Obaid bin Saad Al-Subaie, CEO ofNorthern Region Cement Co. (Northern Cement)
Northern Region Cement Co. (Northern Cement) expects its performance to remain stable in Q4 2026, with a positive outlook for revenue and profit growth starting next year, particularly with the commissioning of its new investment in Iraq, said CEO Obaid bin Saad Al-Subaie. 
In an interview with Argaam, Al-Subaie said the company expects to begin operating its new cement production line in Iraq in the near future. He noted that all of the company’s overseas investments, including its investment in Iraq, contributed positively to its results in Q3 2026.
He added that the increase in revenue during Q3 2026 was driven by higher export-related sales volumes and production in Syria, an increase in the company’s market share in the Syrian market, and growth in sales from its other overseas investments.
Al-Subaie further noted that the Saudi market witnessed some decline in cement demand during Q3, resulting in a slight decrease in domestic sales volumes. However, the company offset these volumes through export sales and its subsidiaries, while selling prices varied to some extent.
As for higher costs and their impact on profit margins, Al-Subaie explained that the slower growth in gross profit compared with revenue was attributable to an 11% increase in operating costs, as announced by the company at the beginning of the year, in addition to higher raw material transportation costs at its subsidiaries.
Regarding the current geopolitical and security developments in the region, he said the company had addressed the challenges with flexibility, enabling it to mitigate the negative impact of obstacles and absorb, to the extent possible, the increase in costs resulting from higher supply chain expenses.
The CEO also pointed out that the company’s long-standing export experience helped limit the negative impact of these developments on its export activities.
As for his outlook for cement prices in the Saudi market, Al-Subaie expects prices to remain stable in Q4 2026 and next year, while opportunities for improvement will continue to depend on market supply and demand levels.
Regarding the company’s financial position, he said its debt inched higher at the end of Q3 quarter-on-quarter. He added that the company does not need additional financing next year, as it is nearing completion of its overseas expansion projects.
According to data available on Argaam, Northern Cement’s net profit rose 48% to SAR 54.85 million in 9M 2026, from SAR 37.05 million in the same period last year. Q3 net profit reached SAR 23.76 million, up 48% YoY.
Obaid bin Saad Al-Subaie, CEO ofNorthern Region Cement Co. (Northern Cement)
Northern Region Cement Co. (Northern Cement) expects its performance to remain stable in Q4 2026, with a positive outlook for revenue and profit growth starting next year, particularly with the commissioning of its new investment in Iraq, said CEO Obaid bin Saad Al-Subaie.
In an interview with Argaam, Al-Subaie said the company expects to begin operating its new cement production line in Iraq in the near future. He noted that all of the company’s overseas investments, including its investment in Iraq, contributed positively to its results in Q3 2026.
He added that the increase in revenue during Q3 2026 was driven by higher export-related sales volumes and production in Syria, an increase in the company’s market share in the Syrian market, and growth in sales from its other overseas investments.
Al-Subaie further noted that the Saudi market witnessed some decline in cement demand during Q3, resulting in a slight decrease in domestic sales volumes. However, the company offset these volumes through export sales and its subsidiaries, while selling prices varied to some extent.
As for higher costs and their impact on profit margins, Al-Subaie explained that the slower growth in gross profit compared with revenue was attributable to an 11% increase in operating costs, as announced by the company at the beginning of the year, in addition to higher raw material transportation costs at its subsidiaries.
Regarding the current geopolitical and security developments in the region, he said the company had addressed the challenges with flexibility, enabling it to mitigate the negative impact of obstacles and absorb, to the extent possible, the increase in costs resulting from higher supply chain expenses.
The CEO also pointed out that the company’s long-standing export experience helped limit the negative impact of these developments on its export activities.
As for his outlook for cement prices in the Saudi market, Al-Subaie expects prices to remain stable in Q4 2026 and next year, while opportunities for improvement will continue to depend on market supply and demand levels.
Regarding the company’s financial position, he said its debt inched higher at the end of Q3 quarter-on-quarter. He added that the company does not need additional financing next year, as it is nearing completion of its overseas expansion projects.
According to data available on Argaam, Northern Cement’s net profit rose 48% to SAR 54.85 million in 9M 2026, from SAR 37.05 million in the same period last year. Q3 net profit reached SAR 23.76 million, up 48% YoY.
