Cement News tagged: Corporate

Cemex records flat net sales of US$3.3bn in 4Q19

18 February 2020, Published under Cement News

Cemex announced that its 4Q19 net sales remained flat at US$3.3bn and fell for the full year by one per cent to US$13.1bn. Operating EBITDA, on a like-for-like basis, fell by 15 per cent in 4Q19 to US$554m and fell by 10 per cent for the full year to US$2.4bn. Cemex attributed the fall in net sales lower volumes in all regions, which higher prices in local currency were unable to offset. Net ...

Cementos Pacasmayo sees 8% uptick in 4Q sales

13 February 2020, Published under Cement News

Peru-based Cementos Pacasmayo reported a 7.7 per cent rise in sales volumes of cement, concrete and precast in the 4Q19 due to higher sales to the public sector, El Niño reconstruction, some medium-size private projects as well as self-construction. The higher sales volumes resulted in a 9.8 per cent increase in revenues. Revenues increased 9.8 per cent mainly due to the increase in sales v...

Gulf Cement narrows loss

13 February 2020, Published under Cement News

UAE-based Gulf Cement reported a fall in revenues to AED443.6m (US$120.8m) in 2019, down from AED475.7m in 2018. This represents a YoY drop of 6.7 per cent. The company’s loss narrowed from AED33m in 2018 to AED26.8m. Gulf Cement operates a 2.7Mta integrated cement plant in Khor Khuir, Ras Al Khaimah. It has a clinker capacity of 3.8Mta.

India’s Saurashtra Cement posts Oct-Dec 19 net profit

13 February 2020, Published under Cement News

Saurashtra Cement has reported a net revenue from operations of INR1.52bn (US$21.3m) in October-December 2019 from INR1.58bn in the year-ago period. The company achieved a net profit of INR189.5m in the October-December 2019 quarter, a considerable improvement when compared with the INR6.7m loss reported in October-December 2018.

Yamama Cement reports full-year profit

Yamama Cement reports full-year profit

13 February 2020, Published under Cement News

Saudi Arabia-based Yamama Cement Co has posted full-year 2019 sales of SAR801.9m, representing a 53.9 per cent increase when compared with SAR521.2m in 2018. The company’s net profit after zakat and tax was SAR256.3m in 2019, when compared with a loss of SAR58.1m in the previous year.

Eagle Materials announces new chairman and CEO for independent companies

13 February 2020, Published under Cement News

The Eagle Materials Inc Board of Directors approved a plan in 2019 to separate its Heavy and Light Materials businesses into independent, publicly-traded companies by means of a tax-free spin-off to Eagle shareholders. Significant progress has been made on this plan since the announcement, and the Company continues to target the summer of 2020 for the completion of the separation. The Board...

HeidelbergCement expects debottlenecking grinding capacity by end March

HeidelbergCement expects debottlenecking grinding capacity by end March

13 February 2020, Published under Cement News

HeidelbergCement expects to complete its debottlenecking of cement grinding capacity in Imlai (Madhya Pradesh) and Jhansi (Uttar Pradesh) to be completed by 31 March 2020. The project represents an investment of INR207m (US$2.9m) and is being met through internal accruals, according to Accord Fintech. Upon completion the company’s total grinding capacity would reached 6.26Mta.   

FLSmidth sees order intake decline 10%

13 February 2020, Published under Cement News

FLSmidth’s order intake declined 10 per cent YoY to DKK19.554bn (US$2.86bn) in 2019, on the back of a decrease in large capital orders due to market uncertainty and a delay in customer decisions, according to a press release. "2019 has been a year of challenges but also successes. We maintained a stable growth in revenue and the service business gained momentum over the year. We see rising d...

Cherat Cement profits hit by high cost of sales in 1HFY20

12 February 2020, Published under Cement News

Cherat Cement Co Ltd (CHCC) of Pakistan has announced its financial result for 1HFY20 through Pakistan Stock Exchange (PSX) on 12 February 2020. It posted a loss after tax (LAT) of PKR560.1m (US$3.63m) during the first six months of FY20, against a profit after tax of PKR1.02bn earned during the same period last year. The high cost of sales and financing component impacted the company's bottom...

Vicat christens its first bulk cement carrier

12 February 2020, Published under Cement News

Vicat recently christened its first bulk cement carrier 'Capo Cinto' in Nice, France. As well as confirming the French company’s community focus in the southeastern part of the country, Vicat’s acquisition of its first bulk cement carrier, under a partnership with maritime logistics specialist ABCRM, is proof of enduring support for its business in Corsica, and it boosts the quality of the ser...

Anjani Portland Cement sees profit rise 165%

11 February 2020, Published under Cement News

India’s Anjani Portland Cement has seen a 165 per cent increase in net profit to INR62.8m (US$881,229) for the quarter ending 31 December 2019, rising from INR23.7m in the year-ago period. However, net income declined 15 per cent YoY to INR938.1m from INR1.1bn. In the first nine months of the FY19-20, net sales fell 2.5 per cent YoY to INR3.1bn from INR3.18bn. Despite this, profit advanced 17...

Buzzi Unicem cement sales reach 29.1Mt in 2019

13 February 2020, Published under Cement News

Buzzi Unicem's sales volumes during 2019 exceeded the level reached in the previous year in all the areas where it operates, thanks to the robust growth recorded in the USA. Group cement sales stood at 29.1Mt, up 4.3 per cent compared to 2018. Ready-mix concrete output, amounting to 12.1Mm 3 , was in line with the volumes of the previous year (+0.2 per cent). Consolidated net sales increased...

VICEM and FLSmidth announce sustainable production agreement

10 February 2020, Published under Cement News

Vietnam National Cement Corp (VICEM) and FLSmidth have announced their cooperation “to pioneer new solutions to significantly improve the sustainability of the cement sector in Vietnam”. The focus of the agreement will be to implement technologies that considerably reduce greenhouse gas emissions, find new alternative fuel solutions and ways to further improve air quality. The cooperation b...

Taiwanese cement producers see revenue decline in January

10 February 2020, Published under Cement News

Taiwan’s cement manufacturers have recorded a challenging start to the year, with Taiwan Cement Corp noting a 20.1 per cent decline in January revenue to TWD7.50bn (US$249.3m) from TWD9.39bn in the year-ago period. Elsewhere, Asia Cement Corp recorded a 34.1 per cent YoY decrease in revenue to TWD5.21bn for the first month of 2020. Lucky Cement saw a 16.1 per cent YoY fall in revenue to TWD2...

India Cements reports net loss in 3QFY19-20

10 February 2020, Published under Cement News

India Cements has reported an INR53.7m (US$751,232) standalone net loss in the quarter ending 31 December 2019, compared with an INR31.3m profit in the year-ago period. Total income also declined 4.3 per cent YoY to INR11.94bn from INR12.48bn. EBITDA was down by five per cent YoY to INR1.32bn from INR1.39bn in the 3QFY18-19. Despite this, the drop in EBITDA was reportedly mitigated by a redu...

Sumitomo Osaka Cement sees 55% increase in net profit

07 February 2020, Published under Cement News

Japan’s Sumitomo Osaka Cement has seen a 54.5 per cent YoY increase in net profit to JPY7.7bn (US$70.05m) for the nine-month period ended December 2019. Total sales saw a 3.3 per cent decline to JPY181.9bn, while operating profit rose 6.6 per cent to JPY10.7bn. For the full year ending March 2020, net profit is expected to advance 37.2 per cent YoY to JPY10.7bn and sales to decrease 2.4 per...