Cement News tagged: Corporate
Pakistan: start-up of second Cherat production line
Cherat Cement Factory's Line 2 with a cement capacity of 4500tpd formally started production on 31 October 2016. The construction of the second line began in 2014 and has been completed within two years, said a senior manager at the factory. Cherat Cement is a a Ghulam Faruque Group (GFG) company and its existing 3200tpd line has been operational since 1985. The plant is located at Lakra...
Indonesia: Semen Baturaja 9M16 net profit down 34% YoY
PT Semen Baturaja announced a near-34 per cent fall in January-September 2016 net profit from 9M15 to IDR174.74bn (US$13.4m) from IDR264.66bn. The drop in net profit was attributed to the rise in the cost of goods at a time when revenues increased only marginally. Revenues in the first nine months of 2016 edged up to IDR1.04trn from IDR1.03trn in 9M15.
India: ACC reports 10% fall in cement deliveries in 3Q16
The Indian LafargeHolcim subsidiary ACC Ltd reported a 0.5 per cent reduction in cement deliveries for the first nine months of the year to 17.54Mt, while in the third quarter the reduction was a more notable 9.6 per cent to 5.07Mt. The turnover declined by 3.6 per cent to INR82.74bn (EUR1133.50m) while EBITDA came off by 7.4 per cent to INR11.65bn (EUR159.58m), but the pretax profit rose ...
Dangote sees 21% rise in revenues, but drop in profit for 3Q16
Dangote reported a revenue of NGN442bn (US$1.4bn) for the nine months ended 30 September 2016, representing a 21 per cent YoY increase from NGN365bn in 9M15. Profit after tax fell to NG133bn from NGN157.9bn in 2015, impacted by foreign exchange issues and resulting in a much higher cost of sales, up from NGN138.694bn in 9M15 to NGN231.684 in 9M16. The Managing Director of Dangote Cement, ...
Peru: Unacem reports loss of US$1.15m in 3Q16
The company Union Andina de Cementos (Unacem), one of the two largest companies in the sector in Peru, reporteda loss of PEN3.9m (US$1.15m) in the third quarter due to lower sales due to a fall construction activity. This result compared to a profit of PEN24.7m for Unacem between July and September 2015. Unacem revenues in the 3Q16 amounted to PEN464.6m compared to PEN496.1m in the same peri...
Thailand: SCCC profits shrink
Siam City Cement Co (SCCC) posted a smaller profit for 9M16 as a result of higher financing costs, spending on acquisitions and annual shutdowns. CEO, Siva Mahasandana, said the net sales for 9M16 stood at THB24.8bn (US$708.4m), a five per cent increase from the THB23.7bn registered in the same period of 2015. Net profit fell 16 per cent YoY from THB3.6m to THB3m in the period under review....
Portland Valderrivas board approves Giant 55% sale to Elementia
The board of Spain’s Cementos Portland Valderrivas has formally approved the sale of a 55 per cent stake in its US unit Giant Cement Holding to Mexico’s Elementia, owned by Carlos Slim, who owns a 35.6 per cent holding in the Mexican company via his Grupo Carso. The deal includes a US$220 capital increase in Giant with subscription rights granted to Elementia, who will extend a loan of US$3...
Cementir CEO: Italy's cement market has finally reached the bottom
In an interview with Reuters, CEO and Chairman of Cementir Holding, Group Francesco Caltagirone jr, said "After nine year of contraction of cement output, I think the Italian market has reached the bottom," he said. Domestic producers hit by the crisis could be a buying opportunity, Caltagirone said, adding the right target would have a price tag of no more than "tens in million of euros"...
Cemex' gearing declines to a still high 164 per cent
During the first nine months of the year, Cemex' turnover eased by 1.9 per cent to US$10,467.4m, while EBITDA was 8.5 per cent ahead at US$2138.1m. The trading profit advanced by 15 per cent to US$1452.2m while the net interest charge declined by 6.3 per cent to US$888.9m. The pretax profit more than trebled from US$164.7m to US$689.5m. The tax charge declined from 128.4 per cent to 18.2 per c...
Eagle Materials’ 1H16 profit rises by 55%
Eagle Materials' 1H16 turnover to the end of September, including its share of the Texan cement joint venture with HeidelbergCement, improved by 1.7 per cent to US$682m. The trading profit advanced by 54.5 per cent to US$166.2m. After a net interest charge that was 8.3 per cent higher at US$9.6m, the pretax profit improved by 58.7 per cent to US$156.6m. The tax charge was 64 per cent higher, l...
Brazil: Brennand Cimentos plan new 2.2Mta cement plant
Brennand Cimentos, which owns National Cement, has presented to Brazil's Municipal Council for the Environment (COMDEMA) a project to build a 2.2Mta cement plant in Itaiacoca district, Conceição region of Brazil. The new plant is to be called Compania Paraná Cimentos (CPR). The project, with estimated investment of BRL700m (US$221m), has currently applied for a preliminary permit at the En...
Cemex Latam Holdings 9M16 net sales fall 8%
Cemex Latam Holdings SA (CLH) announced that its consolidated net sales reached US$1012m in the 9M16. This is a fall of eight per cent during the first nine months of 2016 compared to same period of 2015. The decline was mainly explained as a result of foreign exchange fluctuations and the effect of lower cement volumes from our operations in Panama and Costa Rica. Jaime Muguiro, CEO of...
Pakistan: Lucky Cement 1QFY2017 profits up 16%
In its financial statement for the first quarter of the financial year starting in July, Lucky Cement has declared profits of PKR4.04bn (US$38.6m), the Express Tribune reports. This represents an increase of 16 per cent compared to the same period last year. Revenues were five per cent higher at PKR19.8bn, but much of the gain was driven by non-cement subsidiaries. Considering the cement...
Holcim Philippines 3Q profits up 15%
Holcim Philippines increased its net profit for 9M16 by nearly 20 per cent YoY to PHP5.4bn (US$111.8m), helped by a double-digit growth in cement sales. For the 3Q alone, the company's net profit rose by 15.3 per cent YoY to PHP1.7bn, which was attributed to strong sales figures and improved operational efficiency. For the 3Q operating cash flow increased by 11 per cent YoY to PHP2.7bn, dri...
Thailand: SCG sees cement revenues fall 19% in 3Q2016
Siam Cement Group (SCG) has announced that in the third quarter of 2016 profits rose by 57 per cent YoY, but at the company's cement and building materials division they saw a decline of 19 per cent. For the nine months to the end of September 2016, SCG’s profits are up 28 per cent on the same period last year, but cement division profits are down 13 per cent. Siam Cement Group has seen rev...
OCL India 2Q net profit up 154% to INR860m
OCL India Ltd reported a 154 per cent surge in in net profit to INR857.1m from INR336.9m for the quarter ended 30 September 2016 as the company derived a higher income from operations. The total income from operations of the Dalmia Group company increased to INR7.192bn from INR6.138bn in the year-ago period. The total expenses increased to INR6,164bn over INR5.72bn in the corresponding quart...