Cement News tagged: Corporate
Eagle Cement Corp prices IPO at PHP15
Eagle Cement Corp has priced its initial public offering (IPO) at PHP15 (US$0.30)/share, following the recent approval of its public listing by the Philippine Stock Exchange (PSE), to raise up to PHP8.63bn. The firm plans to sell 500m common shares by way of primary offer with an over-allotment option of up to 75m secondary shares. The offer period is set on 16-22 2017 while target listing ...
National Cement post 1Q loss
National Cement Co of Egypt reported losses of EGP40.4m (US$2.2m) in the first quarter of fiscal year 2016-17 against profits of EGP19.7m for the same period that year before, as shown by the company’s unaudited financial statements. The rise in losses between July and September 2016 is attributed to the increase in provisions by EGP37.2m, according to the company’s statement to the Egyptian...
Cementos Argos 1Q revenues impacted by Colombia
Cementos Argos posted a 6.1 per cent decline in consolidated revenues for the first three months of the year, citing a challenging first quarter affected mainly by Colombia. Over 70 per cent of revenues and EBITDA came from operations outside of Colombia. The US continues to be its main market in terms of revenues, cement and ready-mix volumes. For the first time, the Caribbean and Central A...
Cementir benefits from acquisitions
Cementir's first-quarter turnover rose by 33 per cent to EUR279.9m while on a like-for-like basis the improvement was just 0.5 per cent. EBITDA improved by 7.9 per cent to EUR23m, with only the Nordic countries showing an improvement. At the trading level there was a reduction from a EUR1.2m, profit to a EUR1m loss and at the pretax level the loss increased by 2.8 per cent to EUR6.2m. Net d...
Tunisia: Bizerte sees turnover up 7.5% but loss aggravates
Tunisia’s Ciments de Bizerte has reported a TND22.179m (US$9.175m) loss in 2016, increasing the loss from TND6.61m the previous year. Turnover reached TND61.451m, a YoY increase of 7.5 per cent when compared with 2015 when turnover reached TND57.173. The company’s operating result saw a loss of TND14.577m, affected by net financial charges to the tune of TND14.577m in 2016, up from TND1...
Lafarge France to modernise Martres-Tolosane unit
Lafarge France will invest EUR100m in the modernisation of its cement plant at Martres-Tolosane in Haute-Garonne, France. The company is currently selecting a contractor to carry out the work, which is scheduled to start at the end of the year. Jean-Louis Chauzy, president of the Economic, Social and Environmental Council of Occitanie, expressed his concerned that the cement company would c...
Raysut Cement Co net profit down 62%
Raysut Cement Co reported a 61.76 per cent decline in its net profit in 1Q17 impacted by lower sales volume and increased tax rate, according to its quarterly report submitted to the Muscat Securities Market on Tuesday. Group net profit fell to OMR3.09m versus OMR8.08m in the same period a year earlier. The decline was attributed to a significant increase in the cost of electricity, lower sa...
Titan 1Q results driven by US market
Financial results for Titan Group in the first quarter of 2017 recorded an improvement, primarily due to the continued recovery of the US market. All geographic regions where the group operates recorded higher sales volumes with the exception of Greece, where demand remains stagnant at low levels. Consolidated turnover was EUR361.8m posting a 7.1 per cent increase compared to the 1Q16. EBIT...
Tabuk Cement profit down
Tabuk Cement on Wednesday announced a 59.2 per cent decrease in net profit during the first quarter of 2017, compared to the same quarter last year, according to a bourse filing. Net profits fell to SAR8.7m (US$2.3m) in 1Q17, compared to SAR21.3m in 1Q16. The company attributed the YoY profit fall in 1Q17 to a decline in the amounts and value of sales and higher financial costs. Tabuk...
Vulcan Materials improves net profit
Vulcan Materials, the largest US aggregates producer, generated a 1Q17 turnover 4.3 per cent ahead at US$787.3m while EBITDA declined by four per cent to US$149.3m, having just over doubled the year before. At the trading level, the first-quarter profit improved by 11.5 per cent to US$67.4m and the net interest charge in the period increased by one per cent to US$34.17m, giving a pretax profit...
Eagle Cement Corp gets IPO nod
The Board of the Philippine Stock Exchange (PSE) yesterday approved the initial public offering (IPO) applications of cement maker Eagle Cement Corporation. Eagle Cement will be offering 500m primary shares at a maximum price of PHP16.00 (US$0.32) per share. The scheduled offer period for Eagle is 16-22 May.
Nico Delvaux appointed President and CEO of Metso Corporation
Metso's Board of Directors has appointed Nico Delvaux President and CEO of Metso, effective at the beginning of November 2017 at the latest. Nico Delvaux is currently Senior Executive Vice President for Atlas Copco AB and Business Area President for Compressor Technique, with responsibility for the global compressed air business of the Atlas Copco Group. "This nomination is part of Mets...
AshakaCem chairman resigns
Mallam Suleiman Yahyah, chairman of Nigeria-based AshakaCem Plc, has tendered his resignation from the company. “In line with the listing requirements of the Nigerian Stock Exchange (NSE), the Board of Directors hereby announce the resignation of Mallam Suleiman Yahyah, OON as the Chairman of the Board of Directors of the Company with effect from May 2, 2017," a statement by the company said...
HeidelbergCement's 1Q sales volumes boosted by Italcementi acquisition
In the first quarter, the sales volumes of HeidelbergCement’s building materials rose substantially as a result of the consolidation of Italcementi. The continued recovery of the construction industry in North America and Europe also had a positive impact on the development of sales volumes. In contrast, development in the emerging countries was mixed. In the first quarter, the group’s cemen...
FLSmidth sees strong momentum in service activities continue in 1Q
FLSmidth achieved its highest quarterly order intake from total service activities since 2012 reporting strong moment continued into the first quarter of this year. "The growing momentum in the global economy is filtering through to FLSmidth's service business, while demand for equipment and projects remains largely unaffected. Based on our extensive knowledge from projects, products, and s...
Southern Province sees 63% drop in 1Q profit
Saudi-based Southern Province Cement Co reported a 62.9 per cent drop in profits for the first quarter of 2017, compared to the same period of the previous year, while QoQ profits declined 30.9 per cent. Profits stood at SAR105m (US$28m) in 1Q17, compared to SAR283m in 1Q16, according to a filing to the Saudi Stock Exchange. The company attributed the decrease in profits to a drop in sale...