Cement News tagged: Corporate
Titan helped by stronger US performance
Titan's turnover increased by 4.9 per cent to EUR888.3m in the first nine months of 2013, but the EBITDA declined by 5.5 per cent to EUR153.6m. However, the third quarter did see a 21.9 per cent improvement in the EBITDA. There was no credit from the sale of emission rights compared with a EUR24m gain at this stage last year in respect of Greece and Bulgaria. The trading profit for the nine...
Holcim gets FIPB approval for India restructure
Holcim has received approval from the Foreign Investment Promotion Board (FIPB) of India to merge Holcim India Private Ltd (HIPL) with Ambuja Cements as part of plans to streamline its operations there. Holcim, which holds majority stakes in ACC and Ambuja Cements, announced plans in July to consolidate operations. In a two stage deal, Ambuja will first acquire a 24 per cent stake in HIPL fo...
Viettel Group acquires 70% stake in Vietnamese producer
Military-run Viettel Group has acquired a 70 per cent stake of Vietnamese cement producer Cam Pha Cement for VND140bn ($6.64m). The 139.8m shares were purchased from Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) at around VND1,000 each, the current book value of the cement firm, the Thoi Bao Kinh Te Sai Gon newspaper reported. Viettel, which holds a 21.3 per c...
CRH results broadly in line with last year
In its autumn trading statement, CRH announced that it expects the EBITDA to be broadly in line with last 2012 numbers, assuming normal weather patterns for the remainder of the year. Depreciation and amortisation charges as well as the net interest charge are forecast to be a little lower than in 2012, though the net debt is expected to be about EUR300m higher. Acquisitions and large capital...
Raysut sales ease in first nine months, Oman
Raysut Cement, the leading cement producer in Oman, reported a rise in pretax profit for the first nine months of 2013, but sales eased due in part to competition from neighbouring UAE. During the Jan-September 2013 period the company reported a 12.6 per cent YoY rise in net profit before tax of OMR21.52m (US$55.9m). Revenue was down slightly to OMR70.18m compared to OMR70.35m in the same pe...
Buzzi Unicem performance deteriorates in Italy and Mexico
Buzzi Unicem's turnover for the first nine months declined up by 3.2 per cent to EUR2078.5m and the EBITDA came off by 10.6 per cent to EUR335.8m. The trading profit was down by 16.4 per cent to EUR169.8m, but net financial charges came off by 9.5 per cent to EUR81.4m. After a 37.9 per cent increase in the contribution from associates, the pre-tax profit emerged 18.3 per cent lower at EUR95...
Tebessa, Ain Kebira and Chlef to go public, Algeria
The Algerian cement plants of Tébessa, Ain Kebira and Chlef have been selected to go public. In a statement to APS, the president of the Stock Exchange Supervisory and Organising Committee, Abdelhakim Berah, said these GICA factories were among the strongest in the country. For instance, Chlef has the largest production capacity in Algeria. The step indicates a further privatisation of th...
Dangote 3Q revenue rises on strong domestic demand
Dangote Cement reported a 28.7 per cent in revenue as demand continues to remain strong in its domestic market of Nigeria. According to the unaudited results, profit before tax (PBT) rose to NGN151.73bn (US$957.9m) compared to NGN106.43bn in 2012, while operating profit rose by 36.4 per cent to N156.89bn. Revenue for the period rose to NGN64bn compared to NGN244.50bn in the preceding year....
Italcementi 3Q13 sees cement sales in North America and Asia rise
Italcementi Group sales for the year to 30 September 2013 reflected an easing in the reduction in volumes, assisted by continuing healthy performance in Asia, the confirmed upturn on the North American market and the slower decline in the EU area. The Group’s key operating results (net of income from the sale of CO2 emission rights) were substantially in line with the first nine months of 201...
KHD interim report
KHD has released an interim report on business development, its financial position and the general economic scene. It stresses that the global economy remains sluggish, particularly due to weak growth in key emerging economies. On the other hand, some developed economies are generating positive momentum. Business Development In the first nine months of the year, KHD's order intake am...
Cementir's pre-tax profit more than doubles
Cementir's turnover for the first nine months of 2013 increased by 1.4 per cent to EUR741.4m as higher numbers in the Nordic countries, Turkey and the Far East nor than offset the reductions in Italy and Egypt, but the EBITDA did rise by 22.3 per cent to EUR116m. The trading profit advanced by 65.6 per cent to EUR50.7m. After a net financial charge 20.9 per cent lower at EUR11m the pre-tax pr...
HeidelbergCement doubles Group profit in 3Q13
HeidelbergCement records that sales volumes improved in all business lines compared with the 3Q12, due to the continued recovery of demand for construction materials in Europe and North America as well as the sustained growth in Asian and African countries. During the third quarter, cement and clinker sales volumes increased by 4.1 per cent to 25.3Mt (24.3Mt in 3Q12). The North American oper...
Lafarge advances in markets outside Europe and the Near East
In the first nine months of the year, Lafarge's turnover declined by 4.4 per cent to EUR11,484m, while the EBITDA fell by 10.5 to EUR2309m. At the trading level the reduction was 15.2 per cent to EUR1546m, while net financial charges eased by 1.7 per cent to EUR792m and other expenses fell to less than a third of the previous year's charge, leading to a pretax profit 6.3 per cent lower at EUR6...
Holcim management reshuffle
Holcim has announced a series of changes in their most senior management team that will further streamline and focus the leadership of the company. Bernard Terver, a member of the Holcim Executive Committee, will assume responsibility for Africa, the Middle East and the Indian subcontinent (India, Sri Lanka and Bangladesh). Onne van der Weijde will remain area manager for India and will be ...
Lafarge 3Q net profit steady, announces new cost reduction and innovation targets
Lafarge reported a slight increase in the third-quarter profit with on the back of reduction initiatives, despite sales being impacted by negative currency movements. Chairman and Chief Executive Officer Bruno Lafont said: "With improving volume trends and despite the adverse effect of exchange rates, we continued to progress in the third quarter on our strategic action plan. ...We have acc...
Pakistan cement sector 1Q earnings rise 14%
Pakistan's cement sector earnings rose by 14 per cent in the first quarter of the current fiscal with nine of the country's leading producers posting higher growth. Lucky Cement, DG Khan, Fauji Cement, Maple Leaf Cement, Attock Cement, Pioneer Cement, Cherat Cement, Kohat Cement, Facto Cement together constitute 68 per cent of the sector’s market capitalization. Analysts at JS Research at...