Cement News tagged: Corporate
Holcim's 1H24 profit growth driven by Solutions & Products
Holcim has announced record profitable growth in the first half of 2024. Net sales for the six-month period came in at CHF12,813m (US$14,516m), down 1.9 per cent YoY from CHF13,067m in the same period a year earlier but up 1.6 per cent in local currency terms. Recurring EBIT over the same time frame advanced 12.7 per cent in local currency from CHF2043m to CHF2210m, with the recurring EBIT m...
Ramco Cements sees 55% fall in net profit
The Ramco Cements Ltd reported a 55 per cent fall in net profit to INR355m (US$4.24m) during the quarter ended 30 June 2024, compared to INR793m in the same quarter of 2023. The company’s net revenue decreased by seven per cent in the first quarter of FY24-25 to INR20.97bn, down from INR22.49bn in the same period of FY23-24. During the first quarter of FY24-25, sales volume was 4.4Mt, ...
Cemex reports highest EBITDA margin in eight years
Cemex has reported strong 2Q24 results with a two per cent increase in EBITDA, while the EBITDA margin expanded to the highest level since 2016. The EBITDA margin was propelled by favourable price-to-cost dynamics, with prices rising mid-single digits amidst decelerating costs. Net sales were flat compared to the 2Q23, reflecting difficult weather conditions in key markets offset by pricing ...
Yanbu Cement sees 14% rise in 1H net profit
Saudi Arabia-based Yanbu Cement Co announced its interim condensed consolidated financial results for the period ended 30 June 2024. Sales for the six month-period advanced SAR428.37m (US$114.2m), up 7.7 per cent YoY from SAR397.56m in the 1H23. The increase was attributed to a rise in sales volumes and the average selling price. Operating profit increased 17.8 per cent YoY to SAR112.23m...
GCC posts 9% advance in 2Q earnings
Mexico-based GCC SAB de CV reported consolidated net sales down by one per cent to US$360.3m in the second quarter of 2024 from US$364.1m in the 2Q23. US cement and concrete prices increased by 5.3 and 8.1 per cent, respectively while in Mexico cement and concrete prices were up by 2.5 and 6.4 per cent, respectively. However, these increases were not able to offset falls in volumes. Cem...
Al Jouf Cement signs contract for NEOM City cement supply
Al Jouf Cement Co has signed a SAR104.19m (US$27.7m) contract to sell cement to Webuild SpA for NEOM construction projects. The joint deal will last 41-months from the date of signing, according to a bourse disclosure. Al Jouf Cement highlighted that the financial impact will reflect positively on its financial statements from the 3Q24 until the end of the contract period. Zawya states...
Breedon reports uptick in revenue in 1H24
Breedon Group has announced underlying revenue of GBP764.6m (US$985.9m) in the first half of 2024, up three per cent from GBP742.7m in the same period a year earlier. According to the company, this has been supported by its entry into the US. Underlying EBITDA over the same time frame has advanced five per cent to GBP118.1m, while the EBITDA margin has risen slightly from 15.1 per cent in th...
PPC signs agreement with Sinoma
PPC has signed an agreement with Sinoma Overseas Development Corporation to transform PPC’s operations in South Africa, Zimbabwe and Botswana. According to Engineering News, the agreement includes improving efficiency, modernising technology, lowering production costs, increasing the use of non-fossil fuels and expanding production capacity. Commenting on the agreement, Matias Cardarelli...
YTL Cement to acquire NSL
Malaysian cement producer, YTL Cement, has agreed to acquire Singapore-based NSL for MYR792m (US$169.5m). According to Business Today, NSL is principally involved in the provision of management services and investment holding while its subsidiaries produce and sell building materials, oil and petroleum-related products, and supply environmental services. It is one of the leading producers of...
Saurashtra Cement publishes increase in revenue
Saurashtra Cement Ltd has reported consolidated revenue from operations of INR17.65bn (US$210m) in FY23-24 (ended 31 March 2024), up from INR16.45bn (seven per cent YoY). EBITDA for the year was INR1.2bn, compared to INR572m in FY22-23, reflecting a 77.1 per cent YoY increase. Net profit for the year before tax came in at INR565m, marking an 88 per cent YoY increase. Blended cement sales...
Lafarge Africa launches ECOPlanet Unicem
Lafarge Africa Plc has launched ECOPlanet Unicem, Nigeria's first low-carbon multipurpose cement. Designed with an over 30 per cent reduction in CO 2 emissions, ECOPlanet signifies a major step in the company’s ongoing commitment to sustainable building solutions. Produced at its Mfamosing plant in Cross River State, ECOPlanet will be unveiled nationwide by the end of the year, as Lafarge...
Aggregates Industries UK names new CEO
Holcim has announced Lee Sleight as the new CEO of Aggregate Industries UK . He will take up his position on 1 August 2024. Mr Sleight joined the business in 2021 as managing director of the ready-mixed concrete division and in his time there transformed the business. Last year he moved to take up the role as managing director of the aggregates division. He has more than 20 years of exp...
Cementos Pacasmayo reports stable net profit in 1H24
Peru-based Cementos Pacasmayo SAA reported a 3.4 per cent uptick in income to PEN457.1m in the second quarter of 2024 from PEN442m in the 2Q23, supported by the sales mix as concrete and prefabricated sales increased due to the Piura airport project and the recovery of public investment. However, a contraction in the demand for bagged cement saw total sales volumes decrease by 5.8 per cent. ...
UltraTech sees sales increase in 1QFY24-25
UltraTech Cement Ltd , part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly...
DG Khan Cement to establish US subsidiary
Following the successful export of cement to the USA, the leading cement manufacturer and exporter in Pakistan, DG Khan Cement Co Ltd (DGKC), has officially informed the Pakistan Stock Exchange (PSX) of its intention to establish a fully-owned subsidiary in Houston, Texas, USA. The proposed name for this new venture is DG Cement USA LLC. This significant development was disclosed on 19 Ju...
Cemex announces EPD publication for its UK cement products
Cemex UK has published Environmental Product Declarations (EPDs) for products at its Rugby and Tilbury cement plants. The EPDs have been gained for cement delivered in bulk tankers, covering more than 80 per cent of manufactured cements. Paul Fletcher, head of sustainability for Cemex Europe, comments that, “Achieving third-party verification through the International EPD System provi...