Cement News tagged: Corporate

Najran Cement posts 1H results

28 July 2020, Published under Cement News

Saudi Arabia-based Najran Cement reported sales of SAR121.5m (US$32.4m) in the second quarter of 2020. The company’s gross profit reached SAR50.3m while its operational profit stood at SAR40.4m. Net profit after zakat and tax was SAR33m. For the first half of 2020 the company posted sales of SAR277.8m and a gross profit of SAR106.8m. Operational profit reached SAR86.5m while net profit after...

Dangote's 1H20 results see 2% revenue growth

27 July 2020, Published under Cement News

Dangote Cement reported group revenue up two per cent to NGN476.9bn (US$1.23bn) in the 1H20. Group EBITDA rose to NGN218.1bn and pan-African EBITDA increased by 31.6 per cent to NGN31.5bn. Profit before tax was up 4.7 per cent to NGN162.9bn and net debt stood at NGN372.1bn at the end of 30 June 2020. Michel Puchercos, Group CEO, said:  "I am humbled by the fact that we continue to be in a str...

Ciments de Bizerte sees 1H turnover up 2%

30 July 2020, Published under Cement News

Tunisian cement producer Ciments de Bizerte has seen its total turnover expand 1.6 per cent YoY to TND42.781m (US$15.6m) in the first half of 2020. Domestic turnover edged up 0.2 per cent YoY to TND40.112m while export turnover improved 26.8 per cent YoY to TND2.669m. In addition, clinker production increased 17.2 per cent to 282,440t in the 1H20 despite the total suspension of production f...

FLSmidth's 2Q20 preliminary report sees 29% decline in order intakes

27 July 2020, Published under Cement News

FLSmidth released its preliminary 2Q20 report ahead of the full interim 2Q20 results due to the volatility in order intake and revenue combined with the suspension of guidance caused by COVID-19. Across all regions, the mining industry and especially the cement industry have been negatively affected by the pandemic. In the 2Q20, organic order intake declined 29 per cent and organic revenue dr...

Arabian Cement sees 80% fall in 2Q net profit

Arabian Cement sees 80% fall in 2Q net profit

27 July 2020, Published under Cement News

Arabian Cement Co reported a net profit of SAR7.6 (US$2) m in the 2Q20, down 79.6 per cent YoY. In the 2Q19 net profit reached SAR37.3m. Revenue declined by 15.2 per cent YoY to SAR139.6m in the 2Q20 from SAR164.6m in the equivalent period of the previous year. The company attributes the fall in net profits to a decrease in sales values and volumes at its subsidiary in Jordan, which was af...

Hope plant's economic contribution to local economy assessed

24 July 2020, Published under Cement News

Breedon Group has had an assessment of the Hope Cement plant's economic contribution to the local economy. An independent report by global management, engineering and development consultancy Mott Macdonald says Breedon Group shows a 51 per cent increase in its contribution to GBP61m from GBP53m in 2017. The report aimed to show how much the Hope Cement works contributes both financially and i...

Carthage Cement posts 16% drop in 1H revenues

Carthage Cement posts 16% drop in 1H revenues

24 July 2020, Published under Cement News

Tunisia-based Carthage Cement has seen its revenues fall 16 per cent to TND102m (US$37m) in the 1H20 due to the stoppage of its operations between 28 March and 28 April 2020. Exports by the company dropped 92 per cent from TND12.4m in the 1H19 to TND1m in the first six months of 2020. However, exports to Italy restarted in June. Domestic sales slipped by one per cent YoY despite the stop in ...

Holcim Philippines expected to remain within group

23 July 2020, Published under Cement News

Following the lapse of sale agreement with San Miguel Corp earlier this year, Holcim Philippines is now expected to remain within LafargeHolcim, according to the company's CEO, John Stull, in an annual meeting on Wednesday. "We are very pleased to know that we are no longer in the sales process and we're very excited about the future working with one of the largest and most successful compani...

LafargeHolcim Bangladesh reports 6% increase in PAT

13 August 2020, Published under Cement News

LafargeHolcim Bangladesh has seen its profit after tax advance 6.2 per cent to BDT843m (US$9.94m) in the first half of 2020, against BDT794m last year. The company has noted the remarkable nature of the results, considering the impact of the COVID-19 pandemic. In the second quarter the cement producer saw revenue drop 41.3 per cent from BDT4.498bn in 2Q19 to BDT2.641bn in the 2Q20. Operating...

Dangote Cameroon appoints new MD

23 July 2020, Published under Cement News

Dangote Cement Cameroon appointed Bertrand Thaïs Mbouck as new managing director, succeeding Abdullahi Baba. In addition to postings within the group, Mr Mbouck has also served as investment adviser at Cemac since January 2018 and held posts at Senegal-based SUWA between 2012-15.

Qatar National Cement reports 32% fall in profit

23 July 2020, Published under Cement News

Qatar National Cement has reported a 31.8 per cent YoY decline in net profit to QAR68.3m (US$18.76m) for the first half of 2020, compared to QAR100.1m in the year-ago period. The company also saw revenue fall 23 per cent YoY to QAR290.6m from QAR377.3m.

Summit Materials announces 2Q results and new CEO

23 July 2020, Published under Cement News

US-based Summit Materials saw a 24.5 per cent rise in operating income for the second quarter of 2020 to US$100.1m from US$80.4m in the year-ago period. Adjusted EBITDA also advanced 14.1 per cent YoY to US$160.2m from US$140.5m. Cement sales volumes declined 6.3 per cent YoY in the 2Q20, while prices were up 1.2 per cent. "Despite economic uncertainty, Summit experienced resilient demand ...

Twiga sees 33% rise in net profit for 1H20

23 July 2020, Published under Cement News

Tanzania Portland Cement (Twiga) has reported a 33 per cent YoY increase in net profit to TZS34.94bn (US$15.05m) in the first half of 2020, against TZS26.19bn in the 1H19. "Despite strong competition in the cement manufacturing industry and uncertainties brought about by COVID-19, [we] delivered a strong operational result compared to [last year]," said Hakan Gurdal, chairman. The company a...

Taiwan Cement and Oyak fined for JV notification failure

22 July 2020, Published under Cement News

China's State Administration for Market Regulation (SAMR) has fined Taiwan Cement and Ordu Yardimlasma Kurumo (Oyak) for failure to notify the establishment of their joint venture, Dutch Oyak TCC Holdings BV, in 2018. SAMR considered the transaction to be notifiable in China, as Taiwan Cement and Oyak both had control over the joint venture and it met the turnover threshold, reports Lexology....

SCAEK completes first stage API certification

22 July 2020, Published under Cement News

Algeria-based Société des Ciments de Ain El Kebira (SCAEK) has succesfully completed the first phase of the American Petroleum Institute audit to certify petroleum cement as a new product manufactured by the cement producer. The first step was originally planned for last March but was then postponed to July 2020 due to the coronavirus pandemic. The company was awarded the API label in July 201...

ACC reports 40% fall in net profit

13 August 2020, Published under Cement News

India’s ACC (LafargeHolcim) has reported a 40 per cent YoY decline in consolidated net profit to INR2.71bn (US$36.2m) in the first quarter of FY20-21, compared to INR4.55bn in the year-ago period. Total sales also fell 38 per cent YoY to INR25.2bn from INR40.59bn in the 1QFY19-20. Standalone revenue was down 37.3 per cent YoY in the June 2020 quarter, decreasing to INR26bn from INR41.49bn la...