Cement News tagged: Corporate
Holcim posts record results in 2023
Holcim has posted record results in 2023 with full-year net sales of CHF27,009m (US$30,662m), compared to CHF29,189m in the previous year. Recurring EBIT over the same period advanced from CHF4752m to CHF4760m, while operating profit improved from CHF3221m to CHF4577m. Earnings per share declined from CHF5.48 in 2022 to CHF5.37 a year later. According to the company, the record results were ...
City Cement predicts 8% cost increase
City Cement has said that its total costs are expected to advance by eight per cent following the increase in the price of fuel products used in cement products that was announced by Saudi Arabian Oil Co (Aramco) last month. According to Mist News, the direct financial impact is expected to be seen from the first quarter of 2024, although the company added that its investments in alternat...
Adbri reports 13% revenue rise in 2023
Adbri Ltd has reported revenue of AUD1922.9m (US$1259m) in 2023, up 13.1 per cent from the AUD1700.3m seen in the previous year. Statutory EBITDA advanced 5.2 per cent YoY from AUD282.6m in 2022 to AUD297.4m the following year, with underlying EBITDA coming in at AUD311m in 2023, up 30.9 per cent YoY. Statutory net profit after tax in 2023 stood at AUD92.9m, down 9.5 per cent from AUD102.6m ...
Martin Engineering expands in Italy
US-based bulk handling equipment specialist Martin Engineering has opened a new facility in Italy. The move follows a restructuring of the company’s Italian business to help improve growth and enhance customer service. Having been present in Italy for more than 30 years, the move to a new warehouse near Monza forms part of the company’s strategy to widen its ability to solve bulk handling p...
Fauji Cement posts 20% sales increase in 1HFY23-24
Pakistan’s Fauji Cement Co Ltd has reported sales of PKR40.35bn (US$145.75m) in the1HFY23-24, ended 31 December 2023. This compares to PKR33.67bn in the same period a year earlier, marking a 19.83 per cent YoY increase. Net profit over the same period advanced by 3.83 per cent from PKR5.079bn to PKR5.273bn. Over the six-month period, the cost of sales increased by 17.32 per cent from PKR2...
Thatta Cement reports profit in 1HFY23-24
Pakistan cement producer Thatta Cement Co Ltd (THCCL) has announced its financial results for the half year ended 31 December 2023 (July-December 2023) on the website of the Pakistan Stock Exchange (PSX). Its reported profit after tax was PKR358m (US1.28m) against a loss of PKR6.2m in the corresponding period last year. The recovery from losses can be attributed to higher sales and significa...
Companies circle for InterCement's assets
Companhia Siderúrgica Nacional (CSN) and a consortium led by Votorantim Cimentos , including Polimix and Buzzi, have made binding proposals for the purchase of the assets in Brazil of Loma Negra 's parent company InterCement Participações (InterCement), according to a local source. InterCement has commented that it has received a series of inquiries and expressions of interest in its a...
Dalmia Cement goes from 'Future today' to RCF expert
Dalmia Cement (Bharat Ltd) is rebranding from its current 'Future Today' slogan to roof column foundation (RCF) expert. The aim is to grow Dalmia Cement's brand faster than the Indian cement sector's forecast growth. Dalmia Cement's COO, Sameer Nagpal, says the target is to reach 14-15 per cent growth at Dalmia Cement against an industry average expansion of 10 per cent. RCF will tie Dalmia...
Bestway Cement Factory reports 1HFY23-24 fall in profit
Bestway Cement Ltd (BWCL) announced its 2QFY23-24 (October-December) and 1HY23-24 (July-December 2023) results on the website of the Pakistan Stock Exchange (PSX) on 21 February 2024. The company's net earnings at PKR6.78bn (US$24.25m) in 1HFY23-24 were down 15.9 per cent YoY. The high cost of finance, sales tax, excise duty and expensive cost of sales can be attributed to lesser profit duri...
Arabian Cement to penalise CNBM on Rabigh project
Arabian Cement Co has confirmed that it will impose a delay damage penalty of five per cent on CNBM International Engineering Co for the Saudi cement producer’s new mills at its Rabigh plant. According to Zawya, the cement manufacturer first awarded the SAR362m (US$96.5m) engineering, procurement and construction (EPC) contract to CNBM in April 2015. Although the new cement mills are n...
Emirates Steel Arkan and Magsort collaborate on decarbonisation
Emirates Arkan Steel (ESA) has announced a strategic collaboration with Magsort, a Finnish decarbonisation company, to drive an innovative initiative across ESA's Al Ain cement plant. The partnership, announced at the Cemtech MEA 2024 conference in Dubai last week, positions ESA’s cement operations at the forefront of sustainability and sets the stage for a transformative approach to green...
ACL announces new 4Mta plant in Jharkhand
India’s Ambuja Cements Ltd (ACL) is investing INR10,000m (US$120.6m) in a new 4Mta grinding plant in Jharkhand’s Godda district, reports The Hindu. According to ACL, the new unit will be located close to Adani Power (Jharkhand) Ltd and forms part of the company’s plans to dispose of fly ash in an environmentally safe way, contributing to a circular economy. ACL currently operates t...
Maple Leaf Cement Factory saw a fall in profit in 1HFY23-24
Maple Leaf Cement Factory Ltd (MLCF) reported its 2QFY23-24 (October-December 2023) and 1HFY2023-24 results to the Pakistan Stock Exchange (PSX), posting net earnings of PKR2.24bn (US$) in 2QFY23-24, down 23 per cent YoY and up 38 per cent QoQ. This takes 1HFY23-24 (July-December 2023) earnings to PKR3.86bn compared to PKR4.30bn, down 10 per cent YoY due to a decline in sales volumes. Acc...
NeoCem to build 100,000tpa calcined clay plant
Following four years of research NeoCem will install the company's first calcined clay production line in Saint-Maximin, near Senlis, France. The facility will have a capacity of 100,000tpa. To produce the cement, the company will use a flash calcination process, whereby the clay is crushed, dried and heated to 750˚C. It is then mixed with clinker and limestone and no longer needs to be rehe...
City Cement Co reports a fall in sales quantity during 2023
City Cement Co of Saudi Arabia has recently uploaded its annual financial results for the period ending on 31 December 2023 at the Saudi Exchange. During this period, the company’s net profit fell by 28.70 per cent to SAR82m (US$21.86m) from SAR115m earned in the same 12-months last year. A cursory look at the financial results tells that company sales shrunk by 17.36 per cent, which has cau...
Heidelberg Materials reports record results in 2023
Heidelberg Materials has reported record preliminary results for 2023 with group revenue up four per cent YoY to EUR21.2bn, despite what the company describes as a “weak market environment”. The result from current operations (RCO) improved by 29 per cent YoY to EUR3bn, while profit for the year attributable to shareholders came in at EUR1929m, up from EUR1597m in the previous year. The retu...