Introduction Zamil Industrial Investment Company announces its intention to purchase its shares (Share Buyback) to retain them as Treasury Shares with a maximum of 3 million shares and not exceeding 5% of total outstanding shares, and with a total value not exceeding 50 million Saudi Riyals
Board Approval’s Date 02-08-1441 corresponding to 26-03-2020
Purpose of Purchase To retain them as Treasury Shares
Purpose of Purchase (If the Purpose to Keep the Shares as Treasury Shares) To retain them as Treasury Shares for purposes of stabilizing the fluctuating share price since the Board considers that the share price on the exchange is lower than its fair value
Number of Shares to be Bought 3 million shares
Shares Class Ordinary shares
Method of Financing the Purchasing Process The purchase of these shares will be funded through the company’s internal resources from available cash
Current Percentage of the Treasury Shares at the Company out of the Total Class of Shares Purchased Currently, there are no Treasury Shares held by the company
Approvals and Meeting the Conditions of Financial Appropriateness The company must receive consent from the Extraordinary General Assembly for the Purchase. The company must also obtain a solvency report as stipulated in Paragraph (3) of Article (12) of the Regulatory Standards and Procedures issued pursuant to the Companies Law
Voting Right Purchased shares will not have any voting rights in any general assemblies
Zamil Steel Buildings Vietnam has signed a new contract with general contractor Técnicas Reunidas, S.A. of Spain in connection with the new Chemicals and Refining Integrated Singapore Project (CRISP) located on Jurong Island, Singapore. The project marks the latest investment by American multinational oil and gas corporation ExxonMobil to further expand its multi-billion-dollar integrated manufacturing complex in Singapore.
As stated by Exxon Mobil Singapore, the project is expected to apply new chemical technologies to integrate the crude cracker and refining complex, and to increase the production of clean fuels with lower sulfur content by 48,000 barrels per day. Engineering, procurement and construction (EPC) contracts have been awarded to Técnicas Reunidas, with the aim to start operations by 2023.

Under the contract signed by Zamil Steel Buildings Vietnam and Técnicas Reunidas, Zamil Steel’s scope of work will include the design, fabrication, and supply of steel structures for reactors and equipment platforms. Parts of the steel structures will be painted in-house with special intumescent paint to provide two-hour fireproofing, using AkzoNobel Chartek 2218. Engineering work started in March 2020 so that fabrication could start in May 2020. 

With its engineering excellence and large production capacity, Zamil Steel has been entrusted by Técnicas Reunidas for many of its biggest and most advanced oil refinery projects around the world.
Sales/Revenue 4,278,226 4,313,649 -0.8%
Gross Profit (Loss) 597,947 715,370 -16.4%
Profit (Loss) Operational (29,325) (13,075) 124.3%
Net Profit (Loss) after Zakat and Tax (138,809) (139,833) -0.7%
Total Comprehensive Income (136,619) (169,006) -19.2%
Total Shareholders' Equity (after deducting minority equity) 1,278,767 1,415,946 -9.7%
Profit (Loss) per Share (2.31) (2.33)

All figures are in thousands of Saudi Riyals

Reasons for increase (decrease) in net profit for current year compared to last year Net loss marginally reduced for the year due to:
a) Increase in profit of associated companies;
b) Increase in other income;
c) Lower provision for expected credit loss of financial assets;
d) Reduction in loss from discontinued operations.

However, the impact of the above is offset by the following:
a) Reduction in gross profit margins in the AC and Steel sectors due to increase in input costs, pressure on selling prices and severe competition;
b) Increase in financial charges;
c) Increase in tax.
External auditors' opinion The external auditors reviewed the financial statements and issued an unmodified report.
Reclassifications in annual financial results Comparative figures have been reclassified to conform with the presentation in the current year.
Additional information  
Zamil Steel recently manufactured and supplied pre-engineered steel buildings, spread over a built-up area of 22,000 square meters, for Tariq Glass Industries’ new factory (Float Glass Unit-2), located in Sheikhupura, Pakistan. The new factory is expected to quickly double the production capacity of Tariq Glass Industries and strengthen its efforts to redefine the glass market.

Since its inception in 1977, Zamil Steel has designed, manufactured, and supplied over 75,000 pre-engineered steel buildings to its valued customers in over 90 countries around the world. The company is recognized as the global leader in the provision of steel buildings and steel structures on five continents.
Zamil Steel Buildings Vietnam has signed a contract with Turkish hygiene products manufacturer, Hayat Kimya Vietnam Co., Ltd, for its new factory project in Binh Phuoc province. The project is expected to be completed by December 2020 and put into operation in 2021.

The proposed factory will cover an area of approximately 50,000 square meters, and the buildings will be outfitted with MaxSEAM® roof systems and special mezzanine floors. Sandwich panels with insulation specially imported from Turkey will be used for in the wall construction, to ensure thermal resistance and fire safety.

Zamil Steel was previously entrusted by Hayat Kimya to construct some of its world-class plants in Africa and other locations. Future coordination between the two companies is expected as Hayat Kimya expands its operations in the Asia-Pacific region.
Zamil Steel has successfully completed the contract awarded by Al Bawani Company for the supply and erection of pre-engineered steel buildings for a new Saudia Cargo terminal in Riyadh, Saudi Arabia. The steel buildings, spread over a built-up area of 28,000 square meters, had to be delivered within a very short period of time, in addition to the fabrication of high-performance sandwich panels for the terminal.

Being strategically located in the Kingdom of Saudi Arabia, Saudia Cargo is uniquely positioned to provide a bridge between East and West via its hubs, thus giving increased flexibility to use its capacity efficiently and move cargo with minimal ground handling time.

Zamil Steel’s pre-engineered steel building products are certified to international quality standard ISO 9001.
Zamil Steel has supplied pre-engineered steel buildings, spread over a built-up area of 15,000 square meters, for the Daily Food Company’s new factory (Maestro Pizza), located in the central region of Saudi Arabia.

The design of the steel structures for this project was highly complex and challenging, as they had to be manufactured for ten different areas of the new factory.  

Daily Food Company is Saudi Arabia’s fastest growing QSR (Quick Serve Restaurant) chain, specializing in an international pizza experience. The new factory is expected to increase the production capacity of Daily Food Company and strengthen its efforts to redefine the pizza market in a short duration of time.

Zamil Steel demonstrates its commitment to service at the local level by maintaining a network of 55 area offices located in 34 countries around the world. These facilities are fully staffed and equipped to provide quick and comprehensive responses to customer inquiries.
Zamil Steel Buildings Co., Egypt, recently celebrated its 20th anniversary, marking its two decades of excellence in Egypt and the African continent. The celebration ceremony was held at the Mövenpick Media City Hotel, 6th of October City, Cairo, in the presence of Osama Al-Bunyan, Chief Operating Officer of Zamil Industrial, Khaled Saad, general manager of Zamil Steel Egypt, and all of the executives, managers, and supervisors at the company.

During the event, Zamil Steel Egypt presented 75 employees, who have all completed 20 years of service with the company, with awards and appreciation certificates in recognition of their long service.

Zamil Steel Egypt produces and supplies high-end, pre-engineered steel buildings, steel structures, and other steel products for customers located in more than 30 African and European countries as well as in the free zones in Egypt.
Zamil Air Conditioning & Refrigeration Services Co. Ltd. (Zamil CoolCare) has signed a distribution agreement with Emerson, a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets.

Under the agreement, Zamil CoolCare will market and distribute Emerson’s product offering, which includes refrigeration and cold chain solutions, monitoring and temperature management solutions, and industrial refrigeration in the Kingdom of Saudi Arabia. The agreement also allows the company to appoint additional distributors to market Emerson products and solutions, as specified in the agreement.

The distribution 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 refrigeration products and solutions from Emerson.

Emerson Commercial and Residential Solutions have had a beneficial and supportive commercial relationship with the company for over 40 years, and they look forward to building on these ties through focus on continuous growth within the Kingdom of Saudi Arabia.

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

Emerson is setting the standard for commercial refrigeration. Their condensing units and multi-compressor racks with the Copeland compressor line up have continuously set the standard in performance and reliability. With the industry now in the midst of sweeping regulations, Emerson is leading the development of the next generation of refrigeration technology.

Zamil has built client trust in its products and services over a period of 46 years, and it will continue to do so by expanding its range of high-quality products and technical know-how on refrigeration systems. This will further support Zamil’s position in Saudi Arabia as one of the main players in the refrigeration industry. With remote monitoring and temperature management, the company will provide energy-efficiency and food safety solutions, as targeted by Saudi Vision 2030.  
Zamil Steel has successfully completed the contract awarded by Nesma & Partners Contracting Co. for the design, manufacture, and supply of steel structures for Al-Ula Airport’s new terminal, located in the western part of Saudi Arabia.

The design of the steel structures for this vital project was highly complex and challenging and had to be delivered within a very short period of time. Zamil Steel’s well-experienced and professional team of engineers and technicians managed to overcome all the challenges to complete the project within a record time of four weeks.

Prince Abdul Majeed bin Abdulaziz Domestic Airport in Al-Ula is planning to transform the domestic airport into an aviation hub that can welcome a marked increase in tourists. The airport development will include the construction of an extended apron area to accommodate more aircraft, a new executive suite, and new digital information systems for both the departure and arrival areas.

Zamil Steel not only offers the most comprehensive services to all its clients through its sophisticated engineering and estimating systems but it also provides the most extensive after-sales support service in the industry.
The Director of Information Technology at Zamil Industrial Investment Co. (Zamil Industrial), Abdulbary Atassi, participated as a speaker at Oracle OpenWorld Middle East 2020, held on January 14–15, 2020, at the World Trade Center in Dubai, UAE.

The event included keynotes by business and thought leaders, technologists, innovators, and shapers of the future; case studies from leading organizations to explore solutions designed to resolve some of their biggest challenges; and hands-on demos and experiences with products, solutions and services from Oracle and Oracle PartnerNetwork companies.

Abdulbary participated in two breakout discussion sessions, titled “Migrating On-Premise Oracle Workloads to The Cloud” and “Pave the Way for a New Finance Operating Model.” He highlighted two aspects of Zamil Industrial’s digital transformation program. The first was about how to enhance the quality of current services and reduce operational costs by consolidating the infrastructure landscape and centralizing controls, using Oracle Cloud Infrastructure. The second aspect was about how Zamil Industrial is changing its entire financial and operational model by transforming to Oracle’s latest applications technology (Fusion) through the “ASaaS” program, and how it is handling all the implementation and change management activities.

Oracle OpenWorld Middle East 2020 explored how leading companies are exposing and unlocking insights with data to re-engineer the core of their businesses, elevating the value they deliver to customers, pioneering new ways of working, and driving completely new opportunities. It also investigated the transformational and autonomous technologies that are fundamentally changing work and life.
Zamil Steel has successfully completed the manufacture and supply of pre-engineered steel buildings, spread over a built-up area of 22,000 square meters, for the Agility Logistics warehouses project in the Eastern region of Saudi Arabia. The steel structures for this huge warehouse construction job were manufactured and supplied within a period of seven weeks.

Zamil Steel’s vision is to be the world’s most reliable and innovative manufacturer, service and solution provider in the steel industry.