Cement News tagged: Corporate
Kunak wins SantanderX Global Challenge
Kunak, a leading environmental monitoring and Internet of Things (IoT) specialist, has won the SantanderX Global Challenge, an international competition that promotes the advancement of the digital economy through innovative solutions in the IoT. In the challenge Kunak competed with participants from 11 countries, where our proposal was recognised in the category of growing technology compa...
Leilac-2 moved to Ennigerloh plant
Calix has confirmed that the Leilac-2 carbon capture project, which was to be installed at Heidelberg Materials’ Hanover plant in Germany, will now be constructed at the cement producer’s Ennigerloh plant, also in Germany. The decision to move the project was the result of Heidelberg Materials opting to end clinker production at the Hanover facility. The Leilac-2 project aims to demo...
Northern Region Cement sells share in Al-Kubaisa plant
Northern Region Cement Co has announced the sale of its 50 per cent stake in Cement Experts Co for Development and Investment to UAE-based AMP Global Trading. According to The People’s Network, the deal, which has been valued at US$55m, involves the Al-Kubaisa cement plant in Iraq, in which Cement Exports hold a 51 per cent share. With Northern Region Cement relinquishing its 50 per cen...
Holcim Block launched in Bangladesh
LafargeHolcim Bangladesh Ltd (LHBL) has launched its ‘Holcim Block’ to grab a share of Bangladesh's US$3bn domestic brick market. Around 150 manufacturers are making concrete blocks in different parts of the country. In a media statement, chief corporate affairs officer of LHBL, Asif Bhuiyan, said: “Concrete blocks are more environmentally friendly and durable than conventional bricks. Du...
LafargeHolcim Maroc posts 3% pick-up in revenue
LafargeHolcim Maroc reported a revenue of MAD8212m (US$816.2m) in 2023, up 2.8 per cent YoY from MAD7975m in 2022. The advance is attributed to higher cement sales and increased clinker exports. In the 4Q23 alone, revenue was up 2.3 per cent YoY due to higher cement sales in the domestic market. LafargeHolcim Maroc decreased its net debt by 11.3 per cent to MAD4864m at the end of 2023 from ...
Gharibwal Cement achieves a gross profit of PKR1.499bn in 1HFY23-24
Gharibwal Cement Ltd (GWLC) of Pakistan announced its half-year financial results ending 31 December 2023, on 26 February 2024. The company saw a decrease in its profit to PKR685m (US$2.45m) in 1HFY23-24 from PKR1.12bn earned in the same period last year. This translated to a fall of 39.2 per cent in profit YoY. The major factor responsible for this fall was the increased cost of sales and o...
FLSmidth Cement closes MAAG gears sale
With reference to the announcement made on 22 January 2024, FLSmidth Cement has now closed the sale of its MAAG gears and drives business to the Swedish investment company, Solix Group AB. The transaction does not change FLSmidth’s previously-announced financial guidance for the full year 2023.
Dangote boosts revenue by 36% in 2023
Dangote Cement has reported revenue of NGN2.208trn (US$1.365bn) in 2023, up 36.4 per cent from the NGN1.618trn posted in the previous year. Operating profit over the same period advanced from NGN585.88bn to NGN734.27bn, marking an increase of 25.3 per cent. Gross profit saw a 25.8 per cent advance YoY to NGN1.202trn, while profit after tax improved by 19.2 per cent from NGN382.31bn in 202...
Saint-Gobain posts 6% decline in sales in 2023
Saint-Gobain has reported sales of EUR47,944m in 2023, down 6.4 per cent from EUR51,197m in the previous year. EBITDA over the same period declined 1.7 per cent from EUR7123m to EUR7001m, while consolidated net debt fell 10.2 per cent from EUR8232m to EUR7393m. Recurring earnings per share were down 1.4 per cent from EUR6.48 in 2022 to EUR6.39 in 2023. Operating income fell 1.6 per cent YoY,...
LafargeHolcim Bangladesh's profit jumped 34% in 2023
LafargeHolcim Bangladesh has reported that its sales grew 20 per cent YoY to BDT28.39bn (US$258.6m), and profit jumped 34 per cent to BDT5.94bn in 2023, compared to the previous year, it said in a media statement on 29 February. The company sales were BDT23.59bn, and the profit was BDT4.45bn in 2022. "The performance demonstrates the strength of our diverse product portfolio and strategic ...
Kohat Cement Factory expands capacity and progresses Punjab plant
Kohat Cement Factory has updated the Pakistan Stock Exchange Ltd (PSX) about an increase in cement production capacity at Kohat in Khyber Pakhtunkhwa. After the optimisation of the pyroprocessing section of the existing 6700tpd grey cement production line, the clinker production capacity of the company increased from 6700tpd to 7064tpd. Moreover, the company’s net profit after tax jumped ...
Pioneer Cement’s profit expanded by 49% in 1HFY23-24
Pioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross reven...
BUA Cement records revenue growth of 27% in 2023
BUA Cement reports its full year 2023 audited financial statements and accounts, posting a strong revenue growth of 27.4 per cent to NGN460bn (US$282m) compared to NGN361bn in 2022, resulting from an increasing market share. However, with the devaluation of the naira last June and its continued depreciation, as well as growing inflation, the company faced increasing price pressures which imp...
DG Khan Cement's profit increased by 13% in 1HFY23-24
DG Khan Cement Co Ltd (DGKC) announced its financial results for the half year ended 2023-24 on 26 February 2024. Its net profit after taxation increased by 13.2 per cent YoY to PKR1.05bn (US$379.2m). The rise in profit can be attributed to higher sales or 17 per cent during these six months ending on 31 December 2023. Its net sales increased to PKR34.78bn from PKR29.76bn during this per...
Holcim proposes Michael H McGarry as independent Board of Directors member
Holcim proposes Michael H McGarry, formerly chairman and CEO of PPG Industries, a leading global specialty coatings company, for election to its Board of Directors. The election will take place at Holcim’s Annual General Meeting on 8 May 2024. All other members are standing for re-election. Jan Jenisch is proposed for re-election as chairman of the Board. With the proposed nomination, th...
Cementos Molins reports record results in 2023
Spain-based Cementos Molins closed 2023 with revenues of EUR1349m, up six per cent YoY with gains across all businesses and regions as sales increased and price management impacted positively on the company’s results. EBITDA advanced 22 per cent YoY to EUR337m thanks in particular to the contribution of the company’s Spanish and Mexican operations. Higher volumes, successful efficiency plans...