Cement News tagged: Corporate
CEMEX divests assets in Philippines
CEMEX has announced that its subsidiary, CEMEX Asia BV, has signed an agreement with DACON Corp, DMCI Holdings Inc and Seminara Mining and Power Corp for the sale of its operations and assets in the Philippines. Once closed, this transaction will further advance CEMEX’s portfolio rebalancing strategy. The assets to be sold by CEMEX Asia BV include 100 per cent equity interest in CEMEX...
Kohat Cement Co posted a profit of PKR6.512bn in 9MFY23-24
Kohat Cement Co Ltd (KOHC) announced its financial results for the 9MFY23-24 on 25 April. It posted a profit after tax (PAT) of PKR6.512bn (US$23.3m) compared to PKR5.363bn in the same period in the previous year, up by 21 per cent YoY. Result highlights from AHL Research report that the topline in the 9MFY23-24 remained stable at PKR29.972bn. Earnings per share (EPS) increased to PKR3...
Shiva Cement reports loss in FY24
India-based Shiva Cement Ltd has reported revenue from operations of INR1444.5m (US$17.3m) in the quarter ended 31 March 2024. This compares to INR978.5m in the previous quarter. The company saw a total loss for the three-month period of INR119.2m, down from the INR323.8m loss recorded in the previous quarter. Total expenses over the same period advanced from INR1423.1m to INR1605.4m. Fo...
Maple Leaf Cement Factory's profit falls 13% in 9MFY23-24
Maple Leaf Cement Factory Ltd (MLCF) announced its financial result for the 9MFY23-24 on the Pakistan Stock Exchange website on 25 April, posting a profit after tax (PAT) of PKR5.374bn (US$19.26m) compared to a PAT of PKR6.185bn in the same period of the previous year, down by 13 per cent YoY. Earnings per share (EPS) declined to PKR5.01 in the 9MFY23-24 from PKR5.76 in the year-ago period. ...
Saint-Gobain sales slip 6% in 1Q24
Saint-Gobain has reported total group sales of EUR11,356m in the first quarter of 2024, down 5.8 per cent from EUR12,406m in the same period a year earlier. According to the company, the decline was due to a contraction in new construction in Europe, but supported by growth in the Americas and Asia-Pacific. Volumes also fell, down 4.7 per cent YoY, while prices slipped 1.1 per cent. In n...
CEMEX sets record EBITDA in 1Q24
CEMEX has reported net sales of US$4138m in the opening quarter of 2024, marking a three per cent increase YoY. EBITDA over the same period has advanced by five per cent to US$772m, while the EBITDA margin increased 0.5 percentage points to 18.7 per cent. According to the company, three out of its four regional markets, accounting for 90 per cent of consolidated EBITDA, saw a combined gr...
HeidelbergCement Bangladesh reported a net profit of BDT459m in 2023
According to HeidelbergCement Bangladesh Ltd ’s (HB) 2023 annual report, the company successfully manufactured and distributed a combined total of 2.185Mt of cement through its three strategically-positioned plants in Kanchpur, Chittagong, and Mukterpur. This quantity represents a marginal 1.2 per cent decline compared to the aggregate sales volume achieved in 2022. Notably, the company’s ove...
Fauji Cement posts a profit of PKR7.043bn in 9MFY23-24
Fauji Cement Co Ltd (FCCL) announced its financial results for 9MFY23-24 on the Pakistan Stock Exchange website. The company posted a profit after tax (PAT) of PKR7.043bn compared to PKR6.968bn in the previous period, up by a meagre one per cent YoY. During the 3QFY23-24, earnings arrived at PKR1.769bn compared to PKR1.888bn, a fall of six per cent YoY, as reported in the initial financial c...
Holcim sales dip 2% in the 1Q24
Holcim has reported net sales of CHF5586m (US$6117m) in the opening quarter of 2024, down 2.4 per cent from the CHF5725m seen in the 1Q23. In local currency, sales were up 3.4 per cent YoY. Recurring EBIT in the 1Q24 came in at CHF532m, marking 7.8 per cent YoY growth, or 17.1 per cent growth in local currency. According to the company, the quarter saw a strong contribution from its Solution...
Titan receives DoE funding for calcined clay project
Titan America 's Roanoke plant in Virginia is to receive funding for its first-of-a-kind calcined clay production line. The US$61.7m award has been granted by the US Department of Energy (DoE) to support the innovative technology that aims to substantially reduce CO 2 emissions. According to Titan, the funding underscores the company’s dedication to reducing CO 2 emissions throughout t...
Star Cement begins production at new clinker line
Star Cement has commenced production at its new clinker line in Lumshnong, Meghalaya, India, with effect from 21 April. The new line has a clinker production capacity of 3.3Mta. Also located in Lumshnong is Star Cement’s 1.67Ma integrated cement plant, reports Projects Today. The company also has two grinding units – a 2Mta plant in Sonapur , near Guwahati, and a 2Mta works at Mohitna...
GCC net income up 51% in 1Q24
GCC SAB de CV reported a 11.9 per cent YoY increase in consolidated net sales to US$272.8m in the 1Q24 from US$243.9m in the 1Q23, mainly on the back of higher sales volumes in the US and favourable pricing in both markets. However, operating expenses were up by 45.5 per cent YoY to US$58.5m in the 1Q24 from US$40.2m in the year-ago period. The company posted a 31.6 per cent advance in EBI...
Heidelberg Materials UK opens new recycling hub
Heidelberg Materials UK has opened a new recycling hub at its Appleford depot in Oxfordshire, UK. It is the first of several planned this year as part of the company’s strategy to conserve natural materials and promote the circular economy. The Appleford hub will recycle construction waste, diverting it away from landfill and processing and reusing it to deliver sustainable products to i...
Qatar National Cement reports dip in sales in 1Q24
Qatar National Cement Co has reported sales of QAR106.06m (US$29.14m) in the first quarter of 2024, ended 31 March. This compares to QAR127.95m in the same period a year earlier. Net income came in at QAR51.37m, down from the QAR64.1m seen in the opening quarter of 2023. Basic earnings per share from continuing operations stood at QAR0.08 in the 1Q24, compared to QAR0.10 in the year-ago ...
UltraTech agrees to acquire India Cements grinding facility
India’s leading cement producer, UltraTech Cement , has agreed to purchase a 1.1Mta grinding facility in Parli in Maharashtra for INR3.15bn (US$37.8m) from India Cements Limited . UltraTech, a subsidiary of the Aditya Birla Group, will also invest INR5.04bn to expand its total capacity by 3Mta, including the Parliament facility. The acquisition of the facility, as part of an asset pu...
DG Khan Cement posts 6% YoY profit growth in 9MFY24
DG Khan Cement Co Ltd (DGKC) announced its financial results for the 9MFY24 and 3QFY24 on the Pakistan Stock Exchange (PSX) website on 19 April. It posted a profit after tax (PAT) of PKR2.23bn (US$8.25m) compared to PKR2.11bn in the same period last year, up by six per cent YoY. However, during the 3QFY24 (January-March 2024), earnings remained consistent at PKR1.18bn. A cursory review o...