Cement News tagged: Corporate

Saint-Gobain posts 6% decline in sales in 2023

04 March 2024, Published under Cement News

Saint-Gobain has reported sales of EUR47,944m in 2023, down 6.4 per cent from EUR51,197m in the previous year. EBITDA over the same period declined 1.7 per cent from EUR7123m to EUR7001m, while consolidated net debt fell 10.2 per cent from EUR8232m to EUR7393m. Recurring earnings per share were down 1.4 per cent from EUR6.48 in 2022 to EUR6.39 in 2023. Operating income fell 1.6 per cent YoY,...

LafargeHolcim Bangladesh's profit jumped 34% in 2023

04 March 2024, Published under Cement News

LafargeHolcim Bangladesh has reported that its sales grew 20 per cent YoY to BDT28.39bn (US$258.6m), and profit jumped 34 per cent to BDT5.94bn in 2023, compared to the previous year, it said in a media statement on 29 February. The company sales were BDT23.59bn, and the profit was BDT4.45bn in 2022.  "The performance demonstrates the strength of our diverse product portfolio and strategic ...

Kohat Cement Factory expands capacity and progresses Punjab plant

07 March 2024, Published under Cement News

Kohat Cement Factory has updated the Pakistan Stock Exchange Ltd (PSX) about an increase in cement production capacity at Kohat in Khyber Pakhtunkhwa. After the optimisation of the pyroprocessing section of the existing 6700tpd grey cement production line, the clinker production capacity of the company increased from 6700tpd to 7064tpd. Moreover, the company’s net profit after tax jumped ...

Pioneer Cement’s profit expanded by 49% in 1HFY23-24

04 March 2024, Published under Cement News

Pioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross reven...

BUA Cement records revenue growth of 27% in 2023

BUA Cement records revenue growth of 27% in 2023

01 March 2024, Published under Cement News

BUA Cement reports its full year 2023 audited financial statements and accounts, posting a strong revenue growth of 27.4 per cent to NGN460bn (US$282m) compared to NGN361bn in 2022, resulting from an increasing market share. However, with the devaluation of the naira last June and its continued depreciation, as well as growing inflation, the company faced increasing price pressures which imp...

DG Khan Cement's profit increased by 13% in 1HFY23-24

01 March 2024, Published under Cement News

DG Khan Cement Co Ltd (DGKC) announced its financial results for the half year ended 2023-24 on 26 February 2024. Its net profit after taxation increased by 13.2 per cent YoY to PKR1.05bn (US$379.2m). The rise in profit can be attributed to higher sales or 17 per cent during these six months ending on 31 December 2023.  Its net sales increased to PKR34.78bn from PKR29.76bn during this per...

Holcim proposes Michael H McGarry as independent Board of Directors member

Holcim proposes Michael H McGarry as independent Board of Directors member

01 March 2024, Published under Cement News

Holcim proposes Michael H McGarry, formerly chairman and CEO of PPG Industries, a leading global specialty coatings company, for election to its Board of Directors. The election will take place at Holcim’s Annual General Meeting on 8 May 2024. All other members are standing for re-election. Jan Jenisch is proposed for re-election as chairman of the Board.  With the proposed nomination, th...

Cementos Molins reports record results in 2023

29 February 2024, Published under Cement News

Spain-based Cementos Molins closed 2023 with revenues of EUR1349m, up six per cent YoY with gains across all businesses and regions as sales increased and price management impacted positively on the company’s results. EBITDA advanced 22 per cent YoY to EUR337m thanks in particular to the contribution of the company’s Spanish and Mexican operations. Higher volumes, successful efficiency plans...

Schwenk Zement terminates Namibian purchase agreement

29 February 2024, Published under Cement News

The purchase agreement between Schwenk Zement International GmbH and RWCo GmbH regarding shares in Schwenk Namibia (PTY) Ltd has been cancelled. The agreement, which was signed on 6 April 2023, was for 100 per cent of the shares in Schwenk Namibia, which holds, inter alia, 69.83 per cent of Ohorongo Cement (PTY) Ltd and 100 per cent of Energy For Future (PTY) Ltd. The agreement was waiting...

Holcim Spain joins Green Building Council Spain

29 February 2024, Published under Cement News

Holcim Spain has joined the Green Building Council Spain (GBCE) with the aim of promoting circular and sustainable construction practices in the building sector. According to the company, through this alliance it will offer all its expertise in the development of cutting-edge materials and solutions aimed at the construction of sustainable and carbon-neutral cities, while the GBCE will provi...

Eqiom to boost Lumbres capacity by 57%

29 February 2024, Published under Cement News

Eqiom , part of Ireland’s CRH group, has announced plans to increase the cement production capacity at its Lumbres plant in France from 0.7Mta to 1.1Mta by 2026, marking a 57 per cent expansion. The EUR300m investment will include the installation of a new kiln, which aims to lower the plant’s CO 2 emissions by 20 per cent, reduce its NO x emissions by 40 per cent, cut its SO 2 emissio...

Holcim posts record results in 2023

29 February 2024, Published under Cement News

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

28 February 2024, Published under Cement News

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

29 February 2024, Published under Cement News

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

27 February 2024, Published under Cement News

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

27 February 2024, Published under Cement News

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...