Cement News tagged: Corporate
Vicat sees strong growth in net profit
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
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
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 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
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
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
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
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
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
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
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
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
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...
CCNN appoints new independent directors
The Cement Co of Northern Nigeria (CCNN) has announced the appointment of Senator Khairat Abdulrazaq-Gwadabe and Shehu Abubakar as independent directors of the company. Effective from 12 July, the appointment also includes Abbas Ahmad Gandi as a non-executive director. Abdul Samad Rabiu, chairman of the CCNN board of directors, has reportedly stated that the installation of new board members...
Taiwan Cement to list GDRs on Luxembourg stock exchange
Taiwan Cement Corp said Tuesday that it has issued US$549m-worth of global depositary receipts (GDRs). The GDRs, issued a day earlier, are scheduled to list on the Luxembourg stock exchange on 3 August, according to Taiwan Cement. The proceeds from the GDR sale will be used to invest in the company's subsidiaries overseas, which will help them repay part of their loans, while the funds w...
Arabian Cement posts net loss in 2Q18
Saudi cement manufacturer Arabian Cement has recorded a SAR50.9m (US$13.57m) net loss in the second quarter of 2018, compared with a SAR35.5m profit seen in the year-ago period. Net sales also saw a significant 51.5 per cent YoY fall to SAR107.8m from SAR222.4m in the period.