Cement News tagged: Corporate
HeidelbergCement's group revenue improves by 4% to EUR4.8bn in 2Q18
HeidelbergCement group revenue rose by four per cent in the second quarter to EUR4.8bn from EUR4.6bn in 2Q17. However, negative currency effects of EUR226m had an adverse impact on revenue. Adjusted for currency and consolidation effects, revenue increased by nine per cent due to sales volume growth in all business lines and successful price increases. In the second quarter, the group's ceme...
Qassim Cement Q218 sees 65% profit fall
Saudi cement producer Qassim Cement reported a 65.4 per cent fall in net profit to SAR18.4m in the second quarter of 2018, when compared with a net profit of SAR53.2m in 2Q17. Sales declined by 34.8 per cent from SAR135.1m in 2Q17 to SAR88.1m in the April-June 2018 period.
InterCement IPO set for 2019
Brazil's InterCement Participações SA of Brazil plans an initial public offering (IPO) of its operations in Europe and Africa early next year, reports Reuters. InterCement would sell up to 49 per cent of the unit, which will group the activities in these countries, the sources added. In a statement to Reuters, InterCement confirmed the IPO plans. "InterCement is considering an IPO of its ass...
Najran Cement losses surge to 651% in 2Q18
Saudi Arabia’s Najran Cement’s losses reached SAR-31.73m (US$-8.46m) in the second quarter of 2018, representing an increase of SAR4.2m when compared with the 2Q17, according to a statement to the Saudi Stock Exchange (Tadawul). Quarter-on-quarter the company’s losses increased 212 from SAR18.18m. Najran has attributed the slide to a drop in average selling prices, combined with a fall ...
SCG Vietnam reports 20% revenue increase in 1H18
Siam Cement Group (SCG) Vietnam has announced a 20 per cent surge in revenue to VND14.53trn (US$631.74m) in the first half of the year. The 2Q18 saw the company record a 28 per cent YoY rise in revenue to VND8.46trn, on the back of a large contribution from the packaging business, according to Viet Nam News.
Uzbekistan plant to be commissioned in August
Uzbekistan’s Almalyk Mining and Metallurgical Combine is expected to commission its facility in Sherabad, Surkhandarya, in late-August. The plant aims to produce 1.5Mta once it reaches full capacity, and represents an investment of US$212.8m. The project was financed through a US$24.4m investment by the company, alongside a US$90m loan from the Fund for Reconstruction and Development of Uzbe...
Cemex is working 24/7 to meet Philippine cement demand
Cemex president and CEO, Ignacio "Nacho" Mijares, says Cemex's cement plants in plants in Antipolo and Cebu are having to work 24/7, in maximum capacity, to meet the market demand in the Philippines. The government’s PHP8trn (US$150.3bn) infrastructure programme is sending cement demand upward. "We recently were able to 'debottleneck' our dispatch which allows us to increase to half a millio...
Nigeria’s CCNN sees profit after tax more than double
The Cement Co of Northern Nigeria (CCNN) reported a revenue of NGN19.588bn (US$54.2m) in 2017, representing a 31.6 per cent rise when compared with revenues of NGN14.088bn of the previous year. CEO of the BUA Group, CCNN’s parent company, Abdul Samad Rabiu, attributed the rise to improved cement prices and efficient cost management. Gross profit in 2017 reached NGN7.605bn, nearly double...
Zambia starts work on new 1Mta cement plant
Zambia's President, Edgar Lungu, has officially launched China National Building Materials' (CNBM) cement plant in Chongew Mapande Industrial Park, Zambia. The project will be undertaken in two phases, creating over 400 direct jobs and a further 2500 jobs for Zambians once fully operational. "The first phase which is being commissioned today has a total investment of US$200m and consi...
Namibia’s Whale Rock cement plant commissioning in October
Namibia’s Whale Rock cement plant, built with Chinese investment, is expected to fully commission at the end of October, according to company spokesman Manfred Uxamb. The plant represents an investment of US$350m and is expected to produce 1.2Mta of Cheetah-branded cement. Production at the plant started in April . "Whale Rock Cement has already started with cement production in April a...
Bamburi Cement launches new rapid concrete solution
Bamburi Cement has launched a ready-mix concrete that will speed up construction time by enabling continuous concrete pour in projects of more than 2000t in under 48h. Pours of this volume usually take almost a month using traditional methods. The new product, Poweraft, is designed for the construction of foundations for skyscrapers, bridge piers and generally all applications requiring mas...
Martin Marietta's cement revenues rise 14% in 2Q18
Martin Marietta's 2Q18 cement product revenues increased 14.4 per cent and gross profit by 40.6 per cent. Shipments and pricing improved 11.6 and 2.6 per cent, respectively, reflecting the strong underlying market conditions throughout Texas. These factors, coupled with increased production efficiencies, led to a product gross margin of 36.5 per cent, reported Martin Marietta. Inclusive...
Holcim Philippines records 25% fall in net profit
Holcim Philippines recorded a 25 per cent YoY drop in net profit to PHP1.6bn (US$30m) for the 1H18 period, with the results attributed to competition and higher operating costs. However, net sales increased eight per cent to PHP18.8bn on the back of an increase in sales volumes of cement and aggregates. In the 2Q18 net sales advanced 18.5 per cent YoY to PHP10.1bn. "Our second quarter perf...
LafargeHolcim's 2Q18 revenues rise by 6.2%
LafargeHolcim's revenue grew 6.2 per cent in the 2Q18, with total net sales of CHF7442m (US$7468m). For the first six months net sales grew 4.8 per cent on a like-for-like basis. Over the first six months, recurring EBITDA was down -1.4 per cent on a like-for-like basis but earnings increased in the second quarter, with recurring EBITDA up by 1.5 per cent, largely offsetting a soft first...
Cementir's 1H18 cement and clinker sales fall to 4.9Mt
Cementir Holding's sales volumes of cement and clinker in 1H18, equal to 4.9Mt, were essentially unchanged compared to the 1H17, despite the change in the scope of consolidation. On a like-for-like basis, sales of cement and clinker dropped (-3.8 per cent) due to the worse performance of Egypt and Turkey, which suffered slowdowns in the second quarter because of June elections and Ramadan. E...
Cemex's net sales rise by 7% in 2Q18
Cemex's net sales increased by seven per cent during the 2Q18 to US$3.8bn versus 2Q17. Operating EBITDA increaed by four per cent during 2Q18 to US$714m versus 2Q17. Cemex's CEO, Fernando A Gonzalez, said: "We are encouraged by the very favourable dynamics we saw in most of our portfolio during the quarter, with improvements in pricing which should translate into higher profitability during t...