Cement News tagged: Corporate
Martin Marietta boosted by TXI acquisition
Martin Marietta Materials, with a three-month contribution from Texas Industries (TX)I, increased turnover by 30.5 per cent to US$2101.6m in the first nine months of the calendar year, while EBITDA almost doubled by rising by 99.2 per cent to US$565.4m. The trading profit rose by 26.5 per cent to US$196.3m and the net interest charge was 10.8 per cent higher at US$45m. Pre-tax profit advan...
Saudi Arabia: Tabuk third-quarter profit down 24%
Tabuk Cement Co recorded SAR21.6m (US$5.76m) net profit in the third quarter of 2014, a decline of 23.94 per cent YoY from SAR28.4m. On a quarterly basis, net earnings were down 49.88 per cent from SAR43.1m. In the first nine months of 2014, net profit amounted to SAR108.7m, down 19.66 per cent compared with SAR135.3m a year earlier.
Holcim and Lafarge formally notify EC
Lafarge and Holcim have formally notified the European Commission (EC) of their proposed merger to obtain regulatory approval and have made slight changes to the list of assets being disposed in Europe. During the pre-notification discussions which Lafarge and Holcim have had with the European Commission, the list of proposed assets for divestment in Europe has been slightly amended. Compared...
CIMAT to invest in new kiln and grinding plant
Following the strong demand in the Gabon cement market, domestic producer CIMAT will install “a latest-generation kiln with a production capacity between 3600-4000tpd. The installation will be in line with international European standards, necessary to produce high-quality cement,” said the company in a statement. The Gabon cement producer is also investing XAF23bn (US$44.5m) in the co...
Peru: Cementos Pacasmayo profits fall 17% in 3Q14
Cementos Pacasmayo reported a YoY drop in net profit of 17 per cent for 3Q14 as cement dispatches fell due to the deceleration in Peru’s economy. In the July-September quarter, the company’s profit fell to PEN40.5m (US$14m) from PEN48.8m in 3Q13. Net sales fell six per cent YoY to PEN316.2m from PEN336.4m in 3Q13. Cost of sales decreased 7.3 per cent to PEN276.2m as did output, which saw a ...
CNBM to acquire stake in Shanshui Cement
China National Building Material Co (CNBM) is set to acquire a 20 per cent stake in Shanshui Cement Group for HK$1.56bn (US$201m). Shanshui Cement will sell 563.2M new shares at HK$2.77 each, according to a statement to the Hong Kong stock exchange yesterday. Shanshui said it plans to use the proceeds to replenish working capital, reduce its debt level and improve efficiency. In a separate...
Kohat Cement 1QFY15 net profit up 11% YoY
Pakistan-based producer Kohat Cement posted a net profit of PKR683m (US$6.6m) in the three months to the end of September 2014, up 11 per cent YoY. The company attributed the higher earnings to better income on cash placements and lower financial charges, Sherman Securities reported on Monday. During the first quarter of FY15, sales revenue increased by 11 per cent to PKR2.9bn amid higher...
Kenya: EAPCC swings to full-year loss
East African Portland Cement posted a net loss of KES386m (US$4.32m) for the year ended June 30, due to price competition, high staff costs and the weakening shilling. The Kenyan cement producer posted a net profit of KES1.7bn a year earlier. The company said its administrative costs had gone up by KES700m following a restructuring of its management, staff compensation and an increase in st...
SCG earmarks new five-year investment budget
Siam Cement Group (SCG) has earmarked THB200-250bn for a new five-year investment budget starting next year, the Bangkok Post reports. Chief executive and president Kan Trakulhoon added that the company is eyeing investment in a tech company that could complement SCG's core businesses. "The company we're talking with at the moment is a technology company in Europe," Mr Kan said. The focus wi...
QNCC nine-month net profit ahead
Qatar National Cement Company (QNCC) net profit rose to QAR332m (US$91.2m) in the first nine months of 2014, up 3.1 per cent from the QAR322m posted a year earlier. Earnings per share (EPS) rose to QAR 6.76 from QAR 6.56. Total assets at end-2014 increased to QAR2.85bn from QAR2.78bn at the beginning of the year.
3Q14 results: Cemex’ gearing stands at 157%
During the first nine months of the year, Cemex’ turnover increased by 4.6 per cent to US$11,870.9m while the EBITDA was 1.8 per cent higher at US$2037.1m. The trading profit advanced by 24.2 per cent to US$1150.2m and the net interest charge rose by 11.2 per cent to US$1266.6m. The pretax result went from a US$174.3m loss to a profit of US$132.2m. A 7.1 per cent lower tax charge led to a net ...
Cementos Portland reports EUR45.3m net loss in 9M14
Spain's Cementos Portland has reported a EUR45.3m net loss in 9M14, a 92.1 per cent increase when compared with the loss noted in 9M13. Turnover fell by 1.6 per cent YoY to EUR406.6m as non-profitable plants were closed, but cement sales were up by five per cent. EBITDA rose 95 per cent to EUR82.6m, fuelled by efficiency measures implemented in Spain and the US, the deregulation of the ...
Saudi Cement 3Q14 profits better than expected
Saudi Cement posted better than expected 3Q14 financial results, beating consensus estimates, according to Al-Rajhi Capital. The cement producer’s net profit grew marginally to SAR232m (US$61.8m) by +1.3 per cent YoY. The Saudi cement sector is gradually recovering from the effects of a labour crisis, with total local sales growing 5.4 per cent YoY in September. Saudi Cement sold 1.64Mt of ce...
PPC Zimbabwe to invest US$86m in extra capacity
PPC Zimbabwe announced a US$86m investment package in Zimbabwe over the next three years as it expects rising cement demand due to infrastructure projects despite a generally stagnating building sector. The funds are earmarked for manufacturing capacity and equipment. Road-building projects and exports to Zambia, Malawi and Mozambique are generating “significant” demand, according to the co...
Semen Indonesia starts Tuban WHR plant construction
Semen Indonesia has commenced the construction of a 30.6MW power plant at its Tuban cement works to reduce the company’s electricity costs. Using heat from the cement production process, the waste heat recovery plant represents an investment of IDR638bn (US53m). The project is expected to be completed in 26 months’ time with the plant due to come online in 2H16. In 2013 Semen Indonesia s...
Egypt: Arabian Cement’s profit decline 32% in 9M14
Egypt's Arabian Cement made a EGP209.57m (US$29.3m) post-tax net profit for the nine months to 30 September, according to the unaudited standalone financial results. The firm posted EGP309.3m for the same period a year earlier. Cement sales increased 17 per cent to EGP1.78bn, up from EGP1.53bn.