Cement News tagged under: corporate
Ciments de Bizerte posts 53% turnover drop in 1Q24 due to lack of petcoke17 May 2024, Published under Cement NewsTunisia-based Les Ciments de Bizerte saw a 52.6 per cent drop in turnover to TND12.262m (US$3.9m) in the first quarter of 2024 from TND25.858m. The drop in turnover was due to the halt in clinker production during the quarter. The company suspended clinker production in the 1Q24 due to a lack of petcoke following financial challenges that prevented the company from importing the kiln's sole fuel. In the period leading up to 31 March, 50,588t of cement was produced, down 53.7 per cent YoY.... |
CRH revenue up 2% YoY in 1Q2416 May 2024, Published under Cement NewsCRH has reported total revenue of US$6.5bn in the opening quarter of 2024, ended 31 March. This marks a two per cent expansion compared to the same period a year earlier. Adjusted EBITDA over the 1Q24 came in at US$445m, up 15 per cent YoY, while the adjusted EBITDA margin advanced 80bps to 6.8 per cent. The gain in adjusted EBITDA was attributed to the continued delivery of the company’s integrated solutions strategy, strong commercial progress, ongoing costs control and further operation... |
LafargeHolcim Bangladesh net profit stands BDT1.627bn in 1Q2416 May 2024, Published under Cement NewsAccording to the latest quarterly report of LafargeHolcim Bangladesh Ltd ( LHBL), a frontline cement producer in Bangladesh, revenue and net profit shrank by three and 15 per cent, respectively, in the 1Q24. The prime reasons could be the increase in the cost of raw materials and the prevailing inflation in the country. In a statement, Iqbal Chowdhury, CEO, said: “The construction Industry is going through a challenging time, with a consistently high inflationary environment impacting co... |
Andhra Cements posts income growth QoQ16 May 2024, Published under Cement NewsIndia’s Andhra Cements , part of Sagar Cements , has posted total income of INR993m (US$11.89m) in the quarter ending 31 March 2024. This is up from INR984m in the previous quarter. The net loss for the March 2024 quarter came in at INR188m, down from a loss of INR212m in the previous quarter. Basic earnings per share over the same period improved from -INR2.30 to -INR2.04. For the year ended 31 March 2024, total income stood at INR2766m with a net loss for the 12-month period of INR65... |
Menzel opens new headquarters and motor plant16 May 2024, Published under Cement NewsMotor and drive specialist Menzel Elektromotoren has celebrated the opening of its new headquarters near Berlin with a grand inauguration party. In honour of company founder Kurt Menzel, the date was set for the 120 th anniversary of his birthday on 14 May 2024. The company required extra space and modern production facilities designed for efficient processes and larger, heavier machines. In addition to state-of-the-art machinery, efficient paint shops and test fields that can accomm... |
Votorantim Cimentos improves 1Q margins15 May 2024, Published under Cement NewsVotorantim Cimentos ended the 1Q24 with better margins due to higher sales volume and lower costs. The company’s global cement sales totalled 8.1Mt, up one per cent YoY compared to 1Q23. The company posted global net revenue of BRL5.5bn (US$1.072bn) in the 1Q24, down four per cent in local currency (excluding the effect of exchange rate variation) compared to the same period last year. This resulted primarily from lower volume in North America, which was partially offset by positive res... |
CEMEX signs solar agreement for Clinchfield plant15 May 2024, Published under Cement NewsCEMEX USA has entered into an off-site renewable energy agreement with Georgia Power for its Clinchfield cement plant as part of its ongoing decarbonisation drive. Through this long-term agreement the Clinchfield plant will secure approximately 25 per cent of its power requirements from solar facilities throughout the state beginning in 2025, reports PR Newswire. “Embracing solar power not only accelerates our own aggressive sustainability goals but also sets a powerful example for ... |
FLSmidth reports 55% increase in 1Q EBITA15 May 2024, Published under Cement NewsFLSmidth posted a 1Q24 total revenue of DKK4839m, down 19.6 per cent YoY from DKK6016m. Total order intake was down 6.8 per cent YoY to DKK5248m from DKK5632m. However, EBITA increased by 55.3 per cent to DKK365m in the 1Q24 from DKK235m. The EBITA margin stood at 7.5 per cent. Cement Cement order intake was down 22.5 per cent YoY to DKK1042m in the 1Q24 from DKK1344m in the 1Q23. Product order intake fell by 40 per cent YoY, partly due to the continued reduction in its portfolio and exi... |
S&P upgrades CEMEX investment grade15 May 2024, Published under Cement NewsRating agency Standard & Poor’s (S&P) has upgraded CEMEX ’s long-term global scale issuer credit rating to Investment Grade (BBB-) due to its strong financial and operating performance, deleveraging strategy and flexible capital allocation. “Achieving an investment-grade credit rating from S&P is a very important milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “While we had record results last year, this rating is recognition of successful execution against our medium-term ... |
Hail Cement sees 19% drop in 1Q net profit15 May 2024, Published under Cement NewsHail Cement posted 1Q24 sales of SAR73.8m (US$19.7m), up by 19.2 per cent when compared with SAR61.9m in the 1Q23. The company’s gross profit declined by 11 per cent to SAR20.1m in the 1Q24 from SAR22.6m in the year-ago period. The operational profit saw a 18.5 per cent drop to SAR13.1m from SAR16.1m over the same period. Net profit fell 18.9 per cent to SAR15m in the 1Q24 from SAR18.5m in the 1Q23. Hail Cement attributed the drop in net profit to an increase in the cost of sales, zaka... |