Cement News tagged: Corporate
India Cements returns to black in 1QFY24-25
India Cements reported a standalone 1QFY24-25 revenue from operations of INR9.72bn (US$115.8m), down 30 per cent YoY. Cement and clinker volumes decreased to 1,961,000t in the first quarter when compared with 2,666,000t in the 1QFY23-24. Overall blended cement sales accounted for 61 per cent of volumes, up from 59 per cent in the previous year’s equivalent period. The company’s posted a stan...
Holcim strengthens Peru presence
Holcim has acquired Peru-based Comacsa and Mixercon for a total value of US$100m. Comacsa is the country’s leading producer of industrial minerals and white cement. Founded in 2001, Mixercon is active in the production, marketing of cement and ready-mix concrete. Reporting to Holcim Peru, the companies are expected to operate independently and retain their own brands. The acquisitions ...
Lucky Cement saw a significant profit rise in FY23-24
Lucky Cement Ltd posted its financial results for the 4QFY23-24 (April-June 2024) and FY23-24 (July 2023-June 2024) on the Pakistan Stock Exchange (PSX) website on 9 August, where it reported unconsolidated earnings of PKR28.107bn (US$100.9m), showcasing a jump of 105 per cent YoY. On a quarterly basis, net profit improved to PKR9.458bn compared to PKR2.59bn in the same period last yea...
Qassim Cement posts 58% rise in 1H net profit
Saudi Arabia-based Qassim Cement Co posted revenue of SAR203.3m for the quarter ended 30 June 2024, representing a 48.2 per cent increase from SAR137.2m in the year-ago period. The growth was mainly attributed to an uptick in sales volumes and higher selling prices. Operating profit surged 164.3 per cent YoY to SAR74.7m. Net profit for the April-June 2024 quarter advanced by 91.3 per cent ...
FLSmidth preliminary and unaudited 2Q24 and 1H24 results
FLSmidth has announced preliminary and unaudited financial results for the 2Q24 and 1H24. Consolidated group revenue totalled DKK5bn (US$729.9m) in the 2Q24 and DKK9.8bn in the 1H24. Cement revenue reached DKK1.1bn in the 2Q24 and DKK2.3bn in the 1H24. Adjusted EBITDA margin for cement equalled 9.6 per cent in the 2Q24 and 8.6 per cent in the 1H24. The updated Adjusted EBITA margin guidance ...
Cementos Progreso emerges as a true regional player
While Cemex has divested its Caribbean assets in the Dominican Republic, one company has jumped on the opportunity to expand its presence in the region. Guatemala-based Cementos Progreso (Cempro) is rapidly extending its reach in the Caribbean and Central America as it adds further cement capacity to its growing portfolio. The San Pedro de Macoris plant in the Dominican Republic will add 2.4M...
Sumitomo Osaka Cement posts 1QFY24-25 results
Sumitomo Osaka Cement has shared consolidated financial results for the first quarter of the FY24-25. The company reported a revenue of JPY53.23bn (US$354.8m) for the quarter ended 30 June 2024, representing a 0.9 per cent increase from the JPY52.77bn reported in the same period a year previous. Although sales volume of cement was down compared to the 1QFY23-24, the company has raise...
Antimonopoly committee conducts market test on CRH deal
On 1 August, the Antimonopoly Committee of Ukraine (AMCU) conducted a market test for the acquisition of two Buzzi cement plants by CRH . This test was the penultimate step on the way to finalising the deal. The market test was comprised of surveys from industry stakeholders such as consumers, industry experts and other market participants. The AMCU often uses this tool to assess the viab...
UltraTech receives 5-star ratings for 12 of its mines
A total of 12 of UltraTech Cement Ltd’s limestone mines have been rated five-star for FY22-23 by Indian Bureau of Mines. The awards were given out on 7 August 2024 in New Delhi by the Union Minister of Coal and Mines, Shri G Kishan Reddy. At the programme marking the event, the minister congratulated UltraTech for its performance in all aspects of mining and contributing to India’s mining sec...
Positive operational results boost Loma Negra 2Q24 net profit
Loma Negra , the leading cement producer in Argentina, has announced its results for the three-month period ending 30 June 2024. Net sales revenue for the period was ARS136.1m (US$147m), marking a decrease of 28 per cent YoY. This can be explained by a 32.5 per cent decrease in the cement segment sales volume, a trend that is consistent with that of comparable companies. Consolidated ...
Taiheiyo Cement's 1Q net profit jumps to JPY13.53bn
Japan-based Taiheiyo Cement Corp reported a 7.9 per cent increase in revenues to JPY208.85bn (US$1.43bn) in the quarter ending 30 June (1QFY24-25) from JPY193.54bn in the year-ago period. The company's operating profit improved 5.9-fold to JPY11.05bn in the 1QFY24-25 from JPY1.86bn in the 1QFY23-24. Pretax profit increased four-fold YoY to JPY11.76bn from JPY2.98bn in the equivalent period...
Mangalam Cement reports 16% net profit rise in 1QFY24-25
Mangalam Cement Ltd , part of the BK Birla Group of Companies , posted unaudited revenues of INR3805.73m (US$45.32m) in the f posted unaudited revenues of INR3805.73m (US$45.32m) in the first quarter of FY24-25 ended 30 June 2024 (1QFY24-25), representing a 9.5 per cent drop from INR4205.31m in the 1QFY23-24. Other income amounted to INR317.83m, up from INR56.96m in the 1QFY23-24. The compan...
"Norm" OJSC increases sales by 11% in 2023
"Norm" OJSC ’s audited financial results of 2023 saw sales income increased by 11 per cent YoY to AZN226m (US$132.9m), while total profit increased by 21.1 per cent to AZN109m. Operating profit increased by 14.6 per cent YoY to AZN63.5m and pre-tax profit increased by 31 per cent YoY to AZN66.8m in 2023. Elvin Mirzayev, CFO of "Norm" OJSC, said that the company successfully continued its a...
Buzzi sees weak regional volume performance in 1H24
Buzzi Spa signalled that unfavourable weather conditions and falling sales contributed to regional performances being slightly down in the 2Q24, leading to lower cement volumes in the 1H24. Cement and ready-mix concrete sales in Italy declined in the first six months of 2024 by 5.9 per cent and 6.4 per cent, respectively, due to the abundant rainfall across the country during the spring m...
Buzzi SpA reports net profit fall of 2% in 1H24
Buzzi SpA has reported a 4.5 per cent drop in net sales to EUR2054m in the 1H24 when compared with net sales of EUR2150m in the 1H23. Cement and clinker sales fell by eight per cent to 12.017Mt from 13.057Mt in the 1H23. Ready-mix concrete sales decreased by 8.8 per cent to 4.664Mm 3 from 5.116Mm 3 in the 1H23. The company's consolidated EBITDA reached EUR553m, down 3.9 per cent on the ...
Eastern Province Cement sees 20% rise in 1H net profit
Saudi cement producer Eastern Province Cement Co posted a sales revenue of SAR585m (US$156m) in the first six months of 2024, representing a 29.1 per cent increase from SAR453m in the 6M23. The advance has been attributed to higher cement and precast sales volumes and values. In addition, reduced losses from share results of an associated company, lower other expenses, enhanced gains from in...