Cement News tagged: Corporate
Caribbean Cement plans to restart exports next year
Jamaica's Caribbean Cement Co Ltd aims to restart exports next year following the completion of its expansion, according to the Jamaica Gleaner. The company stopped exports last year to focus on the project which is expected to be completed in 2018. "I would love to restart exports to markets such as Bahamas, Bermuda, Grenada and the Caribbean," said Peter Donkersloot Ponce, general manager, ...
Cemex Latam Holding sees net sales fall 8% in 2Q18
Cemex Latam Holdings (CLH) reports consolidated net sales of US$280m during the 2Q18, eight per cent lower than in 2Q17, while operating EBITDA reached US$62m, 19 per cent lower than in 2Q17. In the 2Q18 domestic grey cement, ready-mix and aggregates volumes fell by eight, 14 and 12 per cent, respectively, compared to results in 2Q17. Meanwhile, consolidated prices in US-dollar terms increase...
Titan's 1H18 net profit rises 78.3% but turnover declines 7%
Titan Cement Group's 1H18 results showed a mixed performance with consolidated turnover reaching EUR712.5m, down EUR61.3m or 14 per cent on 1H17. Titan cited the strength of the euro against the dollar and other currencies as having a negative impact of EUR10m on group EBITDA. Still, net profits after tax amounted to EUR24.8m, up from EUR13.9m in 1H17. Turnover in 2Q18 was disappointing at ...
Siam Cement's 2Q18 profits down 6%
Siam Cement posted a six per cent drop in second-quarter profit on Wednesday, hurt by weak seasonal cement demand and its chemical business. Revenue from the cement and building materials business increased five per cent to THB44.6bn (US$1.34bn) due to demand from Vietnam, Indonesia and the Philippines but was held back by weak demand in Thailand. Profit came in at THB12.4bn for the three...
Ambuja reports 27% rise in standalone net profit
India’s Ambuja Cement has reported a 27.3 per cent YoY increase in standalone net profit for the quarter ended 30 June, rising to INR4.99bn (US$72.62m) from INR3.92bn. Net sales advanced 3.9 per cent to INR29.27bn, compared to INR28.17bn of the year-ago period. "Ambuja is well positioned to benefit from the upsurge in rural demand and the encouraging external environment," said Ajay Kapur, ...
GCC 1H18 sales rise by 11.4%
Grupo Cementos de Chihuahua (GCC) reports that its 1H18 sales increased 11.4 per cent to US398.8m, generating US$115m in EBITDA, up 22 per cent YoY. However, the company's net result slipped, registering a minor loss of US$0.6m. In the 2Q18, sales advanced 6.9 per cent to US$232.3m when compared with the 2Q17. EBITDA rose 8.7 per cent in the 2Q18 to US$69.4m. The company also reported a net...
Cimerwa plant upgrade should see cement prices start to fall
Cimerwa expects its cement plant upgrade to stabilise the domestic market after shortages sent the price of a bag of cement up nearly 50 per cent in recent months. Rwanda has resorted to importing cement from neighbouring countries such as Uganda and Tanzania to cover the shortages. Bheki Mthembu, CEO of Cimerwa, told Reuters the company carried out maintenance and upgrade works on its plant ...
Molsabana to transport cement by rail
Colombia-based Molienda de la Sabana SAS (Molsabana) has signed a contract with Ibines Férreo, which will transport 320t of its cement every fortnight via the Bogotá-Belencito rail corridor. Molsabana owns a cement operation in Tocancipá, Cundinamarca and produces cement under the brand Fortecem. Established in 2013, the Tocancipá works is the successor to the 0.6Mta Sabanagranda works,...
Vietnam's Ministry of Construction opposes transfer of Quang Son to Vicem
Vietnam’s Ministry of Construction has opposed the Ministry of Industry and Trade’s proposal to transfer the 1.5Mta Quang Son facility from Vinaincon to Vicem, both state-owned corporations, partially due to the plant’s losses and mounting loans, according to Viet Nam News. "Quang Son cement plant is located in an unfavorable position for transportation that leads to high production costs,"...
Falcon Cement's 2017 revenue up 56%
Bahrain's Falcon Cement Company (FCC) has reported that its total income for 2017 rose to US$45.6m, while its net profit hit US$8.2m. "Despite challenging market conditions and competition, we're delighted to have achieved solid growth in our sales and market share. As a result, we saw profits rise a considerable 54 per cent," said Hisham Alrayes, chairman of the board of directors. "These...
ACC announces 11% YoY revenue increase in 2Q18
India’s ACC Ltd has announced an 11 per cent YoY rise in revenue to INR38.48bn (US$557.85m) in the 2Q18, while EBITDA advanced 10 per cent to INR5.4bn. Profit remained largely flat, however, showing growth of one per cent to INR3.26bn. Cement volumes increased 7.4 per cent to 7.2Mt in the period, with a positive outlook for demand forecast for the rest of 2018. "The economic upswing in 20...
Qatar Cement records 6% profit decline in 2Q18
Qatar National Cement recorded a six per cent YoY fall in net profit to QAR78.26m (US$21.5m) in the 2Q18, compared with QAR83.25m of the year-ago period. In the 1H18 period the company’s profit remained mostly flat YoY, reaching QAR168.52m from QAR168.09m. However, revenue showed a significant decline of 21.9 per cent to QAR434.55m from QAR556.75m.
Anhui Conch reports positive profit expectations
The Board of Anhui Conch has announced it expects to record a YoY increase of CNY5373-6717m (US$788.3-985.4m) in its net profit attributable to equity holders for the six months ended 30 June 2018, prepared in line with PRC accounting standards). In 1H17 the company’s unaudited net profit attributable to equity holders reached CNY6717m while the net profit after extraordinary items attributa...
Dangote Cement 1H18 revenues of NGN482.4bn
Dangote Cement Group reported 1H18 unaudited revenues of NGN482.4bn (US$1.33bn), up 16.9 per cent and group EBITDA up 20.8 per cent at NGN246bn. Joe Makoju, group CEO, commented on the company's 1H18 results: "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues rose by more than 18 pe...
Cementos Pacasmayo sees 10% rise in 2Q18 net income
Peru’s Cementos Pacasmayo saw its revenues rise 2.3 per cent YoY to PEN287.5m (US$87.8m) in 2Q18 as sales volumes of cement, concrete and precasts advanced 1.9 per cent YoY to 0.534Mt on the back of higher sales to medium-sized companies and the public sector. Consolidated EBITDA reached PEN84.7m, up 9.7 per cent YoY in 2Q18 while the cement EBITDA margin increased by 2.5 percentage points ...
Orient Cement plans Telangana expansion
India’s Orient Cement Ltd has received the first stage of environmental clearance for its INR20bn (US$291m) project to expand its Telangana facility. Construction to increase capacity from 3.05Mta to 7.5Mta is expected to commence within four months, once it has received the final clearance from the Ministry of Environment, Forest and Climate Change (MoEF). Deepak Khetrapal, managing direct...