Cement News tagged: Corporate
Russia and USA prove Dyckerhoff's only first-half bright spot
German cement major and Buzzi Unicem subsidiary Dyckerhoff AG reported a decline in first-half sales volumes across all its market except Russia and the USA. Consolidated sales fell by six per cent. Group EBITDA was down by EUR3m which includes a one-time effect of EUR4m. In the previous year, one-time effects amounted to EUR5m. Pretax results were EUR10m, some EUR12m lower than the same pe...
Cementos Molins 1H profit falls 58%
Cementos Molins closed the first half-year with a profit of EUR8.3m, 58 per cent down on 1H12. The decline has been attributed to the poor performance of the Spanish subsidiaries, which recorded a EUR22.4m loss. The company’s overseas divisions returned a profit of EUR30.7m. The group's total turnover decreased by 8.6 per cent from the 1H12 and reached EUR416m. In Spain, the turnover decr...
Siam Cement second-quarter net profit surges
Siam Cement posted a surge in YoY net profit in the second quarter of 2013, boosted by strong earnings in its core businesses including its cement division. Thailand’s largest conglomerate doubled net profit for the April-June 2013 period to THB9.92bm (US$317m), up 132 per cent from THB4.28bn a year ago. Revenue increased six per cent in the second quarter from a year earlier to THB106.5b...
Eurocement plans full ownership of Ahangaran Cement, Uzbekistan
Russia-based Eurocement Holding AG is planning to increase its stake in Uzbekistan's second largest cement producer Ahangaran Cement up to 100 per cent. Currently, Eurocement Holding AG owns 83.9186 per cent or 4,136,269 shares in the company.???According to reports by Uzbekistan Daily, it now plans to acquire an additional 792,637 shares, or 16.0814 per cent stake in the company, Uzbekista...
Fitch upgrades Cemex to B+
Fitch upgraded its foreign and local issuer default rating of Cemex to B+ from B, the ratings agency said in a report. The upgrade is based on Cemex's improved capital structure and "the gradual improvement in the US cement market and an improving outlook for the growth in the company's EBITDA and cash flow," Fitch said. Fitch's action also takes into account the "improved confidence of t...
Vinaconex to sell majority stake in Cam Pha Cement
Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) is in talks to sell its 70 per cent stake in Cam Pha Cement. According to reports by Vietnam News Brief Service, the shares are to be sold to an overseas investor at below the par value of VND10,000/share but no lower than Cam Pha’s book value. Two foreign parties are said to be interested and are expected to put inje...
HeidelbergCement raises 2Q13 operating profit
HeidelbergCement, the world’s third-largest cement producer, reported a second-quarter operating profit as it managed to increase prices in its main markets. A rise in demand in Asia, Africa and North America, helped offset a slowdown in parts of Europe. Sales increased by 0.5 per cent in the second quarter to €3799m as successful cement and aggregates price increases had a positive impact ...
Italcementi's underlying EBITDA fairly stable
Italcementi's first-half turnover declined by 6.2 per cent to €2156.6m and the running EBITDA was down by 10.6 per cent to €298.6m, with the reduction primarily reflecting exchange rate movements and lower income from the sale of emission certificates. The trading profit dropped by 27.1 per cent to €77.4m, and after an 0.9 increase in the net interest charge to €51.8m and a swing into loss ...
Jaiprakash Associates downgraded, India
Two brokerages have downgraded Jaiprakash Associates Ltd, days after Deutsche Bank also cut its ratings and earnings estimates for the India-based cement producer. Morgan Stanley has downgraded Jaiprakash to "equal-weight" from "overweight", citing worsening headwinds for cement profitability, a reduced likelihood of the Reserve Bank of India (RBI) cutting interest rates and a lack of asset ...
Dr. Michael Mutz to head Aumund cement sales division, Germany
Dr Michael Mutz is to take on an overall management role of Aumund Fördertechnik GmbH’s cement sales division, the company has announced in a statement. In April 2012, Dr Mutz took over responsibility of the mineral processing division at Aumund and will now lead the cement division. He will be in charge of sales of both new equipment and retrofits. In the cement sector Aumund is a leading...
UltraTech first quarter hit by building slowdown
UltraTech Cement, India's largest cement producer, posted a 13.5 per cent YoY decline in its first quarter (April-June 2013), due to slowdown in home building and infrastructure projects. The Aditya Birla group company reported standalone profit of INR6.73bn (US$112.3m) for the April-June quarter. Net sales also declined 2.2 per cent to INR49.58bn. Going forward, Kumar Mangalam Birla, cha...
Madras Cement quarterly net profit down 44%
Madras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year. Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore. Expenditure rose by 11 per cent to INR839.70 crore. The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by ...
Dangote sees 53% pretax profit rise, Nigeria
Dangote Cement plc announced a NGN107.7bn (US$670m) profit before tax for the first half ended 30 June 2013. According to the firm’s six-month financial result released to the NSE, the profit before tax rose by 52.8 per cent compared to NGN70.8bn recorded in the corresponding period in 2012. Gross profit also increased, by 43.8 per cent from NGN91.9bn to NGN132.1bn, while operating profi...
Cementir improves first-half margins
Cementir's turnover improved by 2.2 per cent to EUR472.4m (US$627.6m) during first half of the year as improvements in the Far East, the Americas, Norway and Turkey more than compensated for lower volumes in Italy and Denmark. The EBITDA improved by 10.8 per cent to EUR62m while the depreciation and impairment charge was 3.5 per cent ahead at EUR44.3m, leaving the trading profit 34.8 per ce...
Cementos Portland Valderrivas reduces losses
Spain’s Cementos Portland Valderrivas cut losses by nearly 99 per cent to EUR0.6m (US$0.8m) despite a sharp decline in domestic cement demand. In the 1H12, the company had made losses of EUR48.6m. Valderrivas also swapped assets with Ireland’s CRH in 1H13, which provided capital gains of EUR104.8m. Valderrivas chairman and CEO José Luis Sáenz de Miera said: “Results for the first half re...
HeidelbergCement India notes INR80m 1Q13-14 loss
Higher input costs as well as a rise in fuel and power costs pushed HeidelbergCement’s Indian subsidiary into the red. The company reported a loss of INR79.5m (US$1.34m) for the first quarter ended 30 June 2013 in a BSE filing. In the equivalent quarter of last financial year, the firm had reported a INR192.7m net profit. However, HeidelbergCement India saw 1QFY12-13 income from operatio...