Cement News tagged: Corporate
LafargeHolcim's net profits double YoY in 2016
LafargeHolcim saw its net profit double on an annual basis to CHF1.9bn for 2016 (US$1.87bn), against CHF970m a year earlier. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) reached CHF1.611bn for the fourth quarter of 2016. In comparison, Reuters' analysts targeted some CHF1.52bn. Revenue for the last quarter stood at CHF6.526bn while Reuters' analysts ...
Holcim Croatia boosts revenues thanks to exports
Holcim Croatia saw its revenues rise by seven per cent YoY in 2016 as it improved exports. In addition, the company reduced its expenditures and kept cash flow high. However, the domestic market maintained the pressure to lower prices. Unfortunately, on the domestic market there is still a constant pressure to reduce prices, so all the effort we've invested as a team could actually have had ...
Holcim Philppines reports lower net income in 2016
Holcim Philippines (LafargeHolcim group) reported a lower net income of PHP6.8bn (US$134.8m) last year, compared to the PHP8.1bn recorded in 2015. The 2015 profit included a one-time gain of PHP2.6bn from the revaluation of Holcim’s investment in an affiliate. Strong revenues and effective cost management efforts lifted the company’s earnings. With higher revenues and manufacturing and enha...
LafargeHolcim interested in supply US-Mexican border wall
LafargeHolcim has expressed an interest in supplying construction materials to the US-Mexican border wall to be built under the Trump administration. The wall is one of the most controversial electoral promises of the new US president, Donald Trump. The invitation to tender requires interested parties to submit a prototype by 10 March. The US government plans to award prototypes as early as ...
Dangote switches strategies to improve margins
This week Dangote Cement held a press conference on its 2016 results and explained why its market strategy in Nigeria changed from a volume-based approach to one focussing on cashflow and increased profit margins going forward. In the first two quarters of 2016, Dangote found high cement volumes were working well. The group’s total cement volumes rose in Nigeria by 13.8 per cent to 15.1Mt i...
Germany: Karsdorfer and Sötenich plants for sale
CRH confirmed with its annual 2016 results, that it will sell a large portion of its German cement assets, as part of a wider EUR400m divestment programme. The company has agreed to sell the Karsdorfer integrated cement plant (2.3Mta) and Sötenich grinding plant (0.45Mta), to an unnamed purchaser, subject to approval by the German Competition Authority (Bundeskartellamt). CRH is expected to ...
Borneo: CMS Cement not raising prices
CMS Cement Sdn Bhd has no plans to raise cement prices. Cahya Mata Sarawak Berhad (CMSB) Group Managing Director, Datuk Richard Curtis, said: “Whenever there is pressure on the financial markets, rumours of price hikes in all materials surface. I am happy to record that CMS Cement has absolutely no plans to increase prices.” Mr Curtis cited new and more favourable rates for raw materials a...
Egypt: Sinai Cement returns to black
Fortune took a turn for the better for Sinai Cement in 2016. The company improved its net results significantly as it reported a net profit of EGP13.47m (US$835,183). In 2015, Sinai Cement reported a loss of EGP39.83m. Sinai Cement is owned by France’s Vicat group. The company operates a 3.5Mta cement plant in Sinai.
Siam City Cement renames Holcim's former Vietnam operations
Siam City Cement Public Co Ltd (SCCC), Thailand’s second-largest cement producer, announced it will rename its Holcim Vietnam Co into Siam City Cement Vietnam. SCCC signed an agreement in August 2016 to buy LafargeHolcim’s entire 65 per cent stake in LafargeHolcim Vietnam for US$890m. SCCC recently embarked on a strategy of building a regional asset footprint. The cement producer has ...
Egypt: Suez Cement reports deepening net loss
Suez Cement has reported a deepening net loss of EGP629.3m (US$33.8m) for 2016. This compares with EGP100.8m reported in 2015. Part of HeidelbergCement following its Italcementi acquisition, Suez Cement is the largest cement producer in Egypt. The company operates some 14.8Mta of grey cement capacity in its Tourah, Helwan, Kattameya and Suez plants as well as a 1Mta white cement plant at El...
Cemex will ‘gladly’ supply materials for Trump border wall
Cemex board Chairman, Rogelio Zambrano, has stated that Cemex would be happy to give estimates for the supply of cement to companies building the US-Mexico border wall, Reuters reports. Last Friday the US government said that it would release a request on or around 6 March, inviting companies to submit designs for the new wall. "If one of our clients asks us for a quote for materials, we...
Egypt: Tourah Cement sees improving net loss in 2016
Tourah Cement has reported improved company results in 2016. The company reduced its net loss from EGP218.97m (US$13.5m) in 2015 to EGP151.05m in 2016. Tourah Cement is a subsidiary of Suez Cement, which is owned by Germany’s HeidelbergCement.
CRH 2016 gross profits up 69%
CRH released its 2016 results with its gross profits at EUR1741m up by 69 per cent on its EUR1033m in 2015. Operating profits were also up EUR2027m, as against EUR1277 a year earlier. CRH announced that margins and revenues were ahead in all business divisions and sales of building materials amounted to EUR27.1bn, 15 per cent ahead of 2015. Meanwhile, EBITDA was up 41 per cent to EUR3.1b...
Hengya Cement gives green light to US$1bn Tanzania investment
Hengya Cement, a subsidiary of China's Hengyuan International Engineering Group, has announced that it will build a new cement plant in Tanga on Tanzania's northeast coast, reports website China.org.cn. The plant's capacity has not been disclosed, but Hengya claims that it will be one of the largest in sub-Saharan Africa. The initial phase of the project will cost US$1bn, with a second phas...
India: Prism Cement receives part-fuel requirement for 5 years
Prism Cement Ltd has successfully bid for 18,300tpa of coal from South Eastern Coalfields Ltd, a subsidiary of Coal India Ltd, in a recently-held auction of coal linkages for the cement industry, according to a filing to the Bombay Stock Exchange. With the bid, the cement producer has secured part of its fuel requirement for the next five years. The allocation was made at a nominal premium ...
Vicat's profits modestly ahead in 2016
Vicat's turnover eased by 0.2 per cent in 2016 to EUR2453.8m while EBITDA was up by the 3.2 per cent to EUR458m, while at unchanged exchange rates and other parameters there would have been increases of 4.1 and eight per cent, respectively. The trading profit improved by five per cent to EUR258m, with the increase at unchanged parameters being 9.6 per cent. The net financial charge was EUR10.1...