Cement News tagged: Corporate

Umm Al Qura Cement records 98% profit decline

08 August 2018, Published under Cement News

Saudi Arabia-based Umm Al Qura Cement Co (UACC) has seen its profit drop 97.6 per cent YoY in the second quarter of 2018, falling to SAR199,600 (US$53,226) from SAR8.4m. The significant decline in profit has been attributed to a decrease in sales value, alongside higher marketing and selling expenses. In the half-year period (Jan-Jun 2018), the company saw profits down 59.3 per cent to SAR10...

Central African Cement Ltd established to build 5000tpd plant in Zambia

08 August 2018, Published under Cement News

ZCCM-Investment Holdings has announced that it has signed a shareholders' agreement with China Machinery Construction Group Ltd, also known as SinoConst, for the development of a cement plant. The joint venture project, called Central African Cement Ltd (CAC), will see ZCCM-IH holding 35 per cent of the shares in CAC, while SinoConst will hold the remaining 65 per cent. The project have a ce...

FLSmidth reports 13% order increase in 2Q18

08 August 2018, Published under Cement News

FLSmidth has released its interim 2Q18 report and reported a 13 per cent order increase to DKK5.056bn (US$787.86m) for the period, driven by over 100 per cent growth in the minerals division. Revenue in the second quarter advanced 3.2 per cent YoY to DKK4.73bn, compared with DKK4.585bn of 2Q17. "We saw the highest order intake in the Minerals division for several years, which shows that mine...

Vicat sees strong growth in net profit

09 August 2018, Published under Cement News

Vicat's 1H18 turnover improved by 2.7 per cent to EUR1281m, or by 9.6 per cent on a comparative basis. EBITDA advanced by 4.5 per cent to EUR197m, or by 12.3 per cent on a comparative basis, and the margin improved from 15.1 to 15.4 per cent. The trading profit rose by 21.3 per cent to EUR104m, while the net interest charge was EUR1.8m lower at EUR11.1m, giving an attributable profit 47.2 per ...

Sumitomo Osaka Cement records 10% revenue increase in 1QFY18-19

Sumitomo Osaka Cement records 10% revenue increase in 1QFY18-19

07 August 2018, Published under Cement News

Japan’s Sumitomo Osaka Cement Co recorded a 10 per cent YoY revenue increase in the first quarter of the FY18-19 period, rising to JPY60.19bn (US$540.56m) from JPY57.35bn. However, operating profit has declined 26.9 per cent YoY to JPY2.74bn, compared to JPY3.75bn of the year-ago period. The company’s net profit saw a similar fall of 21.7 per cent to JPY2.16bn.

Eastern Cement records 46% fall in 2Q18 profit

07 August 2018, Published under Cement News

Saudi Arabia’s Eastern Province Cement Co has recorded a 45.7 per cent YoY decline in net profit for the 2Q18, falling to SAR19m (US$5.06m) from SAR35m. Sales dropped 4.4 per cent to SAR152m from SAR159m. In the 1H18 the company’s profit decreased 59.3 per cent to SAR35m, while sales dipped 19.9 per cent to SAR290m. Eastern Cement attributed the fall in 1H18 profit to a decline in the valu...

Eagle Materials sees record revenues

Eagle Materials sees record revenues

09 August 2018, Published under Cement News

Eagle Materials Inc saw its 1QFY18-19 revenues hit record levels at US$393.8m, up eight per cent YoY. Net earnings rose 12 per cent from US$54.882m in 1QFY17-18 to US$66.339m in 1QFY18-19. The company saw its results mainly impacted by a US$6.5m pretax increase in maintenance expenses, primarily due to the timing of the annual maintenance outage at the Fairborn cement plant, but also by a US...

Birla Corp plans 3.9Mta plant in Maharashtra

09 August 2018, Published under Cement News

India's Birla Corp Ltd has announced that its RCCPL subsidiary plans to set up a 3.9Mta facility in Mukutban, Maharashtra, at an investment cost of INR24.5bn (US$356.8m). The project includes a 40MW captive power plant and a 10.6MW heat recovery system. The plant has already received environmental clearance, and is expected to be financed through a mix of debt and internal accruals. The move...

Mangalam Cement reports net loss of INR153.2m

06 August 2018, Published under Cement News

India-based cement producer Mangalam Cement has reported a standalone net loss of INR153.2m for the quarter ended June 2018, compared with a net profit of INR121.1m in the quarter ended June 2017. Sales edged up one per cent to INR2.541bn in the 1QFY18-19 when compared with sales of INR2.516bn in the year-ago period.

Buzzi Unicem's 1H18 net sales fall to EUR1337.4m

03 August 2018, Published under Cement News

Buzzi Unicem's net sales for the 1H18 were down 1.2 per cent to EUR1337.4m compared to EUR1353.8m in 2017, while EBITDA decreased by 5.7 per cent from EUR241.1m to EUR227.4m. The currency trend had a net unfavourable impact of EUR72.2m on net sales and EUR18.8m on EBITDA. The income statement for the six months closed with a net profit of EUR123m, compared to EUR117.6m in the same period of 20...

RHI Magnesita announces Indian merger

03 August 2018, Published under Cement News

RHI Magnesita has announced a merger between its three companies in India, Orient Refractories, RHI India and RHI Clasil. Upon completion, the move will consolidate the group’s position in the Indian market to allow it to tap into its growth potential more effectively, according to a press release. While subject to regulatory approval, the merger is expected to be completed within the next 9-1...

Tvornica Cementa Kakanj records 26% net profit increase

03 August 2018, Published under Cement News

Bosnia’s Tvornica Cementa Kakanj (TCK) facility has recorded a 26.3 per cent YoY increase in net profit to BAM9.1m (US$5.4m) in the 1H18, according to its financial report. Operating revenue advanced 10.7 per cent to BAM35.6m, while operating costs also rose 6.4 per cent to BAM26.6m. TCK is majority-owned by Dutch-based CEEM Investment, a unit of HeidelbergCement.

HeidelbergCement attracted to possible LafargeHolcim Indonesia sell-off

02 August 2018, Published under Cement News

HeidelbergCement could buy parts of LafargeHolcim's business in Indonesia that is up for sale, says HeidelbergCement CEO, Dr Bernd Scheifele. LafargeHolcim is planning to raise around CHF2bn (US$2.02bn) from selling assets as it reduces its operations, with speculation that its business in Indonesia could be among the candidates for sale, claims Reuters. "LafargeHolcim is in the market regar...

Caribbean Cement's net profit rises in 2Q18

02 August 2018, Published under Cement News

Caribbean Cement Company's net profit for the April to June quarter rose to JMD704m (US$5.24m) compared to was up from JMD629m during 2Q17. The company's revenues also rose by 11 per cent to JMD4.4bn in the 2Q18. In the first six months of 2018, the cement producer earned JMD8.8bn in revenue, which represented an increase of nine per cent over the corresponding period last year.

Paraguay's INC to inaugurate new Villeta mill

03 August 2018, Published under Cement News

Industria Nacional del Cemento (INC) will inaugurate its new US$11.5m cement mill tomorrow, enabling the plant to increase production by 50 per cent, according the cement company. The new 80tph mill has been operational since February, working in parallel with the old mill, which was installed in 1985. Output is expected to rise to 390,000t at Villeta. As a result, the company expects to inc...

Lucky Cement earns PKR12.20bn after-tax profit in FY18

01 August 2018, Published under Cement News

Lucky Cement earned after-tax profit of PKR12.2bn (US$98.4m) in FY18 as compared to PKR13.69bn in the same period last year, said the company filing to PSX. Experts comment that Lucky Cement's net sales grew by only 4.1 per cent YoY to PKR47.54bn despite a 9.3 per cent YoY increase in dispatches, largely due to lower retention prices during the year. Cost of sales grew by 25 per cent YoY PKR...