member of the same, a company, or legal entity; a licensed bank or an Authorized Person in the Kingdom, provided that the authorizing shareholder holds an account with the attesting bank or Authorized Person; or a Notary Public or Person licensed for attesting. The original proxy must be submitted on the day of the meeting. The proxy will be valid for another meeting if this meeting’s quorum is not met.

The company would also like to inform its shareholders that electronic voting will be available to enable them to vote on the agenda items of this meeting. Shareholders who are registered in Tadawulaty services portal can effectively vote online from 10 am on Sunday, 20 May 2018 until 4 pm on Wednesday, 23 May 2018. The company invites its shareholders and urges them to actively participate and vote online by visiting the Tadawulaty web page www.edaa.com.sa, a free service available to all shareholders.

Shareholders are welcome to send their inquiries by directly contacting our Corporate Communications & Investor Relations department by phone (+966138108180) or by email (investors@zamilindustrial.com).
Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 31 March 2018.

Revenues for the first quarter of 2018 amounted to SAR 969.9 million (USD 258.6 million), compared with SAR 997.9 million (USD 266.1 million) for the same period in 2017, a decrease of 2.8 percent.

Gross profits for the first quarter were SAR 193.6 million (USD 51.6 million), compared with gross profits of SAR 209.6 million (USD 55.9 million) for the same period in 2017, a decrease of 7.6 percent.

Operating profits during the first quarter were SAR 43.3 million (USD 11.5 million), compared with SAR 64.3 million (USD 17.1 million) for the same period in 2017, a decrease of 32.6 percent.

Net profits for the first quarter of 2018, after deduction of Zakat and tax, were SAR 15.6 million (USD 4.2 million), compared with SAR 41.8 million (USD 11.1 million) during the same period in 2017, a decrease of 62.6 percent, and compared with SAR 4.8 million (USD  1.3 million) posted in the previous quarter (Q4 2017), an increase of 220.9 percent.

Total comprehensive income for the first quarter of 2018 amounted to SAR 12.5 million (USD 3.3 million), compared with SAR 47 million (USD 12.5 million) in the corresponding quarter of last year, a decrease of 73.4 percent, and compared with SAR 0.71 million (USD 0.19) posted in the previous quarter, an increase of 1664 percent.

Earnings per share for the three-month period ended 31 March 2018 were SAR 0.26, compared with SAR 0.70 during the same period in 2017.

Equity attributable to shareholders (after elimination of non-controlling interest) as of 31 March 2018 amounted to SAR 1,668.8 million (USD 445 million), compared with SAR 1,727.6 million (USD 460.7 million) as of 31 March 2017, a decrease of 3.4 percent.

The decrease in net income in the first quarter, when compared with the same period last year, was due to lower sales and operating margins in the Steel and Insulation sectors. The reduction in net income is also attributed to the decrease in income from associate investments and other income.

The increase in net income in the first quarter of 2018, when compared with the fourth quarter of 2017, was primarily due to improvement in other income and no impairment losses in the first quarter of 2018. However, operating income decreased due to the reduction in sales of the AC and Steel sectors and lower operating margin in the AC sector.

Comparative figures have been reclassified to conform to the presentation in the current period.
Further to the announcement on Tadawul dated 26 March 2018 with regard to the Board decision to distribute cash dividends for the second half of 2017, the company would like to notify the public that the distribution date will be on 30 April 2018 by means of transfer to bank accounts.

Dividends eligibility will be for shareholders holding shares as of the close of trading on Monday, 16 April 2018, registered in the company share registry at the Depository Center (SDC) at the end of the second trading day following the due date on Wednesday, 18 April 2018. Transfer of dividends will be through the National Commercial Bank.
Once again, Zamil Central Air Conditioners Co. (ZCA) has won Gold in Zamil Industrial’s Safety Award of Excellence Program for 2017. This is the sixth consecutive year that ZCA has been the winner of this award; the program was introduced in 2010.

The award ceremony was held on April 4, 2018 at the ZCA factory in Dammam Second Industrial City. During the event, the director of the Corporate Loss Prevention Department, Awadh Eid Al-Ghamdi, praised the efforts of the ZCA team and set the challenge of maintaining ZCA’s standing as the best-performing business unit for safety. The award was received by the ZCA Health, Safety and Environment (HSE) Committee, headed by Sami Banat, General Manager, Unitary & Applied Business Unit.

At the same event, the HSE Excellent Leadership Award was presented to Sami for his exemplary support to the company’s loss-prevention programs and initiatives, and for his effective management of health and safety at ZCA. Accepting the award, Sami recognized the contribution of the management and leaders of ZCA.

The Zamil Industrial Safety Award Program recognizes and commends the factory that achieves and maintains good safety records. The main objectives of the program are to stimulate interest in accident prevention, promote a safe and healthy workplace as the greatest asset of Zamil Industrial and its workforce, and protect the business interests of the company.
The Board of Directors of Zamil Industrial Investment Co. has approved by circulation on 26 March 2018 the distribution of dividend to the shareholders for the Second Half of 2017 as follows:

  1. Total amount of distribution of dividend SAR 60,000,000.
  2. Total eligible shares of 60,000,000.
  3. Dividend per share SAR 1.00.
  4. Dividend represent 10% of the Face value.
  5. Second half 2017 dividends eligibility will be for shareholders holding shares as of Monday, 16 April 2018, registered in the company share registry at the Depository Center (SDC) at the end of the second trading day following the due date on Wednesday, 18 April 2018.
  6. Details of dividend distribution date: will be announced at a later stage.
Zamil Industrial Investment Company (Zamil Industrial) has announced its audited consolidated financial results for the year ended 31 December 2017.

Revenues for the year amounted to SAR 4,403.9 million (USD 1,174.4 million), compared with SAR 4,929.2 million (USD 1,314.4 million) for the same period in 2016, a decrease of 10.7 percent.

Gross profits were SAR 887.6 million (USD 236.7 million), compared with SAR 1,071.1 million (USD 285.6 million) for the same period in 2016, a decrease of 17.1 percent.

Operating profits were SAR 226.5 million (USD 60.4 million), compared with SAR 333.6 million (USD 88.9 million) for the same period in 2016, a decrease of 32.1 percent.

Net profits for the year, after deduction of Zakat and tax, were SAR 105 million (USD 28 million), compared with SAR 146.4 million (USD 39 million) during the same period in 2016, a decrease of 28.3 percent.

Total comprehensive income for the year amounted to SAR 106.5 million (USD 28.4 million), compared with SAR 124.5 million (USD 33.2 million) in 2016, a decrease of 14.5 percent.

Earnings per share for the twelve-month period ended 31 December 2017 were SAR 1.75, compared with SAR 2.44 during the same period in 2016.

Equity attributable to shareholders (after the elimination of Minority Interest) as of 31 December 2017 amounted to SAR 1,664.7 million (USD 443.9 million), compared with SAR 1,678.2 million (USD 447.52 million) as of 31 December 2016, a decrease of 0.8 percent.

The decrease in net profits in the twelve-month period, when compared with the same period last year, was due to lower sales and operating margins in the Air Conditioning, Steel and Insulation sectors attributable to project delays as a result of a general slowdown in the contracting business ecosystem. The decrease in net profits is also attributed to reduction in other income.

Comparative figures have been reclassified to comply with the current period presentation of the financial statements, as well as to meet the newly adopted IFRS standards.
Zamil Steel Construction Company (ZSCC) was recently awarded a turnkey contract by Abdul Latif Jameel Group, valued at SAR 45.5 million (USD 12.1 million), for the Beyt Al Fann Jameel art galleries and exhibition complex in the western region of Saudi Arabia.

The scope of the contract includes the design, fabrication, supply and erection of 1,300 metric tons of pre-engineered steel buildings, as well as the provision of all EPC/LSTK works, including civil, electrical, structural, architectural, electrical, external and finishing works for the Beyt Al Fann Jameel art galleries and exhibition complex. ZSCC will also perform the HVAC, firefighting systems, low current and communication systems, secondary infrastructure landscaping and hardscaping at the project site.

Since the project is located near the sea, the high water table at the site increases its complexity of scope by requiring adequate dewatering and shoring on all sides.

The project is a fast-track, multicomponent undertaking that requires a specific lead time for fitting and synchronization, in addition to the completion of other complex safety and security requirements within a challenging time frame.

“Our demonstrated success with turnkey facilities, including access to design and project management expertise and specialized materials manufacturing and services, makes our company the natural choice for this prestigious project,” said Mohammed Al Sahib, director of ZSCC. “Destined to become a national landmark as well as a worldwide destination, we are proud to participate in the construction of “Beyt Al Fann Jameel.”

“Beyt Al Fann Jameel” is a new international gathering point for artists and art lovers that invites visitors to Jeddah to delve into the world of art. It will house and exhibit all forms of visual art, both contemporary and traditionally inspired by the Islamic civilization, including drawings, paintings, calligraphy, design and much more.

The complex, which spans an area of more than 14,000 square meters, will feature an exhibition space specifically designed to display Islamic-inspired works, a space dedicated to local and visiting international exhibitions, and an open-air museum for the display of sculptures. Educational areas, such as an art laboratory, training rooms and a spacious room for lectures, are planned, as well as commercial space in the form of an event hall, cafeteria and retail outlets.
Zamil Steel Buildings India Pvt. Ltd., a subsidiary of Zamil Industrial, has been recertified for the Integrated Management System (IMS) based on the latest version released by the International Organization for Standardization. This certification unifies the three key standards – ISO 9001:2015 Quality Management System; ISO 14001:2015 Environmental Management System; and OHSAS 18001:2007 Occupational Health & Safety Management System – into one coherent system.

Third-party auditors from Bureau Veritas Certification Holding SAS performed the rigorous assessment and evaluation of Zamil Steel India’s management system and confirmed their satisfaction with the company’s Quality, Occupational Health & Safety, and Environment standards.

The scope of the certification includes the manufacture and supply of pre-engineered steel buildings and steel structures, while the scope of the audit examined the management of quality, health, safety, and environmental management systems at the company. No areas of non-conformance were identified during the audit, affirming the company’s compliance with the required standards and acknowledging the effectiveness of the existing management system at Zamil Steel India.

IMS Certification refers to a company-wide quality system that improves process and service quality throughout the business, leading to increased efficiency through waste reduction, more efficient utilization of resources and streamlining of the current practices used by the company.

The achievement of this class of certification reaffirms the continuing commitment of Zamil Steel to full compliance with global standards and to the delivery of the highest quality products and the most cost-effective solutions to its valuable clients.
Zamil Industrial Investment Co. has announced that the company held its ordinary general assembly meeting at the Zamil Air Conditioners Auditorium in First Industrial City in Dammam on 31 December 2017 corresponding to 13-04-1439H at 6:30 pm with a quorum of 55.83% (out of which online e-voting was 50.79% and those attending in person was 5.04%). The following resolutions were reached at this meeting:

  1. Approved the Updated Audit Committee Charter.
  2. Approved the Updated Nomination & Remuneration Charter.
  3. Approved the Updated Board Membership Policy.
  4. Approved the Board, Committees, and Executive Management Remuneration Policy.