Cement News tagged: Corporate
FLSmidth establishes Colombian office
FLSmidth is expanding its operations on the Colombian market through the establishment of a new office in the city of Barranquilla in the northern part of the country. “The new office that opened on 1 January 2014 will bring FLSmidth even closer to its customers on the Colombian market and strengthen the local service offerings,” FLSmidth said in a statement. The company also added that ove...
HeidelbergCement takes over logistics company
HeidelbergCement has increased its participation in the logistics company Kerpen & Kerpen GmbH & Co KG from 30 per cent to 100 per cent, the German cement major said in a statement yesterday. The purchase price of around EUR23.5m was paid in the form of 416,477 new HeidelbergCement shares, which were issued as part of a capital increase in return for contributions in kind. Kerpen & Kerpe...
Kuwait Portland Cement full-year net profit up slightly
Cement trader Kuwait Portland Cement said in a bourse statement today its net profit stood at KWD7.85m (US$27.8m) for 2013, slightly up from KWD7.28m in the previous year. Earnings per share (EPS) increased to 86.4 fils from 80.1 fils. Kuwait Portland Cement said total assets declined to KWD 74m at end-2013 from KWD72.1m a year earlier. The board of directors proposed an 85 per cent cash di...
Pakistan: DG Khan second-quarter profit rises
DG Khan, one of Pakistan's leading cement producers, posted a 14 per cent YoY rise in profit during 2QFY14 to PKR1.61bn but higher power costs affect gross margins. Earnings per share rose to PKR3.68 against PKR3.22 a year earlier. Revenues increased by 10 per cent YoY to PKR6.54bn while gross margins declined to 34 per cent from 40 per cent in the comparative period of FY13 due to hig...
Cemex confident on medium-term goals
Cemex remains confident that it is on track to meet its medium-term EBITDA goal as it continues to capture the full potential from its existing portfolio to improve profitability and return to investment-grade status, the company said during its annual investor gathering. Speaking on the company’s strategy and outlook during Cemex Day 2014 held yesterday, Juan Pablo San Agustin, executive VP...
PCA names Anderson VP of public affairs, USA
The PCA has named Mark J Anderson group vice president of public affairs, effective 17 February 2014. He will be the key PCA government affairs representative, responsible for the overall direction and execution of legislative and regulatory initiatives in support of the association’s advocacy and promotion. “Mark will take the lead in shepherding the association’s legislative and regulator...
Buzzi sees advances in Russia and US
Italian cement major Buzzi Unicem saw turnover decline by 2.1 per cent last year to EUR2754m as the company saw another fall in its domestic market of Italy, but Russia and the US were its best performers. Net debt at the end of December was 5.3 per cent below the level seen a year earlier at EUR1066m. Group cement deliveries in 2013 increased by 0.3 per cent to 27.4Mt, but ready-mixed conc...
Cherat Cement six-month profit rises 17% YoY, Pakistan
Pakistan-based producer Cherat Cement posted a profit after tax of PKR710m (US$6.74m) in the six months to the end of December 2013. This translates into a rise of 17 per cent YoY despite a drop in exports. On a quarterly basis, the company recorded a profit of PKR437m compared to PKR339m in the corresponding period of last year. In FY12-13, Cherat posted a record profit of PKR1.22bn, up ...
Saudi Cement recommends SAR3.5/share for 2H13
Saudi Cement Co said that its board had recommended a cash dividend of SAR3.5/share (US$0.93) for the second half of 2013. This is the same as the dividend paid in the corresponding period of 2012. The company reported an eight per cent fall in fourth quarter profit, which the company blamed on lower sales and rising raw material costs.
Cemex falls back in Mexico but advances in the USA
Cemex' turnover improved by 1.6 per cent in 2013 to US$15,226.5m and EBITDA emerged 0.7 per cent ahead at US$2643m, while the trading profit advanced by 17.4 per cent to US$1517.8m. The net interest charge rose yet again and was up by 11.1 per cent to US$1551.5m while the pre-tax loss was reduced by 34.3 per cent to US$264.6m, and the net attributable came down by 7.6 per cent to US$843.1m. N...
HeidelbergCement's results hit by currency effects
The preliminary full-year 2013 figures from HeidelbergCement show turnover easing by 0.6 per cent to €13,936m, though on an underlying basis there was a 3.4 per cent increase. EBITDA eased by 2.1 per cent to EUR2424m, but improved by two per cent on a comparative basis, and the trading profit edged ahead by 0.2 per cent to €1607m. The number of employees rose by 1.1 per cent to 52,560, as a ...
Cemex LatAm Holdings sees improved profitability in most markets
Cemex Latin American Holdings (CLH) has reported 10 per cent increase in turnover for 2013 against the pro-forma numbers for the previous year and improved profitability was seen in most of Cemex LatAm's markets. EBITDA increased by 16 per cent driven by higher volumes, along with lower maintenance and fuel costs and lower distribution expenses, compared to pro forma 2012. EBITDA margins i...
Cementir offsets a weaker Italy by better markets elsewhere
Cementir Holding's turnover improved by 1.3 per cent to EUR988.6m, while at constant currencies the increase would have been 5.6 per cent. EBITDA improved by 22.9 per cent to EUR169.7m, though this was boosted by non-recurring credits approaching EUR10m. As a result, the margin improved from 14.1 per cent to 17.2 per cent, or to 16.2 per cent excluding non-recurring items. The trading pr...
Eagle Materials boosted by acquisition
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2013 rose by 37.2 per cent to US$757m. The trading profit before corporate overheads increased by 67.5 per cent to US$184.7m, of which cement contributed 41.9 per cent. The trading profit advanced by 96.8 per cent to US$166.3m. After a net interest charge 27...
Lafarge Pakistan to issue 143m to Pakistan Cement Holdings
Lafarge Pakistan Cement Ltd (LPCL) has received formal approval from the country's Securities and Exchange Commission to issue 143m shares to its holding company at par value (PKR10/share). This will increase the holding of Lafarge SA in Lafarge Pakistan from 73 to 76 per cent, according to a note to the Karachi Stock Exchange. The move, which reflects Lafarge SA's confidence in the Pakista...
Vicat advances in Switzerland, Asia and the USA
Vicat's turnover eased by 0.3 per cent in 2013 to EUR2286m, which translates into an underlying increase of 2.9 per cent on a like-for-like basis. Turnover in cement declined by four per cent to EUR1110m, or EUR1333m before deducting inter-group transfers. Aggregates and concrete sales rose by 6.1 per cent to EUR876m, while other activities saw turnover coming off by 3.4 per cent to EUR300...