CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
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A n n u a l
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Your Complete Building Solution
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index
01
02 CEO Statement
03
03 Board of Directors
05
04 Introduction
09
05 Key Business Lines
11
06 Building Material Manufacturing Saudi Arabia
19
07 Building Material Manufacturing International
33
08 Construction Services Saudi Arabia
43
09 Construction Services International
57
10 Sustainable Development / CSR
63
11 Financial Results
69
•
Financial Statements
70
•
Zakat & Statutory Payments
77
•
Dividend Policy
79
12 Independent Auditors' Report
80
13 Contact Information
124
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
01 Chairman's Statement
01
Chairman's Statement
Chairman'S Statement
Construction Products Holding Company (CPC) stands poised for yet another milestone.
I would like to take a moment to reflect on our journey, and the invaluable contributions of our
many stakeholders, in particular, the unceasing commitment and manifold contributions of our
shareholders.
Great leadership, management and staff have played a key role in our growth, of equal
importance has been our relationship with SBG. As CPC has evolved, this relationship has
developed from that of a supplier to SBG, to a vital partner – providing SBG with a single source
for the logistical requirements that allow them to confidently take-on, and complete, even the
most ambitious mega-projects.
As we take our next big step forward, I would like to thank and congratulate each and everyone
who has contributed in making CPC a major force in construction. Through our shareholders,
Board, management and staff across all of our subsidiaries, we have truly lived up to our
promise to provide the Kingdom, and the world, with 'Complete Building Solutions'.
Saleh Binladen
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
The last couple of years have provided us with unprecedented opportunities, and undreamed of
challenges – and all have been met with the same equanimity by our Board, who’s support has
been integral to our continued advancement.
02
CEO Statement
CEO Statement
Since its inception, CPC takes pride in its success that rests on 3 core factors: quality products,
value engineering and understanding the priorities of its customers. This helped us to not only
remain afloat, but also to grow in what remains a challenging environment in the whole MENA
region: Our business volume and the number of projects in which we are involved increased
and we have added, over the years, many new production lines and have improved existing
ones.
The positive outcomes of 2013 have also been boosted by extensive reorganization,
restructuring measures, and streamlining our businesses and sizing our operations for nearterm demand levels. At the same time, and keeping in mind that we need to keep on attracting
more business and investors, we continuously look for innovations in our businesses, to invest
in our people, and to improve what we offer in order to maintain our strong business model,
and to expand on it where opportunities exist. Along these lines, in 2014 we are planning a
strong presence in Africa, focusing mainly on present markets, Egypt and Senegal.
To conclude, I would like to thank CPC team for their hard work and enthusiasm, and our shareholders
for their trust in our capabilities and deliverables. I would also like to thank our clients for their trust
in us and in our products, assuring them all of our continued drive and determination to continue
providing fast and productive ways to successfully fulfill our commitment in providing excellent
products and services in the field of construction, while maintaining excellent quality control.
Mu'taz Sawwaf
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
In 2013, CPC recorded a profit of 837.12 million (before Zakat “taxes”). The profit and earnings
represent increases of 6% compared with the 2012 outcomes. Our clients now benefit from
contracting services and production lines.
03
Board Of Directors
Board of directors
Saleh Binladen
Saad Binladen
Mu'taz Sawwaf
Walid Samaha
Gasem AL-Shaikh
Taimor Labib
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Alaa Al Jabri
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03
Board Composition
Board composition
The Company currently consists of seven Board Members with two remaining members to be
chosen. The Company is currently short-listing appropriate candidates and expects to fill the
two vacant independent director positions within 60 days of filing its IPO application with the
CMA. Given the stature and the size of CPC, it is imperative that the directors selected bring
value addition to the board and represent the independent shareholders effectively.
No.
Director Name
Title
Nationality
Executive /
Non-Executiv
Independency
Saleh Mohammed Binladen
Chairman
Saudi
Non-Executive
Non-Independent (SBG)
2
Saad Mohammed Binladen
Member
Saudi
Non-Executive
Non-Independent (SBG)
3
Mu’taz Wasef Sawwaf
Member
Lebanese
Executive (CEO)
Non-Independent (SBG)
4
Walid Kamel Samaha
Member
Jordanian
Executive (COO)
Non-Independent (SBG)
5
Qasim Saleh Al Sheikh
Member
Saudi
Non-Executive
Non-Independent (SBG)
6
Taimoor Yahya Labib
Member
US
Non-Executive
7
Alaa Shakeeb Al Jabri
Member
Saudi
Non-Executive
Independent
8
[Vacant]
Member
Non-Executive
Independent
9
[Vacant]
Member
Non-Executive
Independent
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
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Non-Independent
(Sirat Holding “Standard Chartered Private Equity”)
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04
Introduction
Introduction
Construction Products Holding Company
(CPC) is a Closed Joint Stock Company,
founded in Jeddah, Saudi Arabia in 2007
with the aim of providing quality construction
products and exceptional services in the field
of supplying building materials. While CPC
is focused primarily on serving Saudi Arabia,
it has also developed significant interests in
regional and international markets.
CPC was established to consolidate the
operations of seven companies in Saudi
Arabia that had been developed to serve the
needs of the Saudi Binladin Group (SBG).
Since then, CPC has expanded rapidly into
a one-stop-shop for the construction sector,
providing a comprehensive range of building
materials and services under one roof. At
the same time, CPC has developed a strong
customer base beyond SBG.
CPC’s many subsidiaries and joint ventures
are focused on providing high-end quality
specialized building materials and professional
services that are critical to the construction
sector. The companies within CPC have a long
track record of working with each other and
the group is capable of providing seamless
and complete building solutions.
CPC’s holding structure comprises of a
number of subsidiaries that specialize in
various construction materials, transport
and logistics services, all of which serve
the building industry under one umbrella.
We have implemented the “One-Stop-Shop”
concept in Saudi Arabia and plan to implement
it in the rest of the MENA region. On average
80% of a typical construction is built with
materials provided by CPC subsidiaries.
CPC has managed to maintain its leadership
towards excellent construction products by
committing to quality usage of latest and
new technologies, and, most importantly,
committing to its people. CPC invests great
time and energy in training and developing
talents and is strongly committed to attracting
and developing local skills across all its
divisions and subsidiaries.
Today CPC is headquartered in Jeddah
covering regional and international markets
through its subsidiaries in Riyadh, Bahra,
Dammam, and its established offices in Qatar,
UAE, Egypt, India, and Syria providing clients
with “Complete Building Solution” facilities for
all their construction needs.
Our vision is to “become your complete
building solution” and our mission is “to provide
our clients with high-end quality construction
building materials and services”.
CPC’s overall offer ranges from the production
and supply of key components such as
precast, power cables, glass and aluminium,
steel structures, marble and granite, readymix concrete and adhesives, to specialized
building solutions and finishing services. They
also provide design and installation services
in all areas.
Our main focus is to provide customers
with a comprehensive range of building
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
CPC executed turnkey projects for both the
public as well as the private sectors and
earned its reputation as the leading quality
construction material provider in the Kingdom
of Saudi Arabia. Its products cater to the
ever-changing needs of the market, and its
experience covers all market sectors from
Corporate Headquarters, to Commercial
Office Buildings, Mega Projects, Mixed Use
Facilities, Hospitality/ Public Assembly, and
Commercial and Private Interiors.
materials and services under one roof. Our
offerings include complete turnkey projects
for government and commercial purposes,
private villas, holy sites, high-rise buildings,
furnished compounds, major shopping
malls, airports, and even complete cities.
05
Key Bu s ine s s Li ne s
Key Business Lines
CPC Holding
Company
Building Materials
Manufacturing –
International
Building Materials
Manufacturing - KSA
Construction
Services - KSA
Construction
Services International
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
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Key B u s i n es s L ines
Building Materials
Manufacturing - KSA
Concrete Products
and Services
Metal
Marble and Granite
Electromechanical
Supporting Products
Cables
Adhesive
BMPC, Premco,
Ready Mix,
Arabian Austrian
Ready Mix,
PCPC Rabigh
RSC, BSC,
UAAC,
Roots Steel International,
Roots Steel KSA
MGIC, Marble & Granite
(Cyprus) Limited,
MGI-FHL Marbles (Greece),
MGIC Italy, D-Wire
FAME, ITCC
Bahra Cables
AMC
Woodwork,
Gypsum and GRC
Sacodeco, DEBAGE
Building Materials
Manufacturing –
International
Egypt
Concrete Products
and Services
Premco Ready
Mix Egypt,
Premco Egypt
Paints
UCMC and
Robert Paints
UAE
China
Metal
UAAC Egypt,
BSC Egypt, Roots
Steel Egypt
Marble and Granite
GNMT
Concrete Products
and Services
Technocast
UAE
Qatar
Syria
Metal
Concrete Products
and Services
Concrete Products
and Services
Polyco, Ginco Steel
QD-CPC Industries
Premco Syria,
Ready Mix Homs,
Adra Ready Mix
Metal
USBC Syria, UAAC
Syria, BSC Syria
Key Business Lines
Construction
Services - KSA
Electromechanical
Services
Civil Works
Construction
Vision EM, Inma Utilities,
MTTS, Empower, Vision
Networks, EFECO KSA,
Vision Etimaad
Contracting,
First Vision
Axal Arabia, Haramain
Gate, Orascom, Maytas
Infra, Dorra Al Haramain,
Arabtec KSA, Impregilo
Finishing Services
Construction Equipment
Rental and Services
Fast Finishing,
Sacodeco
Equipment Rental,
Roots Scaffolding,
UITC, Arabtec Equipment
Foundation
Huta
Construction
Services International
Egypt
India
Electromechanical
Services
Real Estate &
Engineering Services
Real Estate &
Engineering Services
Vision Qatar
Focus Engineering,
Focus Management,
CPC Industrial Development
Preferred
Engineering India
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Qatar
05
Key B us i n es s L ines
CPC’s operations are divided into two main business lines
which together, deliver every link of the supply chain, for
even the biggest projects.
Each of these sectors compliments each other and together they allow CPC to deliver on our
promise of ‘Complete Building Solutions’ for any project, regardless of size or complexity.
As new technology becomes available, CPC invests – either in new companies or by developing
key alliances – in order to remain at the forefront of international construction.
Our core business areas are:
A. Building Material Manufacturing - KSA
The building materials market is a sector of
economy which provides the basic and essential
components for construction projects. In order
to keep abreast of the latest developments, we
constantly broaden our manufacturing industrial
chain, locally and internationally, to meet the
demands of different project types and at
massive production capabilities.
CPC currently supplies:
A.1) Concrete Products & Services
Fundamental to any construction project,
concrete has become an incredibly complex
industry on its own. Our local and international
factories do not simply manufacture concrete,
but develop state-of-the-art concrete solutions
based on client/ project requirements.
Key factories and business units: Premco
Precast, Premco Ready Mix, Bahra Modern
Precast, Arabian Austrian Ready Mix, PCPC
Rabigh.
A.2) Metal
The metal industry has undergone monumental
changes, and the future promises to be even
more dynamic — requiring us to become more
efficient to address global competition and
changing technologies. CPC has established
and acquired partnerships with leading factories
and business units in the Metal & Steel industry,
providing products and services ranging from
all structural steel requirements to decorative
metalwork, and aluminum.
Key factories and business units: BSC, RSC,
UAAC, Roots Steel International, Roots Steel
KSA.
A.3) Marble & Granite
Highly prized in the Saudi construction market,
granite and marble are used both on the exterior
and interior of buildings.
CPC produces marble and granite, both in our
own quarries and outsourced, for all applications
– from highly detailed decorative work, to
cladding.
Key factories and business units: Marble &
Granite International (MGIC).
A.4) Electro Mechanical Supporting
Products
Electro-mechanics are the myriad little things that
make a project work. In order to control this vital
aspect, CPC offers specialized pre-engineered
solutions and custom made installations, with
detailed engineering ideas, solutions and
detailed fabrication shop drawings to take any
project from concept to completion.
Key factories and business units: FAME, ITCC.
A.5) Cables
Wherever construction happens, wires
and cables are needed. To meet the everincreasing de mand for electric cables and
wires, CPC joined forces with international
partners, to locally produce a variety of high
quality cables and electrical wiring, using
state-of-the-art German technology.
Key factories and business units: Bahra Cables.
KEY Business lineS
A.6) Adhesives
C. Construction Services - KSA
An often underestimated aspect of every project
is adhesives, on which incredible demands are
placed in the harsh regional climate. CPC locally
produces adhesives, under their own label and
under license from leading US companies. To
meet the diverse needs of the construction
industry, we produce a vast array of products ranging from adhesives and grouts, to epoxies,
bonding agents and specialty products.
The Saudi Arabian Construction projects market,
particularly its civil and infrastructure sectors,
are increasing dramatically in size over the past
12 years and is expected to continue to grow as
the Kingdom pushes ahead with its ambitious
development plans. To meet this demand,
CPC has established or acquired numerous
specialized contracting companies, both locally
and internationally.
Key factories and business units: AMC.
Our key business units are segregated into the
following sectors:
A.7) GRC & Woodwork
The skilled craftsmen required to bring raw
materials to life are a highly sought after and
dwindling resource. Our unique team of artisans
provide woodwork and gypsum solutions for
the construction industry for interior and exterior
finishing and decoration - from planning tailored
solutions to manufacturing unique furnishings
and drapery, to finishing and decorative work.
Key factories and business units: Sacodeco.
B. Building Material Manufacturing International
B.1) Concrete Products & Services
Key factories and business units: Premco Ready
Mix Egypt, Premco Egypt, Technocast UAE,
QD-CPC Industries, Premco Syria, Ready Mix
Homs, Ready Mix Aleppo, Adra Ready Mix.
B.2) Metal
Key factories and business units: UAAC
Egypt, BSC Egypt, Roots Steel Epypt, Polyco,
Ginco Steel, USBC Syria, UAAC Syria, BSC
Syria.
Electromechanical contracting is the brain
behind all the utilities and controls of any
project. From supply to designing and applying
the different components needed. Through our
subsidiaries, CPC provides electromechanical
service solutions for every aspect of construction.
Service Providers: Vision EM, Inma Utilities,
EMPOWER, Vision Networks, MTTS, EFECO
KSA, Vision Etimaad Contracting, First Vision.
C.2) Civil Works
Civil engineering sets a project up to succeed.
In order to ensure the highest standards, CPC
has established and acquired partnerships
with a number of specialized civil engineering
and foundation contracting companies. Each
company brings special skills to the table,
allowing us to meet the requirements of any
project.
Service Providers: Axal Arabia, Harmain Gate,
Orascom, Maytas infra, Dorra Al-Haramain,
Arabtec KSA, Impreglio and Huta Foundation.
B.3) Marble & Granite
Key factories and business units: Global New
Material Technology (GNMT).
B.4) Paints
Key factories and business units: UCMC, Robert
Paints.
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
CPC currently supplies:
C.1) Electromechanical Services
05
Key B us i n es s L ines
C.3) Finishing Services & Products
The perfect finishings is the final touch in a project.
To meet the growing demand for high end finishing
products and sophisticated designs, CPC provides
cutting-edge services for any project – regardless
of size or complexity.
Service Providers: Fast Finishing, Sacodeco.
C.4) Construction Equipment Rental &
Services
Incredible growth in the sector has led many
construction companies to hire machinery for
specific projects. Rather than buying equipment
outright, companies look to maximize their
project budgets. CPC has taken advantage of
this new market opportunity by creating its own
construction equipment rental business unit that
caters to equipment needs in KSA.
Service Providers: Equipment Rental Company,
Roots Scaffolding, UITC, Arabtec Equipment.
D. Construction Services - International
Our key business units are segregated into the
following sectors:
D.1) Electromechanical Services
Service Providers: Vision Qatar.
D.2) Real Estate & Engineering Services
Service Providers: Preferred Engineering India.
D.3) Engineering Services
Service Providers: Preferred Engineering India,
Focus Engineering Egypt, Focus Managment
Egypt, CPC Industrial Development.
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AMC • BAHRA CABLES • BPC • BSC
& RSC • FAME • MGIC • PREMCO •
PREMCO READY MIX • ROOTS STEEL
INTERNATIONAL • UAAC • SACODECO
BUILDING MATERIAL
MANUFACTURING
Saudi Arabia
Revenue
2012
2013
Net Income
5,465,810
6,147,605
2012
2013
491,967
358,982
06
Companies Overview
ADHESIVE MANUFACTURING
COMPANY
COMPANY OVERVIEW
AMC is a Saudi limited liability company that has been serving it’s valued customers
since it was incorporated in 1992. Over the years, AMC has proved to be one of
the leading manufacturers of chemicals and additives for building and construction.
Originally part of the Saudi Binladen Group, AMC is currently a proud member of
an elite group of companies under the strong leadership and guidance of CPC
(Construction Products Holding Co).
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Shamiyah “Makkah Haram”, KAIA “King Abdul Aziz International Airport”, Strategy
Al Mowahad “Ministry of Interior”, KSAU “King Saud Bin Abdul Aziz University for
Health Sciences”, Capital Market Authority “CMA”, Correctional Facilities, DOKAAE,
Mataf Expansion, Senegal Airport, KAFD “King Abdullah Financial District”, Princess
Noura University.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
16,203
13,974
-14%
Total Assets
17,860
15,366
-14%
Current Liabilities
3,814
1,076
-72%
Total Liabilities
5,312
2,704
-49%
Total Equity
12,548
12,661
1%
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
10,818
11,763
16,195
9%
Gross Profit
2,768
2,697
4,267
-3%
Growth (%)
Operating Income
979
1,132
2,046
16%
Net Income Before Zakat & Tax and Minority Interest
979
1,132
1,943
16%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
988
1,132
1,943
15%
06
Companies Overview
BAHRA ADVANCED
MANUFACTURING
CABLE COMPANY
COMPANY OVERVIEW
BCC, etablished in 2007 as a part of CPC Industries and based in Bahra, is a producer
of low, medium, and high voltage cables in Saudi Arabia.
The company plans to manufacture a wide variety of copper products such as copper
tapes and bus bars. Catering to the electrical manufacturing sector, BCC is equipped
with state-of-the-art production lines to provide and ensure high quality products.
Design, production system and management are supported by leading German
technology.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Princess Noura University, KSAU “King Saud Bin Abdul Aziz University for Health
Sciences”, Strategy Al Mowahad “Ministry of Interior”, Public Service Center, Shumaisi,
KAIA “King Abdul Aziz International Airport”, Shamiya Project, Mataf Expansion, SANG
Project “National Guard”, HHR Project “Haramain High Speed Railway Project”.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
1,660,486
1,045,844
-37%
Total Assets
2,261,144
1,468,349
-35%
Current Liabilities
1,452,525
918,996
-37%
Total Liabilities
1,645,206
1,038,500
-37%
Total Equity
615,938
429,849
-30%
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
1,556,577
2,281,612
1,990,116
47%
Gross Profit
156,335
205,187
256,196
31%
Operating Income
110,064
144,622
87,308
31%
Net Income Before Zakat & Tax and Minority Interest
76,470
101,295
79,208
32%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
523
31,683
-
Net Income
76,470
101,295
79,208
32%
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CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
06
Companies Overview
BAHRA MODERN
PRECAST COMPANY
Bahra Modern Precast Co. Ltd
COMPANY OVERVIEW
BPC produces all types of precast concrete for construction, ranging from pre-stressed
beams to gigantic segments for bridge construction located at CPC Bahra Industrial
Complex, constructed on an area of 840,000m2. The most important aims of the
complex are:
• Securing the self-sufficiency of requirements for improvement of Jamarat project and
it’s surrounding area.
• Quality assurance and ensuring the completion of the project within the time schedule.
• Securing the future requirements for the areas surrounding the sanctuary areas of
Makkah.
• Securing the requirements of the Kingdom of Saudi Arabia in general.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
HHR Project “Haramain High Speed Railway Project”, Jamarat, Sanctuary Areas of
Makkah.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
105,799
93,581
-12%
Total Assets
228,705
193,068
-16%
Current Liabilities
166,957
123,868
-26%
Total Liabilities
176,921
135,802
-23%
Total Equity
51,784
57,266
11%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
158,310
216,824
169,015
37%
Gross Profit
30,510
31,808
54,567
4%
Operating Income
4,434
5,160
12,100
16%
Net Income Before Zakat & Tax and Minority Interest
5,328
5,884
9,771
10%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
(2,664)
(2,942)
4,885
10%
Net Income
5,328
5,884
9,771
10%
06
Companies Overview
BAHRA STEEL COMPANY
RIYADH STEEL COMPANY
BSC
RSC
COMPANY OVERVIEW
BSC, established in 2005 and based in Jeddah, focuses on cutting and bending of
steel, production of wire mesh, and steel straightening.
RSC, established in 2008 as a spin-off from BSC and based in Riyadh, engages in the
production of construction related steel products.
Both companies provide customers with a variety of quality steel product and services
using state of the art equipment produced by leading European
manufacturers. Both companies provide service of factory-completed work such as
pre-assembled columns and beams to be transported to the project site and thereby
reducing on-site assembly time.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Mataf Expansion, KAUST “King Abdullah University of Science & Technology”, HHR
Project “Haramain High Speed Railway Project”, KAFD “King Abdullah Financial
District”.
BSC
FINANCIAL
RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
326,082
279,782
-14%
Total Assets
347,401
299,126
-14%
Current Liabilities
250,742
193,673
-23%
Total Liabilities
253,277
196,726
-22%
Total Equity
102,400
94,124
-8%
A2012
A2013
B2013
Growth (%)
Revenue
644,734
751,745
579,353
17%
Gross Profit
53,228
59,341
57,805
11%
Operating Income
39,174
43,969
49,101
12%
Net Income Before Zakat & Tax and Minority Interest
39,174
43,969
38,397
12%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
19,198
-
Net Income
39,174
43,969
38,397
12%
RSC
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
112,586
92,990
-17%
Total Assets
134,760
111,053
-18%
Current Liabilities
99,365
74,500
-25%
Total Liabilities
99,977
75,297
-25%
Total Equity
34,783
35,757
3%
Income Statement
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000's SAR
A2012
A2013
B2013
Revenue
166,300
187,135
187,483
13%
Gross Profit
27,179
14,048
21,207
-48%
Growth (%)
Operating Income
23,363
9,737
15,149
-58%
Net Income Before Zakat & Tax and Minority Interest
23,363
9,737
14,392
-58%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
23,363
9,737
14,392
-58%
2 3
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
000's SAR
06
Companies Overview
FACTORY FOR ASSEMBLY
OF MECHANICAL &
ELECTRICAL WORKS
COMPANY OVERVIEW
FAME is a limited liability Company established in 2009, and is specialized in the preEngineered solutions and Custom Made installations. The factory provides detailed
engineering ideas, solutions and detailed fabrication shop drawings for the:
• Assembled Panel Boards
• Manufactured Cable Trays and Metal works
• Custom Made piping, supports, rollers and steel frames.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Shamiyah “Makkah Haram”, KAIA “King Abdul Aziz International Airport”, Strategy Al
Mowahad “Ministry of Interior”, KSAU “King Saud Bin Abdul Aziz University for Health
Sciences”, Capital Market Authority “CMA”, Correctional Facilities, DOKAAE, Mataf
Expansion, Senegal Airport, KAFD “King Abdullah Financial District”, Princess Noura
University, Ministry of Interior.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Total Assets
37,608
37,371
Current Assets
29,706
Current Liabilities
33,659
Total Liabilities
34,608
Total Equity
3,000
Growth (%)
27,918
-6%
-1%
9,415
-72%
26,607
787%
10,763
-69%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Gross Profit
8,647
6,159
10,852
-29%
5,496
-34%
Revenue
Operating Income
Net Income Before Zakat & Tax and Minority Interest
Zakat & Tax
Minority Non-controlling interest
Net Income
55,546
5,322
5,360
-
5,360
58,122
3,338
3,522
-
3,522
61,241
6,916
-
3,682
5,496
5%
-37%
-
-34%
06
Companies Overview
MARBLE & GRANITE
INTERNATIONAL COMPANY
MGIC
COMPANY OVERVIEW
MGIC is a limited Liability company established in 1982 and is leading the industry in
the production and installation of marble and granite products.
Today, MGIC has 18 existing quarries, 7 new quarries with concessions pending,
and 7 prospective quarries. We operate the largest Middle Eastern stone producing
factory with highly experienced experts handling installation projects both within
Saudi Arabia and worldwide.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Mataf Expansion, Princess Noura University, HHR Project “Haramain High Speed
Railway Project”, Casablanca Palace “Morroco”, Royal Palace Riyadh.
FINANCIAL RESULTS
Balance Sheet
A2012
A2013
Growth (%)
485,199
423,375
-13%
Total Assets
912,128
849,586
-7%
Current Liabilities
457,915
472,315
3%
Total Liabilities
521,643
536,546
3%
Total Equity
390,485
313,040
-20%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
1,201,113
1,131,422
1,079,460
-6%
Gross Profit
306,157
304,437
345,554
-1%
Operating Income
243,557
245,127
241,610
1%
Net Income Before Zakat & Tax and Minority Interest
241,774
241,420
217,049
-
Zakat & Tax
(370)
(1,906)
-
415%
A n n u a l
Minority Non-controlling interest
(869)
309
-
-136%
Net Income
241,404
239,513
217,049
-1%
R e p o r t
2 0 1 3
2 5
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
000's SAR
Current Assets
06
Companies Overview
PRECAST MANUFACTURING
COMPANY
COMPANY OVERVIEW
PREMCO is a limited liability company established in 1991 and leads the construction
industry in manufacturing general contracting products, maintenance, decoration, and
renovation of residential and commercial precast buildings. PREMCO is recognized
for the exceptional quality in such products as precast concrete including hollow core
slabs, double tee slabs, wall frames, cladding panels and boundary walls. Our glass
fiber reinforced cement products are well known and highly demanded for decorative
elements. The lightweight Acotec wall panels offered at PREMCO are easily installed,
fire proof, and moisture resistant. PREMCO relies on the superior quality of its products
and commitment to customer service to continue growth in the construction industry
with exceptional quality products while remaining consistent, profitable and efficient.
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
625,445
536,010
776,029
-14%
126,977
-165%
33,208
-438%
OVERVIEW OF MAJOR COMPLETED AND
Gross Profit
37,440
(24,203)
ONGOING PROJECTS
Operating Income
14,495
(48,943)
Growth (%)
Mataf
Expansion,
KAUST
“King
Abdullah
HHR
Net Income
Before Zakat
& Tax and
Minority
Interest University
50,737 of Science
(26,573) & Technology”,
30,531
-152%
Project “Haramain
High
Speed Railway Project”,- Ministry of- Interior United
Command
Zakat
& Tax
Center, KAFHA
“King Abdullah
Foundation for Humanitarian
Minority Non-controlling
interest
- Activities”,
- Royal Palace
Riyadh.
Net Income
50,737
(26,573)
30,531
-152%
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
373,658
295,456
-21%
Total Assets
847,483
760,888
-10%
Current Liabilities
283,657
182,035
-36%
Total Liabilities
330,886
231,416
-30%
Total Equity
516,597
529,472
2%
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
625,445
536,010
776,029
-14%
Gross Profit
37,440
(24,203)
126,977
-165%
Growth (%)
Operating Income
14,495
(48,943)
33,208
-438%
Net Income Before Zakat & Tax and Minority Interest
50,737
(26,573)
30,531
-152%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
50,737
(26,573)
30,531
-152%
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
373,658
295,456
-21%
Total Assets
847,483
760,888
-10%
Current Liabilities
283,657
182,035
-36%
Total Liabilities
330,886
231,416
-30%
Total Equity
516,597
529,472
2%
06
Companies Overview
PREMCO READY MIX
COMPANY
COMPANY OVERVIEW
Premco Ready Mix Company is a limited liability company located in Jeddah and
was established in 2008 to accommodate the heavy demand of concrete for projects
throughout Saudi Arabia and neighboring countries.
Premco Ready Mix Company currently has an annual capacity of around 3,744,00 m3 of
different types and grades of concrete, with a facility that includes 15 batching plants.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Mataf Expansion, Princess Noura University, HHR Project “Haramain High Speed
Railway Project”, KAFHA “King Abdullah Foundation for Humanitarian Activities”.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
114,584
94,856
-17%
Total Assets
493,633
517,426
5%
Current Liabilities
174,941
448,984
157%
Total Liabilities
439,691
454,484
3%
Total Equity
53,942
62,942
17%
000's SAR
A2012
A2013
B2013
Revenue
673,161
669,208
607,649
-1%
Gross Profit
43,663
18,583
111,561
-57%
Growth (%)
Operating Income
23,570
3,555
35,320
-85%
Net Income Before Zakat & Tax and Minority Interest
30,321
15,420
28,521
-49%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
(9,096)
(4,626)
8,556
-49%
Net Income
30,321
15,420
28,521
-49%
A n n u a l
R e p o r t
2 0 1 3
2 7
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
06
Companies Overview
ROOTS STEEL
INTERNATIONAL
COMPANY
COMPANY OVERVIEW
Roots Steel is a joint venture of Construction Products Holding Company and Roots
Group Arabia to meet the growing demand for Pre-Engineered Buildings in the
Middle East and Africa. Established in 2008, the company is presently operating in
Saudi Arabia, UAE, Syria, and Egypt with manufacturing plants in Syria (2009), Egypt
(2010) & UAE (2010).
Roots Steel offers general contractors, builders and end-users customized, highperformance metal buildings systems and components for industrial, commercial
and institutional use. We provide design & detail engineering, project management,
manufacturing, erection and after-sales service.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Princess Noura University, KSAU “King Saud Bin Abdul Aziz University for Health
Sciences”, King Abdullah Foundation, KAIA “King Abdul Aziz International Airport”,
HHR Project “Haramain High Speed Railway Project”.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
105,313
215,324
104%
Total Assets
225,481
375,650
67%
Current Liabilities
148,545
304,201
105%
Total Liabilities
162,926
69,867
-57%
Total Equity
62,555
32,003
-49%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
153,453
462,173
581,976
201%
Gross Profit
40,022
40,880
69,524
2%
Operating Income
20,767
17,008
35,879
-18%
Net Income Before Zakat & Tax and Minority Interest
-
-
32,113
-
Zakat & Tax
(13)
(1,264)
-
9623%
Minority Non-controlling interest
-
(5,205)
14,708
-
Net Income
7,305
(10,610)
32,113
-245%
06
Companies Overview
UNITED ARAB ALUMINUM
COMPANY
COMPANY OVERVIEW
UAAC is one of the regions leading companies in the development, commercialization
and distribution of a wide range of high quality aluminum products, ranging from
window frames and shutters to frameless structural glazing. The company also offers
bespoke solutions to match the requirements of the most cutting edge projects.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Senegal Airport, Princess Noura University, KAUST “King Abdullah University of
Science & Technology”, HHR Project “Haramain High Speed Railway Project”,
Ministry of Interior United Command Center, KAFHA “King Abdullah Foundation for
Humanitarian Activities”, Casablanca Palace “Morroco”.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
175,586
270,381
54%
Total Assets
245,800
344,089
40%
Current Liabilities
134,688
272,196
102%
Total Liabilities
144,301
282,621
96%
Total Equity
101,499
61,468
-39%
000's SAR
A2012
A2013
B2013
Revenue
262,449
262,396
302,264
-
Gross Profit
5,516
(16,955)
34,854
-407%
Operating Income
(5,025)
(37,482)
3,909
646%
Net Income Before Zakat & Tax and Minority Interest
449
(35,814)
-
-8076%
A n n u a l
Growth (%)
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
(135)
(8,572)
947
6259%
Net Income
449
(35,814)
3,909
-8076%
R e p o r t
2 0 1 3
2 9
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
06
Companies Overview
SAUDI COMPANY FOR
DEVELOPMENT OF
CONSTRUCTION AND
TRADING
COMPANY OVERVIEW
Established in 1990 and based in Jeddah, Saudi Company for Development of
Construction and Trading (SACODECO) specializes in interior and exterior finishing
and decoration works including design, supply, application and installation for both
public and private clients.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Senegal Airport, Princess Noura University, KAUST “King Abdullah University of
Science & Technology”, Ministry of Interior United Command Center, Casablanca
Palace “Morroco”, Royal Palace Riyadh.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Current Assets
414,547
412,992
Growth (%)
-
Total Assets
574,705
587,606
2%
Current Liabilities
472,809
479,869
1%
Total Liabilities
514,705
527,606
3%
Total Equity
60,000
60,000
-
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
799,423
592,838
778,482
-26%
Gross Profit
183,925
158,186
214,006
-14%
Operating Income
137,663
114,685
155,102
-17%
Net Income Before Zakat & Tax and Minority Interest
153,908
121,935
142,693
-21%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
153,908
121,935
142,693
-21%
07
CHINA • EGYPT • QATAR • SYRIA • UAE
BUILDING MATERIAL
MANUFACTURING
International
Revenue
2012
2013
113,839
88,902
Net Income
2012
2013
(76,240)
(43,474)
07
Companies Overview
CHINA
GLOBAL NEW MATERIAL TECHNOLOGY (JI’AN) CO. LTD.
CPC owns a special high quality marble factory in Ji’an, China. With an investment
of 15,000,000 USD, the company is expanding its production capacity in a major
emerging market and will deliver its innovative building technologies more quickly
to the growing number of customers based in China, Saudi Arabia and the GCC
region.
The move is to invest in buying GNMT factory as part of the company’s ongoing
program to consolidate and optimize its global production network. China is a
positive investment environment, the availability of raw materials and the efficiency
of the Industry Park infrastructure, encouraged us to expand our Industrial Building
Material Manufacturing.
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
-
18,567
-
Total Assets
-
76,311
-
Current Liabilities
-
6,058
-
Total Liabilities
-
6,058
-
Total Equity
-
68,253
-
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
-
17,175
-
-
Gross Profit
-
6,136
-
-
Operating Income
-
(1,546)
-
-
Net Income Before Zakat & Tax and Minority Interest
-
(1,546)
-
-
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
-
(1,825)
-
-
07
Companies Overview
EGYPT
CPC - Egypt for Industrial Development Company is a member of Construction
Products Holding Company (CPC) a closed joint stock company registered under
the rules and regulations of the Kingdom of Saudi Arabia.
CPC’s Mission is to provide top quality services with a reasonable return on investment
to the shareholders, to provide our community with a safe and friendly working
environment, to maintain our employees’ compensation package at a level higher
than the local standards, and to build leadership services and brands in Industrial
sector markets around the world.
CPC - Egypt acquired 1,500,000 m2 of land in 6th of October City to construct the
first private Industrial park in Egypt, fully owned and managed by a private sector
company.
PREMCO EGYPT
Is a newly established company in the industrial area at 6th of October City – Egypt.
Premco precast produces a wide variety of precast concrete products and can even
design products to suit the unique requirements of individual clients.
PREMCO READY MIX EGYPT
A newly built domestic firm duly registered in the early 2009 in 6th of October City
– Egypt.
A n n u a l
R e p o r t
2 0 1 3
3 5
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
We are engaged in the production and manufacture of ready-mixed concrete to
provide the needs of the people particularly in the construction and engineering
sectors. One of the company’s objectives is to contribute to the imfrastructure
projects of both the private and government sectors as a supplier of superior readymix concrete in airfields/landing fields, roads, bridges, telecommunication lines,
transmission lines, water, oil & gas pumping stations, dams, reservoirs, ports and
harbors, residential and commercial buildings, hotels, private/residential villas and
other similar structures.
07
Companies Overview
UAAC EGYPT
[Company is under formation]
UAAC is one of the regions leading companies in the development, commercialization,
and distribution of a wide range of high quality aluminum products, ranging from
window frames and shutters to frameless structural glazing. The company also offers
bespoke solutions to match the requirements of the most cutting edge projects.
ROOTS STEEL EGYPT
Established in 2010, Roots Steel Egypt offers general contractors, builders and endusers customized, high-performance metal buildings systems and components for
industrial, commercial and institutional use. We provide design & detail engineering,
project management, manufacturing, erection and after-sales service.
CPC EGYPT - CONSOLIDATED (000’S EGP)
Balance Sheet
000's EGP
A2012
A2013
Growth (%)
Current Assets
205,880
327,386
59%
Total Assets
356,719
501,477
41%
Current Liabilities
169,329
224,891
33%
Total Liabilities
182,093
249,544
37%
Total Equity
174,626
251,933
44%
Income Statement
000's EGP
A2012
A2013
B2013
Growth (%)
Revenue
176,967
259,410
212,984
47%
Gross Profit
84,631
136,269
85,483
61%
Operating Income
77,020
123,436
69,522
60%
Net Income Before Zakat & Tax and Minority Interest
84,045
137,918
58,077
64%
Zakat & Tax
21,918
37,599
12152
72%
Minority Non-controlling interest
21,584
37,676
10502
75%
Net Income
62,127
100,319
45,925
61%
07
Companies Overview
QATAR
QD - CPC Incorporated in January 2011, Qatari Diar Construction Products Company
Industries W.L.L (‘QD - CPC Industries W.L.L’) has established a series of innovative,
market penetrating, Qatar-based building materials manufacturing facilities which
will become the “complete building solution” for their clients.
Today, QD - CPC Industries W.L.L owns and manages the wholly owned operating
building materials factories engaged in the related business segments. On an area
of 200,000 square meters as an initial phase, QD - CPC Industries has its Industrial
Complex located in Mesaieed Industrial Area.
The objective behind the QD - CPC investment is to establish a “Complete Building
Solution” as an integrated building materials manufacturing company in Qatar,
which will capitalize on the growth opportunities emerging in the Qatari Real
Estate Development and Construction sector. Ultimately, we aim to build customer
preference achieving the status of a key player in Qatar’s building materials industry
over loyalty and gain market the next five years.
PREMCO READY MIX
QD - CPC, as well, owns “Premco Ready Mix Concrete”, which is built on an area of
20,000 square meters on Dokhan road, at a cost of QR 40 million. The plant has been
operating since September 2012 with a production capacity of 240 cubic meters per
hour.
PREMCO Ready Mix produces different types and grades of high quality concrete,
super structure, sub-structure, mass and light-weight, using standard cementitious
materials, GGBS, microsilica, fly ash and aggregate.
NATIONAL ASPHALT COMPANY
The company also owns the National Asphalt Factory (NAF), which is built on an area
of 10,000 square meters on Dokhan road at a cost of QR14 million. The plant has
been operating since September 2012 with a production capacity of 240 tons/hour.
2. WEARING COURSE ( SCT2-)
The top of road but for heavy traffic, STC2 is more courses which is in contact directly
with the wheel of vehicle and heavy vehicle.
3. INTERMIDIATE COURSE (BCT1-)
1) In asphaltic concrete paving, an intermediate course between the course base
and the surfacing material; consists of intermediate-size aggregate bound by
bituminous material.
2) A row of masonry units laid between, and used to bind, an inner and an outer wall.
4. BASE COURSE (IC1-)
Base Course is the layer immediately under the wearing surface (Applies whether
the wearing surface is bituminous or cement concrete and or more inch thick or is
but a thin bituminous layer). As base course lies close under the pavement surface
it is subjected to severe loading. The material in a base course must be of extremely
high quality and its construction must be done carefully.
A n n u a l
R e p o r t
2 0 1 3
3 7
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
1. WEARING COURSE ( SCT1-)
The top layers of pavement which is in direct contact with the wheel of the vehicle.
Usually constructed of material in which bitumen is used as binder materials.
07
Companies Overview
PREMCO PRECAST QATAR
CPC - Qatar complex at the Mesaieed industrial zone accommodates four factories
including “PREMCO for Precast Concrete” which is built on an area of 77,682
square meters, at a cost of QR120 million, and started production in October 2013.
Production capacity of the plant is 450 slabs daily, plus 750 walls and other precast
concrete products.
Premco Precast Qatar design, produce and erect the following precast elements
with grey cement & Pigmented finished:
Precast and Pre-stressed Beams/ Precast Columns/ Staircase/ Load Bearing Wall/
Foundations/ Decorative members/ Load and non-load bearing members/ Prestressed and Post-Tensioned Beams and Columns/ Pre-stressed Hollow Core Slabs/
Cladding Panels/ Solid Panels/ Sandwich Panels/ Insulated Panels
UNITED ARAB ALUMINUM COMPANY
The complex accommodates also the United Arabian Aluminum Company (UAAC),
which was built on an area of 25304 square meters at a cost of QD30 million, and
started production in November 2013. The aluminum factory consists of production
lines to manufacture a wide range of aluminum products tailored to suit all construction
requirements such as walls, cladding, doors and windows.
UAAC produces various products using the latest technology including aluminum
doors, windows, shop fronts, louvers, sunshades, rolling shutters, venetian blinds,
conventional & structural glazed curtain walls, frameless structural glazing, sky lights,
vaults, domes, verandas, hand rails, balustrades, automatic sliding and revolting
doors...etc.
UNITED ARAB GLASS COMPANY
The complex also includes the United Arab Glass Company (UAGC) on an area
of 20000 square meters at a cost of QD25 million, and production work will start in
mid-June 2014. The plant will have specialized production lines for all kinds of glass
(normal and formed), processed and bullet-proof glass.
SACODECO QATAR
SACODECO plant was built on an area of 38,235 square meters at a cost of QR30
million. The plant has several production lines for producing furniture, doors, kitchen
cabinets, walls cladding, false ceilings, finishing products, interior decoration and
hotel furniture. Starting operation on July 2014.
QD-CPC - CONSOLIDATED (000’S QR)
Balance Sheet
000's QR
A2012
A2013
Growth (%)
Current Assets
114,736
77,581
-32%
Total Assets
187,367
246,737
32%
Current Liabilities
4,888
38,925
696%
Total Liabilities
5,308
74,080
1296%
Total Equity
182,059
172,657
-5%
Income Statement
000's QR
A2012
A2013
B2013
Growth (%)
Revenue
7,593
93,531
169,398
1132%
Gross Profit
(3,616)
2,319
28,453
-164%
Operating Income
(9,960)
(9,402)
7,663
-6%
Net Income Before Zakat & Tax and Minority Interest
(9,960)
(9,402)
7,663
-6%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
5,939
-
Net Income
(9,960)
(9,402)
7,663
-6%
07
Companies Overview
SYRIA
CPC - Syria Holding Company was established in July 2007 with Saudi-Syrian
investors, for the purpose of setting up factories in the Syrian territory producing
various building materials.
The factories as a general statement can be named as “One Stop Shop” for all
your building materials supplies.
The factories are not operating, due to the current political situation in Syria.
PREMCO SYRIA
Premco is a division of CPC-Syria, which is part of CPC Saudi Arabia and throughout
the region, CPC Syria was created to provide a local presence and enable the
company to provide better, more efficient service in the country.
Our product range is as broad as our experience in the industry. At Premco, our
products are our strength and it counts from start to finish with every project. Our
service is complete and covers each and every aspect of precast products, from
design and manufacturing, through to installation on site. We offer a wide variety of
precast products and continue to diversify our line to meet today’s ever changing
design demands.
NATIONAL READY MIX HOMS
National Ready Mix plant is built on an area of 48,000 M2 and is equipped with one
batching plant with 100 Cu. M. per hour capacity.
This batching plant is imported from the Turkish manufacturer GURIS known worldwide
for its accuracy, fast delivery and effectiveness. This plant work with SKIP system and
is provided with a humidity sensor which gives a consistent and distinguished mix.
UAAC SYRIA
A n n u a l
R e p o r t
2 0 1 3
3 9
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
With extensive experience in the building industry, UAAC is one of the Middle East
leaders in the development, commercialization and distribution of high quality
aluminum systems for windows, doors, sliding elements, curtain walls, conservatories
and sun screening systems. UAAC systems provide solutions for residential, palaces
and commercial projects including high rise buildings. Our research approach allows
us to regularly extend our product range by offering solutions that are suitable for local
markets together with our strategic German Partners in the Middle East (GUTMANN).
UAAC also provides bespoke solutions for architects and consultants requiring nonstandard system and profiles (Tailor Made).
07
Companies Overview
BSC SYRIA
At Bahra Steel our philosophy is creative and customer oriented. We put our
experience into helping our customers build a structural project with no hassle. We
treat our customer’s project as our own. This combined sense of quality and integrity
has made Bahra Steel an industry leader in construction materials. Giving your project
to a specialist in the business saves you time and money. Bahra Steel company will
work as a partner with you to study the best way to help you in completing your
project in the most economical way.
CPC SYRIA - CONSOLIDATED (000’S USD)
Balance Sheet
000's USD
A2012
A2013
Growth (%)
Current Assets
17,666
6,016
-66%
Total Assets
77,269
29,247
-62%
Current Liabilities
38,444
15,592
-59%
Total Liabilities
42,444
15,604
-63%
Total Equity
34,825
13,643
-61%
Income Statement
000's USD
A2012
A2013
B2013
Growth (%)
Revenue
6,377
9,475
14,000
49%
Gross Profit
2,390
3,445
(3,226)
44%
Operating Income
(4,309)
(6,591)
(14,772)
53%
Net Income Before Zakat & Tax and Minority Interest
(4,309)
(6,591)
(14,772)
53%
Zakat & Tax
(268)
(700)
-
161%
Minority Non-controlling interest
-
-
(1,030)
-
Net Income
(18,745)
(10,321)
(14,772)
-45%
07
Companies Overview
UAE
TECHNOCAST UAE
Established in 2006, Techno Cast Precast (TCP) is now one of the UAE’s most
respected independent suppliers of precast concrete products to the construction
industry. Our service is complete and covers each and every aspect of precast
concrete products, from design, manufacturing and testing, through to installation
on site.
Production at our manufacturing plant is carried out using the most modern of
methods and equipment for our range of pre-stressed concrete products and precast
concrete products, ensuring that the highest standards of quality are achieved. As an
independent company we have enjoyed planned, consistent growth and have built
up an enviable reputation for the quality of our products and excellent relationships
with our customers.
Balance Sheet
000's AED
A2012
A2013
Growth (%)
Current Assets
59,182
262,005
343%
Total Assets
338,042
292,289
-14%
Current Liabilities
37,861
37,778
-
Total Liabilities
42,472
40,959
-4%
Total Equity
249,816
297,083
19%
Income Statement
A2012
A2013
B2013
Growth (%)
Revenue
47,701
34,449
57,772
-28%
Gross Profit
10,706
3,470
14,009
-68%
Operating Income
(1,750)
108,683
(46)
-6310%
Net Income Before Zakat & Tax and Minority Interest
(1,750)
108,683
(204)
-6310%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
(9,275)
108,683
(204)
-1272%
A n n u a l
R e p o r t
2 0 1 3
4 1
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
000's AED
08
AXAL ARABIA • EMPOWER • FAST • FIRST
VISION • HARAMAIN GATE • VISION
NETWORKS • MTTS • ORASCOM • RENTAL
EQUIPMENT • VISION • HUTA
CONSTRUCTION
SERVICES
Saudi Arabia
Revenue
2012
2013
Net Income
6,502,948
5,855,663
2012
2013
509,340
528,108
08
Companies Overview
AXAL ARABIA FOR
CONSTRUCTION COMPANY
COMPANY OVERVIEW
Axal Arabia for Construction Company was established in 2007 and headquartered in
Jeddah.
AXAL Arabia is a general construction contractors specialized in residential, commercial,
entertainment, operation, renovation and building maintenance, roads and grounds.
Active across all regions of the Kingdom of Saudi Arabia, working with the government
and highly recognized firms to design, build, and maintain many of the Kingdom's most
complex and challenging projects.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
KAIA “King Abdul Aziz International Airport”, Strategy Al Mowahad “Ministry of
Interior”, National Guard, Correctional Facilities, Princess Noura University, Royal
Palace Riyadh.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
293,826
174,895
-40%
Total Assets
332,902
201,933
-39%
Current Liabilities
249,099
176,895
-29%
Total Liabilities
256,399
186,933
-27%
Total Equity
76,503
15,000
-80%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
732,681
514,244
594,541
-30%
Gross Profit
47,786
37,661
71,904
-21%
Operating Income
30,242
22,082
46,941
-27%
Net Income Before Zakat & Tax and Minority Interest
33,188
22,438
42,247
-32%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
16,899
-
Net Income
33,188
22,438
42,247
-32%
08
Companies Overview
EMPOWER
CONTRACTING
COMPANY OVERVIEW
We provide electrical, mechanical, low current and clinical engineering turn-key
solutions for all types of commercial buildings (hospitals, educational institutions, hotels,
residential) along with all infrastructure requirements (central cooling/heating, water
supply, water treatment, sewage treatment and power generation). Our main focus is
in the health-care sector. We are in the process of completing the construction of the
largest hospital in the Kingdom of Saudi Arabia (200,000 m2 built-up area – 560 beds –
16 Operation Theatres) and are in the engineering process of various new hospitals in
both the eastern and western regions.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Princess Noura University, KSAU “King Saud Bin Abdul Aziz University for Health
Sciences”.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
134,835
182,774
-37%
Total Assets
137,604
186,032
-35%
Current Liabilities
86,073
131,365
-37%
Total Liabilities
89,133
135,990
-37%
Total Equity
48,471
50,042
-30%
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
328,481
195,273
500,000
-41%
Gross Profit
35,511
22,594
58,942
-36%
Operating Income
23,567
2,848
52,647
-88%
Net Income Before Zakat & Tax and Minority Interest
23,567
2,848
50,015
-88%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
29,309
-
Net Income
23,567
2,848
50,015
-88%
A n n u a l
R e p o r t
2 0 1 3
4 5
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
08
Companies Overview
FAST FINISHING
CONTRACTING COMPANY
COMPANY OVERVIEW
FAST is a limited liability company based in Jeddah and was established in 2009.
FAST specializes in interior and exterior finishing and decoration works including
design, supply, application and installation for both public and private clients.
Key Products/ Services:
• Gypsum installation for interior and exterior design
• Wood works including doors and windows, wardrobes, kitchen cabinets, wooden
flooring, wall cladding
• Hotel Furnishing including installation of carpets, lightning and ceramics
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Shamiyah “Makkah Haram”, KAIA “King Abdul Aziz International Airport”, KSAU “King
Saud Bin Abdul Aziz University for Health Sciences”, Security Buildings, DOKAAE,
Mataf Expansion, KAUST “King Abdullah University of Science & Technology”,
Makkah Clock, HHR Project “Haramain High Speed Railway Project”, Ministry of
Interior, Haram First Ring Road.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
187,995
189,188
1%
Total Assets
216,451
231,861
7%
Current Liabilities
195,793
200,825
3%
Total Liabilities
213,451
228,861
7%
Total Equity
3,000
3,000
-
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
315,755
350,155
308,074
Growth (%)
11%
Gross Profit
58,945
42,068
44,912
-29%
Operating Income
48,909
34,181
35,920
-30%
Net Income Before Zakat & Tax and Minority Interest
48,909
34,181
33,047
-30%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
48,909
34,181
33,047
-30%
08
Companies Overview
FIRST VISION COMPANY
FOR RENEWABLE
ENERGY SYSTEMS
First Vision Company
‫دة‬
for Renewable Energy Systems
A Green Vision
COMPANY OVERVIEW
First Vision Company is a specialized company providing turnkey solutions for utility
and commercial scale energy projects. The company provides engineering, design,
supply, installation and commissioning for a variety of renewable energy systems
related to solar energy.
We have established strong relations with international partners with a wide range
of expertise in different technologies for utility scale and commercial solar projects
across the world, to ensure delivery of the optimum solar solutions and systems for
different types of projects, in order to best serve our clients in the Middle East and
Saudi Arabia.
FINANCIAL RESULTS
Balance Sheet
A2012
A2013
274
366
Growth (%)
34%
Total Assets
2,735
2,006
-27%
Current Liabilities
1,980
933
-53%
Total Liabilities
2,057
1,018
-51%
Total Equity
678
989
46%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
-
360
21,540
-
Gross Profit
-
44
1,123
-
Operating Income
(131)
(2,854)
630
2079%
Net Income Before Zakat & Tax and Minority Interest
(131)
(2,854)
586
2079%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
228
-
Net Income
(131)
(2,854)
586
2079%
A n n u a l
R e p o r t
2 0 1 3
4 7
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
000's SAR
Current Assets
08
Companies Overview
HARAMAIN GATE
HARAMAIN GATE
For Construction LLC
COMPANY OVERVIEW
Haramain Gate Company “HGC” was established in 2007 and headquartered in
Jeddah.
HGC is specialized mainly in Civil, concrete & steel structure works in addition to the
execution of finishing & E/M works Senior management of HGC focuses on delivering
construction, price competitiveness on a timely fashion, with professional integrity
& business ethics that constitute the foundation of our operations & is continuing to
prosper.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Shamiyah “Makkah Haram”, KAIA “King Abdul Aziz International Airport”, Strategy
Al Mowahad “Ministry of Interior”, KSAU “King Saud Bin Abdul Aziz University for
Health Sciences”, National Guard, Security Buildings, Correctional Facilities, Mataf
Expansion, Royal Palace Riyadh, Haram First Ring Road.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
126,433
124,526
-2%
Total Assets
180,398
172,381
-4%
Current Liabilities
159,770
148,013
-7%
Total Liabilities
165,398
157,381
-5%
Total Equity
15,000
15,000
-
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
640,408
815,118
763,133
27%
Gross Profit
45,572
60,758
50,253
33%
Operating Income
28,041
43,346
28,889
55%
Net Income Before Zakat & Tax and Minority Interest
52,238
58,103
26,000
11%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
10,400
-
Net Income
52,238
58,103
26,000
11%
08
Companies Overview
VISION
NETWORKS COMPANY
COMPANY OVERVIEW
Vision Networks Co. is a leading general construction contractor based in Jeddah and
specialized in underground utility and earthwork services.
Vision Networks Co. is your complete solution for all phases of underground utility
installation and construction, street lighting installation & maintenance, subsurface
utility engineering, sewerage installation & rehabilitation, storm water installation and
restoration, and cable laying for power & communication networks.
Vision Networks Co. offers its services to both public & private sectors and has a
professional team that can attend to projects all over the Kingdom of Saudi Arabia
and into the Gulf Countries.
Vision Networks Co. is a company of the CPC Group and a member of the Binladen
Group of Companies.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
85,222
45,488
-47%
Total Assets
104,952
71,109
-32%
Current Liabilities
85,088
76,910
-10%
Total Liabilities
86,261
78,895
-9%
Total Equity
18,691
(7,786)
-142%
000's SAR
A2012
A2013
B2013
Revenue
152,902
130,337
310,504
Growth (%)
-15%
Gross Profit
7,133
(20,544)
31,830
-388%
Operating Income
525
(26,428)
20,016
-5134%
Net Income Before Zakat & Tax and Minority Interest
525
(26,428)
16,163
-5134%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
5,221
-
Net Income
525
(26,428)
16,163
-5134%
A n n u a l
R e p o r t
2 0 1 3
4 9
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
08
Companies Overview
MODERN TIMES
TECHNICAL SYSTEMS
COMPANY OVERVIEW
Since its inception in 1999, Modern Times Technical Systems (MTTS) is dedicated to
bringing its clients the latest in technology & services.
MTTS is the System Solutions House providing highly specialized solutions to be
implemented in clients’ projects in the following areas:
• Automation & Security Systems
• Environmental Products
• Water Systems
• Pipes & Drainage Systems
• Renewable Energy
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Jamarat, King Abdul Aziz Endowment Project, KAFD “King Abdullah Financial
District”, KSAU “King Saud Bin Abdul Aziz University for Health Sciences”, Princess
Noura University, KAUST “King Abdullah University of Science & Technology”,
Fairmont Hotel – Makkah.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
96,230
94,094
-2%
Total Assets
99,105
96,766
-2%
Current Liabilities
94,383
49,694
-47%
Total Liabilities
98,346
54,903
-44%
Total Equity
759
41,863
5416%
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
148,980
138,751
179,003
Growth (%)
-7%
Gross Profit
40,427
35,079
45,709
-13%
Operating Income
16,416
5,772
23,428
-65%
Net Income Before Zakat & Tax and Minority Interest
17,398
5,660
21,085
-67%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
13,988
-
Net Income
17,398
5,660
21,085
-67%
08
Companies Overview
ORASCOM
COMPANY OVERVIEW
King Abdul‐Aziz International Airport development project (KAIA) is a massive
development.The development is divided into 3 phases. The first phase includes
construction of new terminal complex 400,000 sq.m., replacing existing North and
South Terminals, construction of 42 contact gates with air bridges, and construction
of new control tower, communications and Navigations System. The development will
also include construction of new elevated access roads, interchanges and landside
developments, new taxiways, and major new utilities networks (Power, Water,etc).
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
KAIA “King Abdul Aziz International Airport”, SANG “National Guard Housing Project”.
FINANCIAL RESULTS
Balance Sheet
A2012
A2013
Growth (%)
222,993
597,381
168%
Total Assets
370,995
746,268
101%
Current Liabilities
309,908
557,816
80%
Total Liabilities
312,462
644,517
106%
Total Equity
58,532
101,751
74%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
256,555
818,734
1,538,866
219%
Gross Profit
24,279
96,885
184,409
299%
Operating Income
3,517
60,642
146,506
1624%
Net Income Before Zakat & Tax and Minority Interest
3,423
50,981
146,506
1389%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
117,205
-
Net Income
3,423
50,981
146,506
1389%
A n n u a l
R e p o r t
2 0 1 3
5 1
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
000's SAR
Current Assets
08
Companies Overview
RENTAL EQUIPMENT
COMPANY
COMPANY OVERVIEW
Established in 2009 and based in Jeddah, Rental Equipment focuses on rental of
construction equipment as well as wholesale and retail trading in motor vehicles,
trucks and car equipment.
98% owned by CPC Holding.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Shamiyah “Makkah Haram”, KAIA “King Abdul Aziz International Airport”, Strategy Al
Mowahad “Ministry of Interior” , KSAU “King Saud Bin Abdul Aziz University for Health
Sciences”, CMA “Capital Market Authority”, National Guard, Security Buildings,
Correctional Facilities, DOKAAE, Mataf Expansion, Kingdom Tower, Princess Noura
University, KAUST “King Abdullah University of Science & Technology”, Makkah
Clock, HHR Project “Haramain High Speed Railway Project”, Ministry of Interior United
Command Center, Royal Palace Riyadh, Haram First Ring Road.
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
619,039
567,658
-8%
Total Assets
1,963,373
1,872,846
-5%
Current Liabilities
1,380,926
1,056,356
-24%
Total Liabilities
1,388,164
1,065,687
-23%
Total Equity
575,209
807,159
40%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
593,746
840,204
638,782
42%
Gross Profit
137,906
272,216
433,829
97%
Operating Income
131,182
254,027
122,065
94%
Net Income Before Zakat & Tax and Minority Interest
132,810
254,350
121,065
92%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
132,810
254,350
121,065
92%
08
Companies Overview
VISION ELECTRO
MECHANICAL COMPANY
COMPANY OVERVIEW
Established in 2007 in Bahra, Saudi Arabia. Vision specializes in Electro-Mechanical
works, and is an advanced limited liability contracting company serving the construction
industry. It was established to meet the need of the increased market demand for the
Mega projects in Saudi Arabia specialized in providing complete engineering and
construction services for key electro-mechanical projects.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
Senegal Airport, Princess Noura University, KAUST “King Abdullah University of
Science & Technology”.
FINANCIAL RESULTS
Balance Sheet
A2012
A2013
Growth (%)
1,532,514
1,447,626
-6%
Total Assets
1,650,134
1,575,770
-5%
Current Liabilities
1,262,278
1,193,614
-5%
Total Liabilities
1,295,836
1,243,616
-4%
Total Equity
354,298
332,154
-6%
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
2,445,434
2,167,980
3,269,743
-11%
Gross Profit
7,163
40,515
59,773
466%
Growth (%)
Operating Income
525
15,228
14,117
2801%
Net Income Before Zakat & Tax and Minority Interest
28,589
19,381
14,117
-32%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
4,800
-
Net Income
28,589
19,381
14,117
-32%
A n n u a l
R e p o r t
2 0 1 3
5 3
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
000's SAR
Current Assets
08
Companies Overview
HUTA FOUNDATION
WORKS COMPANY
COMPANY OVERVIEW
HUTA Foundation is a limited liability company that was established in 2009, and
headquartered in Jeddah, Saudi Arabia. HUTA Foundation is considered to be one
of the leading foundation construction companies in the Kingdom of Saudi Arabia.
HUTA Foundation employs a large number of employees and owns an important fleet
of Foundation construction equipment. The diverse fleet of Piling Rigs, Anchoring
Machines and other Foundation’s equipment provide the capability to execute all kind
of Foundation Works such as: Bored Piles, Ground Water Control, Sheet Pile Wall,
Diaphragm and Cut-off Walls, Micro Piles, Ground Anchors, Ground Improvement,
Steel Piles, High Pressure Soil Injection, Mix-in-Place Method, Permeation Grouting,
Dynamic Compaction.
OVERVIEW OF MAJOR COMPLETED AND
ONGOING PROJECTS
KAFHA “King Abdullah Foundation for Humanitarian Activities”, KAIA “King Abdul
Aziz International Airport”, Shamiyah “Makkah Haram”, Umm AlQura Ring Road, FlyOver Bridge for Sports City.
FINANCIAL RESULTS
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
183,482
115,688
-37%
Total Assets
285,143
215,490
-24%
Current Liabilities
147,546
74,629
-49%
Total Liabilities
150,254
78,038
-48%
Total Equity
134,889
137,451
2%
Income Statement
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
460,683
209,893
211,977
-54%
Gross Profit
74,870
38,356
53,893
-49%
Operating Income
56,937
25,622
28,767
-55%
Net Income Before Zakat & Tax and Minority Interest
56,937
25,622
24,452
-55%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
(28,184)
(12,683)
12,104
-55%
Net Income
56,937
25,622
24,452
-55%
09
EGYPT • INDIA • QATAR
CONSTRUCTION
SERVICES
International
Revenue
2012
2013
95,221
140,691
Net Income
2012
2013
23,132
150,191
09
Companies Overview
EGYPT
FOCUS ENGINEERING
Focus Engineering Services started in Cairo, Egypt as part of SBG on September
2003. Its role was primarily to review the designs performed by Dar Al Handassah for
projects under construction by Saudi Binladen Group in Saudi Arabia. This included
Architectural, Structural, MEP, Pre-Cast as well as all specialty issues.
FOCUS MANAGEMENT
Focus Management & Development established in January 2010, by CPC Holding
for Investment – Egypt.
Focus started in seventh category, now we are in the fifth category.
Focus will have completed by the end of the current year projects totaling EGP
100,000,000.
Scope of works
• Project Management and Technical Support for residential, commercial and
industrial projects.
• Value engineering and cost control.
• Construction works for industrial buildings and warehouses.
• Construction works for administration and residential buildings.
• All types of finishes and decorations.
• Infrastructure works, road works and landscaping works.
• Mechanical, electrical, water supply and drainage works.
• Fire fighting, fire alarm and HVAC.
09
Companies Overview
CPC INDUSTRIAL DEVELOPMENT
CPC Egypt for Industrial Development was established in 2007 to introduce and
develop the concept of Industrial Parks in Egypt.
The total area of the land acquired was1,500,000 m2 in the city of the 6th of October to
create the first Industrial Park in Egypt to be fully owned by the private sector.
CPC takes pride in providing investors with high quality services based on international
standards, which facilitate the establishment of their operation in Egypt. We also offer
customizing services to suit our clients’ needs, in addition to a broad spectrum of
development capabilities for industrial facilities, and competitive operational costs.
On the 9th of March 2008 “CPC Egypt Private Industrial Park” acquired the status of a
Private Investment Zone.
CPC EGYPT - CONSOLIDATED
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
205,880
327,386
59%
Total Assets
356,719
501,477
41%
Current Liabilities
169,329
224,891
33%
174,626
251,933
44%
Total Liabilities
Total Equity
000's SAR
A2012
A2013
B2013
Growth (%)
Revenue
176,967
259,410
-
47%
Gross Profit
84,631
136,269
-
61%
Operating Income
77,020
123,436
-
60%
Net Income Before Zakat & Tax and Minority Interest
84,045
137,918
-
64%
Zakat & Tax
21,918
37,598
-
72%
Minority Non-controlling interest
21,583
37,676
-
75%
Net Income
62,127
100,319
-
61%
A n n u a l
R e p o r t
2 0 1 3
5 9
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Income Statement
09
Companies Overview
INDIA
PREFERRED ENGINEERING INDIA
To cope with the available projects, a sister company has been established recently
in Pune, India employing 60 Engineers and draftsmen with the capacity to expand
up to 200. The company in Pune is under the name: Preferred Engineering Pvt. Ltd.
which is running under supervision of Focus Engineering for quality assurance.
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
117,364
23,607
-80%
Total Assets
133,529
56,925
-57%
Current Liabilities
95,389
406
-100%
Total Liabilities
96,635
1,198
-99%
Total Equity
36,894
55,727
51%
Income Statement
000's SAR
A2012
A2013
B2013
Revenue
2,386
2,450
-
3%
Gross Profit
676
628
-
-7%
Growth (%)
Operating Income
250
502
-
101%
Net Income Before Zakat & Tax and Minority Interest
250
502
-
101%
Zakat & Tax
-
200
-
-
Minority Non-controlling interest
125
116
-
-
Net Income
250
302
-
21%
09
Companies Overview
QATAR
VISION QATAR
Advanced Vision Electro-Mechanical Company is a limited liability contracting company
established in Qatar since 2011 and serving the construction industry. The company
was established to meet the needs of increased market demands for the Mega projects
and is specialized in providing complete Engineering and construction services for
Electro-Mechanical works.
Advanced Vision is one of the elite group of companies under the umbrella of Construction
Products Holding Company (CPC).
Since establishment, the company achieved a recognized and certified fast growth.
Advanced Vision Qatar is currently working on two of the biggest projects in Qatar:
Khalifa Avenue and the ISF (Internal Security Forces) Camp. Today, Advanced Vision is
one of the leading MEP contractors in Qatar.
Our scope of work covers (but not only): Mechanical Works, Electrical Works, Low
Current Systems and Infrastructural Works.
Balance Sheet
000's SAR
A2012
A2013
Growth (%)
Current Assets
39,188
78,630
101%
Total Assets
40,703
80,761
98%
Current Liabilities
40,592
80,154
97%
Total Liabilities
40,860
80,716
98%
Total Equity
(153)
43
-128%
Income Statement
A2012
A2013
B2013
Growth (%)
Revenue
10,538
65,218
5,532
519%
Gross Profit
-
1,486
4,557
-
Operating Income
58
(3,418)
-
-5993%
Net Income Before Zakat & Tax and Minority Interest
58
(3,418)
-
-5993%
Zakat & Tax
-
-
-
-
Minority Non-controlling interest
-
-
-
-
Net Income
58
(3,418)
-
-5993%
A n n u a l
R e p o r t
2 0 1 3
6 1
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
000's SAR
10
SUSTAINABLE
DEVELOPMENT
10
S u s t a i n a bl e
D eve l o p m e n t
Disclosure on Management Approach:
At CPC we have long realized that our business has an impact on the
economy, society, and the environment. Now we believe that the time is
right to start a dialogue on how we can incorporate sustainability concepts
into the core of our business. Therefore, we have decided to adopt a
sustainability agenda across our business not only to meet our project
necessities but also to be our engine for growth as a strong business
strategy.
Focusing on sustainability in construction will help us make our brand
stronger and enhance our risk management approach. Our commitment to
sustainability highlights CPC’s objective of being the number one choice to
employees and partners with whom we want to share our personal values
and growth. As a market leader in our industry, specifically in a developing
country where construction companies are key players in the market, CPC
recognizes the importance of our role in sustainability and in creating
solutions for pressing development challenges facing our community. We
take this responsibility on with pride and try and reflect that in the way we
manage our business; the areas we focus our investments in; the approach
we take to developing local talents’ and of course the way we support our
community and protect the environment.
SUSTAINABLE
DEVELOPMENT/ CSR
Strengthening our Community:
A Sustainability Development Report was published in 2013 to reflect the commitment of CPC
and how it became increasingly more engaged in strategic and measurable CSR, focusing
on key issues of significance to our stakeholders and of relevance to our business. Based on
our current market outreach, we have to date focused our activities around governance, talent
development, job creation, and community service, with consideration to raising environmental
awareness. We believe that we are at the beginning of the journey and we have yet to learn
more and surely give more.
We have impacted the lives of millions of people by creating more than 7,000 jobs for local
talents through our subsidiaries. Yet, we have faced so many challenges during the last 4
years and we aim to address those challenges with a renewed sense of commitment that we
can only do with your encouragement and support to Education, Health, Youth Welfare and
Environment.
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
6 5
10
YH
SUSTAINABLE DEVELOPMENT
S
YOUTH
WELFARE
EDUCATION
ENVIRONMENT
E
NVIRONMENT
HEALTH
H
EALTH
S u s t a i n a bl e
D eve l o p m e n t
D
As part of CPC’s strategy in its continuous dedication towards its community,
and as a reflection of being awarded a “B” classification from the Global
Reporting Initiative (GRI), CPC focused on five fundamental values by
providing support to the following organizations.
Education:
• Sponsoring the fifth Winter Enrichment Program at KAUST.
• Organizing annual summer training programs for female students
at CPC facilities.
• Establishing a scholarship fund with Effat University.
• Sponsoring environmental research for female students at Dar
Alhekma University.
Health:
• United Nations World Food Program.
• Bill & Melinda Gates Foundation (SHEFA Fund).
• The Neonate Fund.
•
Help Center.
Youth Welfare:
• Support of the first female delegation to United Nations Conference
on Sustainable Development (RIO + 20).
• Human Resources Development Fund.
• Saudi Falcons Racing Team.
• Middle East Motorsports Management.
Environment:
• Financial support to “Our Water… Our Life” initiative.
• Establishment of a Green Vision Company specialized in renewable
energy systems.
• Sponsorship of Green Building awareness.
Sustainable Development:
• Industrial Partner of the World Economic Forum.
• Founding member of Pearl Initiative (Not for Profit Organization).
• Reporting CSR activities to the Global Reporting Initiative.
• Participant of the United Nation Global Compact.
SUPPORT TOWARDS
SUSTAINABLE DEVELOPMENT
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
CPC Corporate Social Responsibility believes “We must invest in the
communities in which we work in”…
A n n u a l
R e p o r t
2 0 1 3
6 7
11
Financial Results
• Financial Statements
• Zakat & Statutory Payments
• Dividend Policy
11
Financial Results
Income Statement
(Consolidated)
Construction Products Holding Company
Income Statement
2009
2010
2011
2012
2013
Revenue
5,204,689
7,939,797
9,589,656
11,335,254
11,786,052
Cost of Sales
4,427,233
6,670,580
8,089,961
9,952,793
10,404,930
Gross Profit
777,456
1,269,217
1,499,695
1,382,461
1,381,122
Operating Income
438,095
794,814
797,745
825,222
757,496
Net Income
452,142
562,897
760,061
775,294
811,975
000's SAR
Financial statements
Balance Sheet
(Consolidated)
Construction Products Holding Company
Balance Sheet
2009
2010
2011
2012
2013
Current Assets
2,809,538
3,168,726
5,565,972
6,745,544
7,278,169
Total Assets
6,173,564
7,493,919
9,860,224
11,416,067
11,688,956
Current Liabilities
2,722,589
2,876,682
5,462,162
6,941,317
7,400,587
Total Liabilities
4,854,342
5,467,622
7,257,338
8,492,325
8,277,191
Total Equity
1,319,222
2,026,297
2,602,906
2,923,742
3,411,765
000's SAR
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
7 1
11
Financial Results
Income Statement
(Consolidated)
Construction Products Holding Company
Detailed Income Statement
Growth
2012
2013
Contracts revenue
8,668,513
6,824,189
-21%
Sales
1,987,510
3,981,289
100%
44%
000's SAR
Service revenue
679,231
980,574
Total Revenue
11,335,254
11,786,052
4%
Contracts cost
(7,840,014)
(6,075,621)
-23%
Cost of Sales
(1,615,914)
(3,694,764)
129%
Service cost
(496,865)
(634,545)
28%
(9,952,793)
(10,404,930)
5%
1,382,461
1,381,122
0%
Share of income of associates
32,823
22,655
-31%
Share of results of a joint venture
14,127
26,030
84%
Total Cost of Goods Sold
Gross Profit
Selling and distribution expenses
(51,712)
(54,741)
6%
General and administration expenses
(435,757)
(470,722)
8%
Board Fee
(116,720)
(126,856)
9%
0
(19,993)
-
Impairment losses
Operating Profit
825,222
757,496
-8%
Finance cost
(50,557)
(82,859)
64%
68,720
173,847
153%
Other income / loss
Net income from continuing operations
843,385
848,484
1%
Net loss from discontinuing operations
(53,118)
(11,362)
-79%
Net Income before zakat
790,267
837,122
6%
Zakat (for display)
(52,220)
(64,267)
23%
Income tax and deferred tax
(14,973)
(25,146)
68%
Net Income
775,294
811,975
5%
Financial statements
Balance Sheet
(Consolidated)
Construction Products Holding Company
Detailed Balance Sheet
000's SAR
Cash and cash equivalents
Receivables and others
Unbilled revenue
Inventories
Assets classified as held for sale
Total Current Assets
Retentions receivable
Investments (associates and financial instruments)
Property, plant and equipment
Deferred Charges and other assests
Goodwill
2012
2013
Growth
797,546
780,036
-2%
2,929,916
3,939,324
34%
868,071
238,114
-73%
2,076,940
2,238,727
8%
0
56,474
-
6,745,544
7,278,169
8%
91,728
40,133
-56%
-47%
481,049
254,900
4,060,496
4,081,912
1%
13,331
9,923
-26%
23,919
23,919
0%
Total Non-Current Assets
4,670,523
4,410,787
-6%
Total Assets
11,416,067
11,688,956
2%
782,202
1,288,396
65%
Due to Banks and short term debts
Current portion of long term debt
307,153
308,629
0%
Short-term payables and others
5,135,779
5,224,970
2%
6,392
-10%
625,739
466,124
-26%
Zakat and tax payable
83,307
106,075
27%
6,941,317
7,400,587
7%
Long Term Debt
691,944
568,386
-18%
Long-term payables and others
274,335
35,031
-87%
End-of-service indemnities
230,629
273,186
18%
Obligation under capital lease -current
Total Current Liabilities
354,100
0
-100%
1,551,008
876,604
-43%
Capital
112,453
1,700,000
1412%
Share premium
307,366
0
-100%
Statutory reserve
64,910
67,747
4%
Retained earnings
1,665,830
1,089,643
-35%
Reserves and others
(88,407)
(202,589)
129%
Shareholder's current account (joint stock company)
Total Non-Current Liabilities
778,967
741,884
-5%
Total Equity
2,923,742
3,411,765
17%
Total Liabilities and Equity
11,416,067
11,688,956
2%
Non-controlling interests
A n n u a l
R e p o r t
2 0 1 3
7 3
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
7,137
Dividends payables
11
Financial Results
Revenue by Business Line
Construction Products Holding Company
Revenue by Business Line
2012
000's SAR
Manufacturing
Revenue
KSA
2013
Net Income
Revenue
5,010,444
491,970
5,868,159
358,612
113,840
(76,240)
88,902
(43,474)
5,124,284
415,730
5,957,061
315,138
6,115,750
509,340
5,688,299
528,108
95,220
23,132
140,691
12,035
Total
6,210,970
532,472
5,828,990
540,143
Grand Total
11,335,254
948,202
11,786,052
855,281
International
Total
Net Income
Construction Services
KSA
International
BUILDING MATERIAL MANUFACTURING - Saudi Arabia
Revenue
Net Income
2012
5,465,810
2013
6,147,605
2012
491,967
2013
358,982
BUILDING MATERIAL MANUFACTURING - International
Revenue
2012
2013
Net Income
2012
113,839
(76,240)
2013
88,902
(43,474)
CONSTRUCTION SERVICES - Saudi Arabia
Revenue
6,502,948
2013
5,855,663
2012
509,340
2013
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
2012
Net Income
528,108
CONSTRUCTION SERVICES - International
Revenue
2012
2013
A n n u a l
95,221
140,691
R e p o r t
2 0 1 3
Net Income
2012
2013
23,132
150,191
7 5
11
Financial Results
Zakat & statutory
payments
Zakat and Statutory Payments
CPC Holding and its local Subsidiaries are subject to the regulations of the Directorate of
Zakat and Income Tax (“DZIT”) in the Kingdom of Saudi Arabia.
CPC Holding foreign Subsidiaries are subject to Zakat and/or Income Tax according to the
governing rules in their respective countries.
Zakat and Income Tax is provided on our accrual basis. The Zakat charge is calculated on
the Zakat and Income Tax base of each individual Subsidiary. Any difference in the estimate
is computed when the final assessment is approved by the Directorate at which time the
provision is cleared.
No adjustments are made in the financial statements to account for any variance since Zakat
and Income Tax are the liability of the Shareholders.
Corporate Governance
Corporate Governance is a mechanism to control and direct all the Company’s activities to
protect the rights of the Shareholders and Stakeholders (such as Employees, Customers and
Suppliers).
Corporate Governance is the System by which Companies are directed and controlled.
Board of Directors are responsible for the governance of the Subsidiaries through the three
Sub-Committees (Executive Committee, Audit Committee and Remuneration and Nomination
Committee) which were formed to monitor the implementation of the Corporate Governance in
all Groups’ operations.
The rules and regulations of CPC Holding Corporate Governance are in line with the rules and
regulations of the Capital Market Authority in the Kingdom.
Such governance will be constantly reviewed to ensure its suitability with the business
operation and reflect new changes and developments set by the Capital Market Authority in
the Kingdom along with the Policies and Procedures set by the Company’s Management.
A n n u a l
R e p o r t
2 0 1 3
7 7
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
Governance constitute a coherent set of procedures and organizational arrangements that
govern the relation with the Shareholders, Board of Directors and Executive Management to
achieve the objectives of long-term strategy to meet the needs of Shareholders, Stakeholders
and regulators through the integrating, credibility and responsibility performance by the
Companies Departments.
11
Financial Results
Dividend Policy
As per Article (46) of CPC Holding Bylaws sets out Policy for Net Profit Distribution:
Annual Net Profits of the Company will be distributed after deduction of all general
expenses and other costs as follows:
1. 10% of the net profit will be set aside as Statutory Reserve and it is up to the Ordinary
General Assembly to stop this reserve when it reaches 50% of the Share Capital.
2. Right to assign a share of the net profit not less than 5% of the nominal value of the share
as preferred shares after setting aside the Statutory Reserve and prior to any Dividend
distribution of Company annual Net Profit .
3. Ordinary General Assembly has the right according to the Company Board of Directors
recommendation to allocate an agreed upon percentage from the Company’s Net Profit as
an agreed upon Reserve and allocate it for certain or several purposes.
4. From the remaining balance a 1st payment to the Shareholders should be executed
equivalent to (5%) from then paid up capital.
5. Allocate from the remaining balance a percentage not to exceed 10% as Board of Directors
fee/ remuneration and not to exceed in all cases 5% of the Company Net Profit and not to
exceed the amounts allowed by the governing laws.
6. The remaining balance after all above allocations to be distributed to Shareholders as
additional dividend (share of profits).
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
DIVIDEND DISTRIBUTION FOR 2013 (SR'000) CPC HOLDING
net profit before bod fee and remuneration
less/ statutory reserve
877,392
67,747
809,645
less/ dividend (2013: nil)
less/ bod fee and remuneration
117,602
692,043
less/ additional dividend (2013: nil)
less/ zakat and income tax
82,318
balance net profit transfer to retained earnings
609,725
A n n u a l
R e p o r t
2 0 1 3
7 9
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
8 1
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
8 3
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
8 5
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
8 7
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
8 9
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
9 1
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
9 3
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
9 5
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
9 7
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
9 9
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 0 1
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 0 3
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 0 5
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 0 7
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 0 9
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 1 1
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 1 3
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 1 5
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 1 7
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 1 9
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 2 1
12
Independent Reports
Independent
auditors' report
CONSTRUCTION PRODUCTS HOLDING COMPANY (CPC)
A n n u a l
R e p o r t
2 0 1 3
1 2 3
Contact
information
13
Contact Information
Postal address
P.O.Box 11669
Jeddah (21463)
Kingdom of Saudi Arabia
Contact numbers
Toll Free Number: 8001250007
+966 12 6579460
+966 12 6579412
E-mail
alaquil@cpcholding.com
Web address
http://www.cpcholding.com
© 2013 All rights reserved.
Copying for other than personal or internal reference use without express written permission from CPC is prohibited.
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