Cement News tagged: Corporate

Qassim Cement sees 2Q profit rise

05 August 2019, Published under Cement News

Saudi cement producer Qassim Cement reported a net profit after zakat and tax of SAR70.5m (US$18.8m), a 383 per cent increase YoY, when net profit reached SAR18.4m, according to Reuters. Second-quarter sales surged from SAR88.1m in the 2Q18 to SAR154.5m in the 2Q19. The rise in sales was driven by an increase in average selling prices.

Titan Group's 1H19 results bolstered by USA

02 August 2019, Published under Cement News

Titan Group recorded a turnover of EUR785.4m in 1H19, up 10.2 per cent on 1H18. This was attributed to a strong performance in the US market and growth in cement demand in southern Europe, along with a return to modest sales in Greece. EDITDA remained flat at EUR122.2m following challenging conditions in Egypt and Turkey, while group net profit after minority interests and taxes amounted to E...

Vicat sees poorer results in Turkey and Switzerland

02 August 2019, Published under Cement News

Vica­­­t's first-half turnover advanced by 4.6 per cent to EUR1340m but eased by 0.6 per cent on a comparative basis. EBITDA improved by 1.7 per cent to EUR228 while the margin eased from 17.5 per cent to 17 per cent. The trading profit declined by 9.4 per cent to EUR97m, while the net interest charge was EUR6m higher at EUR22m, giving an attributable profit 20.7 per cent lower at EUR46m. C...

CRH to divest European Distribution business to Blackstone

02 August 2019, Published under Cement News

CRH plc has agreed to divest its European Distribution business to private equity funds managed by Blackstone for EUR1.64bn, subject to regulatory approval. The sale includes CRH's entire General Builders Merchant business in Europe, including its sanitary heating and plumbing business. It supplies building materials to professional builders, specialists contractors and DIY customers through ...

Dalmia Bharat reports 192% increase in net profit

Dalmia Bharat reports 192% increase in net profit

02 August 2019, Published under Cement News

India’s Dalmia Bharat Ltd has reported a 192.3 per cent YoY increase in consolidated net profit for the quarter ending 30 June, rising to INR1.52bn (US$21.82m) from INR520m. EBITDA was up 27.3 per cent to INR6.66bn from INR5.23bn. Total revenue advanced 7.1 per cent to INR25.81bn, compared with INR24.11bn in the 1QFY18-19. Cement sales volumes were fairly consistent with the year-ago period ...

Saudi Cement producers profits recover in 2Q19

02 August 2019, Published under Cement News

Saudi Cement posted net income of SAR92.3m (US$24.613m) in 2Q19 and profits were up 59 per cent in the period compared to 2Q18, but declined  by 30.3 per cent compared to 1Q19. The company recorded cement sales of SAR338.6m and received average prices of SAR217.6/t. "The YoY increase is mainly attributed to improved selling price and volumetric sales, despite an increase in administrative e...

Gulf Cement Co posts net loss in 2Q19

Gulf Cement Co posts net loss in 2Q19

02 August 2019, Published under Cement News

UAE-based Gulf Cement Co has posted an AED598,270 (US$162,905) net loss in the 2Q19, compared to an AED8.4m profit in the year-ago period. Sales costs increased to AED107m from AED101m. In the first half of 2019, profit saw a considerable decline of 84 per cent YoY to AED856,500. The company attributed the fall to a two per cent decrease in revenue and a 25 per cent rise in general, administ...

Holcim Philippines sees 28% fall in sales for 2Q19

01 August 2019, Published under Cement News

Holcim Philippines has reported a 17 per cent YoY fall in net attributable profit to PHP716.15m (US$13.98m) for the 2Q19, while sales dropped 28 per cent to PHP7.28bn. In the first half of 2019, attributable profit declined nine per cent to PHP1.42bn and sales decreased 18 per cent to PHP15.38bn. However, EBITDA advanced 9.5 per cent to PHP3bn. "We continued to deliver value to our custom...

Wonder Cement completes third line at Nimbahera

01 August 2019, Published under Cement News

India’s Wonder Cement (RK Group) has launched the third line of its facility in Nimbahera, Chittorgarh, taking total capacity to 11Mta. The new capacity was built in one year at an investment of INR11bn (US$159.29m), taking the total cost of the three units to INR41bn. "This increases our overall capacity to 11Mta, which places us well on track to meet the burgeoning demand in the premium se...

Lafargeholcim Bangladesh reports 46% net profit surge

01 August 2019, Published under Cement News

LafargeHolcim Bangladesh has announced a 46 per cent YoY increase in net profit for the second quarter of 2019, according to a recent statement. The company also saw a 15.4 per cent rise in revenue to BDT4.5bn (US$52.9m) for the 2Q19, compared to BDT3.9bn of the year-ago period. "The 2Q19 results demonstrate the strong performance trend which continues from 2018. Our focus on raising profit...

SCG reports falling revenue in Vietnam

01 August 2019, Published under Cement News

Thailand’s Siam Cement Group (SCG) has seen a seven per cent YoY drop in its revenue from sales in Vietnam to VND7.9trn (US$339m) in the 2Q19, according to Vietnam News. Revenue from sales in Vietnam finished at VND14.6trn in the 1H19, consistent with the year-ago period, and accounted for nine per cent of the group’s total revenue. Currently, the company’s assets in Vietnam are valued at V...

LafargeHolcim doubles net income and reports 4% net sales growth

02 August 2019, Published under Cement News

LafargeHolcim posted a like-for-like (LfL) net sales growth of 3.5 per cent YoY in the first half of 2019. Sales increased from CHF13.272bn (US$13.4bn) in the 1H18 to CHF13.059bn with gains in all regions but particularly thanks to favourable market conditions in Europe and north America. Recurring EBITDA (pre-IFRS16) increased 10.8 per cent to CHF2.662bn from CHF2.484bn in the previous year...

Eagle Materials notes record cement sales in 1Q

31 July 2019, Published under Cement News

US-based Eagle Materials Inc has reported a six per cent YoY fall in revenue to US$370.5m for the quarter ending 30 June 2019.  However, revenue in the Heavy Materials (cement, concrete and aggregates) segment saw a three per cent improvement to US$234.7m. Operating earnings decreased five per cent to US$40.6m, which has been attributed to increased fixed and freight costs alongside poor wea...

Yamama Cement reports 47% net profit increase in 2Q19

31 July 2019, Published under Cement News

Saudi Arabia’s Yamama Cement has recorded a 46.6 per cent YoY increase in net profit for the second quarter of 2019, rising to SAR53.2m (US$14.19m) from SAR36.3m. The company’s sales saw a similarly positive result, advancing 47.6 per cent to SAR165.3m against SAR112m of the 2Q18.

Dangote Cement's group revenues slip 3% in 1H19

01 August 2019, Published under Cement News

Dangote Cement Plc announced its unaudited results for 1H19 with group revenue reaching NGN467.7bn (US$1.291bn), down three per cent, and group EBITDA at NGN217.9bn, down 11.4 per cent. Nigerian EBITDA for Dangote Cement fell 11.6 per cent to NGN200.6bn and pan-African EBITDA slipped to NGN23.9bn, down 7.5 per cent. Net debt stood at NGN318.6bn. Group cement sales totalled 12.28Mt in 1H19,...

Kesoram Industries plans geographical expansion

31 July 2019, Published under Cement News

India’s Kesoram Industries (Birla Group) has announced that it will look to increase the geographical spread of its cement business across India. Currently, the company has 7.5Mta of capacity focussed in the southern region. "We shall now explore high-margin markets in the country to improve bottom-line. Now, we are in south and a small part of west, we shall spread further," said P Radhakris...