Cement News tagged: Corporate
Lafarge sees higher pricing in 2012
Lafarge said it expected higher pricing for 2012 after sales and operating profits rose in the first quarter, lifted by price increases for customers and stronger cement volumes in emerging markets. But net losses widened due to restructuring charges as the company continued to slash costs as part of a €500m (US$657.63m) savings plan. Earnings before interest, tax, depreciation and amorti...
Titan Cement 1Q12 loss widens as construction slows
Titan Cement Co SA, Greece’s biggest producer of the building materials, posted a wider 1Q12 loss as the country’s construction industry slowed and bad weather conditions hit the Balkans, Turkey and Greece. The net loss was €19.4m (US$25.5m) in the three months through 31March compared with a €4.3m loss in the same period a year earlier, according to a statement from the Athens-based compan...
Thailand: SCCC records B1.28bn Q1 net profit
Siam City Cement Plc (SCCC) reported a 14.6% YoY increase of net profit yesterday, up to THB1.28bn (US$41.3m) for the first quarter on the back of strong domestic cement consumption. Thailand's second-largest cement manufacturer saw net sales rise 12.4% from the year before to THB6.99bn, it said in a statement. "Cement consumption increased in the first quarter, driven by sizeable growth f...
HeidelbergCement lifts prices to stem cost surge
HeidelbergCement joined peers in raising prices after posting a 77% decline in operating profit in the 1Q12, a bigger fall than expected due to higher energy costs. Operating profit in the first three months of the year declined to €14m (US$18m) from €60m a year earlier, the company said on Thursday. That was below than the €52.9m expected on average by analysts in a Reuters poll. "In ...
India: Madras Cements eyes 20% growth
Buoyed by likely growth in demand for cement in south and the company's renewed focus this year on a few states in the east and west, Madras Cements expects a 20% growth in its top line in the current FY12-13. This is also likely to see its capacity utilisation rise over 10 per cent during the year. The company will also become self-sufficient in captive thermal power generation this year, t...
Raysut Cement group profits rise, Oman
Oman-based cement producer, Raysut Cement reported net profit before tax rose 37.4 per cent to OMR6.84m for the first three months of 2012, from OMR4.98m (US$13m) in the same period last year. Pretax profit alone increased 26 per cent to OMR5.59m from OMR4.45m during the period under review. Total group revenue stood higher at OMR24.64m for the first quarter from OMR20.24m posted for the sam...
Cementos Pacasmayo first-quarter volumes ahead, Peru
Cementos Pacasmayo, a leading Peruvian cement company, announced today its consolidated results for the first quarter period ended March 31, 2012. In 1Q12, cement demand was stronger than anticipated as volumes increased 17% compared to 1Q11. Revenues in 1Q12 increased 20.4% compared to 1Q11. Gross margin remained high at 39.4%.
Heidelbergcement Ukraine quarterly loss
For the first quarter of 2012, HeidelbergCement Ukraine (Dnipropetrovsk region), one of the largest cement producers in Ukraine, incurred losses of UAH71.595m (EUR6.7m). According to Ukrainian News, the company reported a net revenue of UAH151.569m. HeidelbergCement Ukraineended 2011 with UAH24.083m, according to preliminary data, the news service added.
Vulcan boosts first-quarter EBITDA by 36%
Vulcan Materials' first quarter turnover showed a 10.0% recovery to US$535.9m and the EBITDA recovered by 36.4% to US$34,0m, but at the underlying level there was a near nine-fold increase to US$46.1m. At the trading level the seasonal loss narrowed by 24.4% to US$46.3m. After deducting a net interest charge that was 23.7% higher at US$52.3m, the pre-tax loss was 6.5% lower at US$95.4m and th...
Lucky Cement nine-month net profit rise, Pakistan
Lucky Cement has reported net profit of PKR4.68bn (US$51.5m) for the nine-month period ending 31 March 2012, representing an 89 per cent rise compared to the PKR2.47bn earned in the corresponding period last year. Earnings per share during the nine month period were PKR14.49 against PKR7.65 last year. Net revenue rose 29% to PKR 24bn primarily due to higher factory prices and a two per cent...
Argos gets green light for spin-off, Colombia
Grupo Argos (formerly Inversiones Argos) and Cementos Argos received today the approval of the Colombian Financial Superintendence to spin-off certain non-cement assets, currently under Cementos Argos balance sheet, to be contributed into Grupo Argos. In exchange for these assets, Grupo Argos will issue preferred non-voting shares to Cementos Argos’ shareholders at 0.31 preferred shares of Gr...
Loesche ThermoProzess GmbH integrates UCON division, Germany
Loesche ThermoProzess GmbH has taken over the specialised “Combustion Technology” department of UCON AG Containersysteme KG, Gelsenkirchen. For more than 60 years, this division of UCON AG Containersysteme KG has been well-known as Kuppersbusch Fachbereich Wärmetechnik. A large variety of industrial combustion systems have been developed designed and delivered by the company. Loesche Thermo...
South & Central America drive Cemex higher
Cemex’ first quarter turnover was up by 3.5 per cent to US$3502.6m and the EBITDA improved by 6.5 per cent to US$567.3m. The trading profit continued to recover strongly and rose by 33.9 per cent to US$240.4m. Fernando A Gonzalez, Executive Vice President of Finance and Administration, said, "The favorable performance in most of our regions leads us to believe that we are in t...
Portugal defends Cimpor takeover bid
Portugal's Treasury Secretary Maria Luis Albuquerque defended a takeover bid by Camargo Correa for Cimpor from suggestions it was against the national interests and the price was too low. "This operation appears to us the best alternative for the company ... it safeguards the national interests in the most attractive form that was possible to secure," Albuquerque told a parliamentary commit...
Standard & Poor's revises Titan's outlook
Standard & Poor's (S&P) Ratings Services revised its outlook on Titan Cement Co to stable from negative. At the same time, we affirmed our 'BB-' long-term and 'B' short-term corporate credit ratings on the group. S&P said the outlook revision reflects its view that "Titan will be able to sustain solid cash flows and an 'adequate' liquidity profile over the next 24 months. ??Titan was able to ...
Personnel change on the Supervisory Board of HeidelbergCement
As of 14 March 2012, Dr.-Ing. Herbert Lütkestratkötter resigned from his position on the Supervisory Board of HeidelbergCement AG for personal reasons. The Nomination Committee of the Supervisory Board of HeidelbergCement is intensively engaged in the selection of a suitable successor. “The Supervisory Board and the Managing Board of HeidelbergCement AG regret the resignation from offic...