Cement News tagged: Corporate

Kohat Cement earns net profit of PKR1.526bn in 1HFY19

21 February 2019, Published under Cement News

Kohat Cement Co Ltd (KCCL) has announced its financial results for the half year ended 31 December 2018, declaring a net profit for the period of PKR1.526bn (US$10.9m), a fall of 7.17 per cent YoY, as compared to PKR1.644bn in the same period last year. The company had net sales during the half year PKR8.391bn from PKR6.867bn during this period, an increase of 22.19 per cent. KCCL incurred...

Cemex sells Broceni plant and Nordic assets to Schwenk Zement

20 February 2019, Published under Cement News

Cemex has announced that it has signed an agreement for the sale of assets in the Baltics and Nordics to Schwenk Zement for approximately EUR340m. The Baltic assets being divested consist of the 1.7Mta Broceni cement plant in Latvia, four aggregates quarries, two cement quarries, six ready-mix plants, one marine terminal and one land distribution terminal in Latvia. The assets divested also ...

Vicat's net underlying 2018 profits 12% ahead

20 February 2019, Published under Cement News

Vicat's turnover edged ahead by 0.7 per cent in 2018 to EUR2582m and EBITDA eased by 2.2 per cent to EUR435m, while at unchanged exchange rates and other parameters the changes would have been +5.9 per cent and +2.7 per cent, respectively. The trading profit was ahead by 0.8 per cent to EUR249m, with the advance at unchanged parameters being 5.9 per cent. The net financial charge was 31.6 per ...

Gulf Cement Co sees fall in profit in 2018

20 February 2019, Published under Cement News

UAE-based Gulf Cement Co reported revenues of AED475.707m (US$129.5m) in 2018, according to the company’s preliminary results. This represents an 18.4 per cent drop from AED583.203m the previous year. The company’s net operating profit of AED24.360m in 2017 declined to a loss of AED49.072m in 2018 while net profit fell from AED40.613m to a loss of AED32.99m over the same period.

Fauji Cement's profit increases by 43.88% in 1HFY19

Fauji Cement's profit increases by 43.88% in 1HFY19

20 February 2019, Published under Cement News

Fauji Cement Co Ltd (FCCL) has announced its financial results for the half year ended 31 December 2018, by declaring of net profit for the period of PKR1.82bn (US$13m), increased by 43.88 per cent YoY, as compared to PKR1.26bn in the same period last year. Net sales of FCCL during the half year increased at of PKR10.431 bn from PKR10.268 bn, up by two per cent during this period. It incurre...

HeidelbergCement Board level changes

20 February 2019, Published under Cement News

Dr Bernd Scheifele will leave the Managing Board in February 2020 after 15 years as chairman. Upon conclusion of his third term at the end of January 2020, Dr Bernd Scheifele will give up the chair of the Managing Board of HeidelbergCement AG to the current Deputy Chairman, Dr Domink von Achten, until the end of January 2025. At the same time, the Supervisory Board asked Dr Scheifele to st...

HeidelbergCement achieves 10% revenue growth in 2018

HeidelbergCement achieves 10% revenue growth in 2018

19 February 2019, Published under Cement News

HeidelbergCement has presented its preliminary, unaudited figures for sales volumes, revenue and result from current operations before and after depreciation and amortisation for the 4Q18 and the whole of 2018. Group revenue rose by 10 per cent to EUR 4.7bn, up from EUR4.3bn in 2017. In 2018 the cement and clinker sales volumes of the group increased moderately by three compared with the ...

Sell-off Ssangyong Cement on the cards

19 February 2019, Published under Cement News

Privately-held investment fund company Han & Co, is expected to sell off Ssangyong Cement in the second half of this year, according to Asia Today. The minimum sales amount is estimated to be KRW2.5trn (US$2.22bn). HanCo Cement Holdings holds a 77.44 per cent stake in Ssangyong Cement after becoming a majority shareholder in 2016. Upon acquisition Ssangyong Cement included car electric par...

Ambuja sees 188% 4Q net profit surge

19 February 2019, Published under Cement News

Ambuja Cements' sales rose 6.7 per cent to 13.63Mt in the quarter ended 31 December 2018 from 12.78Mt in 4Q17. This resulted in a total income of INR68.552bn (US$959.7m) in the October-December 2018 quarter, up 9.3 per cent YoY, while consolidated net profit surged 188 per cent to INR13.779bn. In its outlook LafargeHolcim-owned Ambuja Cements said the higher investment in the road network a...

Cementir shows modest improvement

22 February 2019, Published under Cement News

Cementir Holding's adjusted turnover in 2018 improved by 4.9 per cent to EUR1196.2m and EBITDA advanced by 7.1 per cent to EUR238.5m, while the trading profit showed a nine per cent improvement to EUR153.2m. Net debt at the end of 2018 was 53 per cent lower at EUR255.4m, largely thanks to the sale of Cementir Italia to HeidelbergCement, while purchasing an additional 38.75 per cent of Lehigh W...

Haver & Boecker South Africa names new MD and other appointments

19 February 2019, Published under Cement News

Haver & Boecker's South African subsidiary has been reorganised with Norbert Tschudy appointed the new Managing Director. The management team is completed by Sarina Karstens, head of finance and administration and responsible of the financial well-being of the subsidiary, and Fabian Stuart, head of operations and in charge of customer service. Meanwhile, Jade Edas joins the building materi...

Saurashtra Cement reports net loss of INR6.7m

18 February 2019, Published under Cement News

Indian cement producer Saurashtra Cement saw its net profit fall to INR6.7m (US$93,790) in the quarter ended December 2018 when compared with INR33.2m in the year-ago period. Sales rose 11.3 per cent to INR1.585bn in the October-December 2018 from INR1.424bn in October-December 2017.

National Cement Co opens new 1Mta line in Libya

20 February 2019, Published under Cement News

Ali Al-Issawi, Libyan Minister of Economy and Industry, and the board of directors of the National Company for Cement opened the 1Mta second production line at Zliten cement plant. Mr Al-Issawi said that the project marks the beginning of an industrial renaissance in the country and contribute to creating new employment opportunities for young people. "The new line will enable the National C...

KCP starts commercial production at Muktyala II

18 February 2019, Published under Cement News

India-based KCP has started commercial production on the second line of its plant in Muktyala, Andhra Pradesh, according to the company’s notification to the Bombay Stock Exchange. Some minor work such as the packing facilities of the 1.66Mta cement works remains outstanding but the company expects to complete this in about two months’ time. The latest addition takes the total capacity of ...

Cementos Mélon reports profit up 9% in 2018

18 February 2019, Published under Cement News

Cementos Mélon saw an 8.9 per cent increase in profits to CLP9.067bn (US$13.7m) in 2018 but EBITDA fell 2.9 per cent to CLP28.572bn. The fall was attributed to lower sales of cement and concrete as well as a rise in raw material costs.  The Chile-based cement producer reported a 4.5 per cent rise to CLP191.347bn from CLP193.014m in 2017.

Ashaka Cement to start 16MW power plant

15 February 2019, Published under Cement News

Ashaka Cement Co is set to inaugurate a 16MW power plant project in Nigeria. Managing Director of Ashaka Cement, Rabiu Abdullah Umar, said the power plant costs US$30.5m. "We are helping to remove ourselves from the demand for energy, and providing our own solution, which means a minimum of 16MW of electricity, will now become available to the public grid for the people in the region to enjoy...