Cement News tagged: Corporate

Saurashtra Cement 1Q20 net profit rises to INR66.2m

19 May 2020, Published under Cement News

Saurashtra Cement reported a net profit of INR66.2m (US$0.87m) in the quarter ended March 2020 as against a net loss of INR55m in the year-ago quarter ended March 2019. Sales rose 10.2 per cent to INR1.76bn in the quarter ended March 2020 from INR160.61bn in the previous year's equivalent quarter. For the full year ended March 2020, net profit reported was IBR565.1m against net loss of INR49...

Paraguay sees unexpected uptick in demand

19 May 2020, Published under Cement News

Paraguay-based Industria Nacional del Cemento (INC) saw an unexpected surge in demand between 4-8 May 2020 with average sales of 79,755 bags/day as distribution companies collected a backlog of deliveries and bought extra volumes as they anticipated the easing of lockdown measures. INC had to buy 40,000t of imported clinker recently, according to Esmerk Latin American News. In April 2020 sal...

Udaipur Cement Works records 207% surge in EBITDA

19 May 2020, Published under Cement News

India’s Udaipur Cement Works has reported an 18.4 per cent increase in total income to INR6.85bn (US$90.2m) for the financial year ending 31 March 2020, compared with INR5.79bn in the FY18-19. EBITDA surged 206.7 per cent YoY to INR1.26bn from INR410.9m. The company’s net profit also reached INR155.2m from an INR407.3m net loss in the previous fiscal year.

Hoffmann Green Cement Technologies appoint Ile-de-France region promoter

19 May 2020, Published under Cement News

Hoffmann Green Cement Technologies, a low-carbon cement producer, thas announced the appointment of François de Gliniasty as Technical and Commercial Promoter for the Ile-de-France region. François de Gliniasty, 45, has over 25 years of experience steering business promotion, sales and logistics strategies. As Technical and Commercial Promoter, François de Gliniasty’s mission will be to get ...

Boral announces new measures to control inventory levels

Boral announces new measures to control inventory levels

18 May 2020, Published under Cement News

The chief executive of Australia’s Boral Ltd, Mike Kane, has commented on the reduction of new orders in the Australian and US construction industries, and also announced new measures to stop the build-up of inventory levels in this environment. The company will now close its Berrima cement kiln in New South Wales (NSW) for three weeks in June, as Mr Kane noted it was not possible to run a ...

Ciments de Bizerte sees turnover rise in 1Q20

18 May 2020, Published under Cement News

Tunisia’s Ciments de Bizerte has seen an 18.7 rise in local turnover to TND22.9m (US$7.92m) in the first three months of 2020, against TND19.3m in the 1Q19. The turnover from exports also increased as dispatches to Libya resumed during the first quarter, according to the African Manager. However, the company suspended production and sales when the general lockdown was announced. Therefore...

Lafarge Cement Zimbabwe Ltd expects 30% decline in cement volumes in 2Q20

Lafarge Cement Zimbabwe Ltd expects 30% decline in cement volumes in 2Q20

18 May 2020, Published under Cement News

Lafarge Cement Zimbabwe Ltd said business volumes had declined considerably due to low demand amid the COVID-19 pandemic. The LafargeHolcim subsidiary said the lockdown will have an inevitable impact on volumes for the second quarter in 2020. "It is projected that 2Q2020 volumes will decline by 30 per cent with the possibility of spill over risks impacting the second half of the year," the c...

Tabuk Cement sees rising profit in 1Q

18 May 2020, Published under Cement News

Saudi-based Tabuk Cement posted a rise in net profit after zakat and tax to SAR28.91m (US$7.7m) in the 1Q20, from SAR3.63m a year ago. Sales in the 1Q20 advanced by 42.9 per cent to SAR75.42m from SAR52.77m in the 1Q19 with volumes rising. Finance, and selling and marketing costs fell while the company saw gains from adjusting cash flows for a financial liability, according to Reuters.

Beni Suef Cement sees 101% surge in net profit

18 May 2020, Published under Cement News

Egypt’s Misr Beni Suef Cement has reported a 101 per cent YoY increase in net profit to EGP59.37m (US$3.77m) in the first quarter of 2020, compared to EGP29.53m in the corresponding period of last year. However, sales declined 7.1 per cent YoY to EGP404.96m from EGP435.97m.

Southern Province Cement 1Q profit up

18 May 2020, Published under Cement News

Saudi cement producer Southern Province Cement Co reported a net profit after zakat and tax of SAR183m (US$48.8m) for the first quarter of 2020, up 52.5 per cent from SAR120m in the 1Q19. First-quarter 2020 sales increased 33.6 per cent to SAR457m from SAR342m in the year-ago period. Local sales volumes were up 27.5 per cent YoY and export sales advanced 48.6 per cent YoY in the 1Q20. Fina...

Eagle Cement Corp net profit falls 25% in 1Q20

15 May 2020, Published under Cement News

The Philippines' Eagle Cement Corp saw a 25 per cent YoY fall in first quarter net profit to PHP1.2bn (US$23.6m) as construction activities were halted in mid-March as part of measures to curb the coronavirus pandemic. Eagle’s net sales contracted by 16 per cent YoY to PHP4.5bn in the first three months. Cash flow fell by 14 per cent to PHP1.7bn. Prior to the enhanced community quarantine (EC...

Asia Cement Corp sees 32% decline in revenue

15 May 2020, Published under Cement News

Taiwan’s Asia Cement Corp has posted a 32.2 per cent decline in revenue to TWD13.14bn (US$439.2m) in the first quarter of 2020, compared with TWD19.39bn in the year-ago period. Net profit also fell 74.6 per cent YoY to TWD743.77m from TWD2.93bn in the 1Q19.

AfriSam now permitted to supply certain customers

15 May 2020, Published under Cement News

As South Africa has lowered its national coronavirus lockdown to Level 4, the supply of cement and other construction materials can now reach specific markets, according to Engineering News.  "With the lowering . . . to Alert Level 4, the new regulations permit AfriSam to resume some of its production and to supply certain customers," said AfriSam sales and marketing executive, Richard Tomes...

Hsing Ta Cement sees 14% decline in revenue

15 May 2020, Published under Cement News

Taiwan’s Hsing Ta Cement has seen a 14.3 per cent decline in revenue to TWD1.16bn (US$38.96m) for the January-March 2020 period, against TWD1.36bn in the 1Q19. The company’s net profit was also down 28.7 per cent to TWD91.34m from TWD128.05m.

Bolu Cimento reduces net loss in 1Q20

15 May 2020, Published under Cement News

Turkey’s Bolu Cimento Sanayii has considerably reduced its non-consolidated net loss to TRY11.04m (US$1.58m) in the first quarter of 2020, compared with a TRY21.19m loss in the 1Q20. Total revenue increased 43 per cent YoY to TRY104.1m in the January-March period, while the cost of sales surged 44.9 per cent to TRY99.14m from TRY68.4m.

Titan Group sees 6% revenue increase in 1Q20

14 May 2020, Published under Cement News

Based on robust US demand and resilience of markets in the eastern Mediterranean, Titan Group's consolidated revenue increased in the 1Q20 by 6.1 per cent, reaching EUR384.8m, despite the slowdown of business due to COVID-19 since mid-March. EBITDA declined by EUR3.7m, or 8.5 per cent YoY, reaching EUR40.6m, mainly due to the advanced costs of about EUR10m associated with the earlier timing o...