Cement News tagged: Corporate

Maple Leaf Cement begins Line 4 production

09 November 2022, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) has informed Pakistan Stock Exchange (PSX) that an additional dry process clinker production line of 7000tpd grey clinker, a brownfield expansion at the company’s existing site in Iskanderabad , Punjab, successfully started production on 3 November 2022, according to a bourse filing of Company Secretary Muhammad Ashraf.  MLCF had signed a contract wit...

CIC-Market Solutions revises up Heidelberg Materials

09 November 2022, Published under Cement News

CIC-Market Solutions has softened its negative scenario post 2022 for Heidelberg Materials . It has raised its 2023 EBITDA projection to EUR3537m (down EUR128m versus 2022E), versus a previous estimate of EUR3439m. This is despite the prospect of falling demand in 2023 in the main European countries (-3 to -10 per cent compared to 2022).   CIC-Market Solutions advises that the change in i...

Vicat posts 16% increase in 9M consolidated revenue

08 November 2022, Published under Cement News

Vicat posted a 15.7 per cent YoY increase to EUR2697m (US$2691m) in consolidated revenue at constant scope and exchange rates in the January-September 2022 period. On a reported basis, the increase was 14.6 per cent YoY. The variation takes into account a negative foreign exchange effect of more than EUR9m as the euro appreciated against the lira and the Egyptian pound. The scope of the resu...

Umm Al Qura Cement sees net profit slide 54% YoY in 9M22

08 November 2022, Published under Cement News

Saudi Arabia’s Umm Al Qura Cement Company has reported a 15.13 per cent drop in revenue to SAR179.29m (US$47.8m) in the first nine months of 2022. This compares to SAR211.25m in the same period a year earlier, according to Zawya. Net profit after Zakat and tax over the same period fell from SAR61.92m to SAR28.44m marking a contraction of 54.06 per cent. In the third quarter of 2022, revenu...

INSEE Cement extends biodiversity MoU with IUCN

INSEE Cement extends biodiversity MoU with IUCN

08 November 2022, Published under Cement News

Sri Lanka’s largest cement producer, INSEE Cement , has entered into a Memorandum of Understanding (MoU) with the International Union for Conservation of Nature and Natural Resources (IUCN), according to The Colombo Post. The agreement will extend their long-standing partnership to continue INSEE’s  biodiversity projects for a further three years, from 2022 to 2025. The MoU was signed by Nand...

The India Cements Ltd sees 8% advance in revenue

08 November 2022, Published under Cement News

The India Cements Ltd has reported consolidated revenue from operations of INR13,270m (US$161.5m) in the quarter ended 30 September 2022, compared to INR12,340m in the same period a year earlier, an increase of 7.5 per cent YoY. Profit over the same period fell from a gain of INR320m to a loss of INR1210m, reports Dow Jones Newswires. Basic earnings per share came in at -INR3.62 versus INR0....

Carbon Re raises GBP4.2m seed funding to address cement industry carbon emissions

Carbon Re raises GBP4.2m seed funding to address cement industry carbon emissions

08 November 2022, Published under Cement News

Carbon Re, the Cambridge University and UCL joint spin-out, will accelerate the roll-out of artificial intelligence (AI)-based industrial decarbonisation technology. The company has raised GBP4.2m (US$4.8m) seed funding to scale up the development and deployment of its Delta Zero AI platform, which enables the cement industry to reduce over 50,000tpa of CO 2 emissions per plant. This is the...

Adbri CFO resigns

08 November 2022, Published under Cement News

Theresa Mlikota has resigned as chief financial officer of Adbri . Ms Mlikota, who has been with the company since 2019, will remain in the role until 11 November 2022. “On behalf of the board, I would like to thank Theresa for her service and the contribution she has made during her time at Adbri. We wish her the very best for the future,” said Raymond Barro, chairman of Adbri. Peter Barke...

Cecon starts trials at new Concepcion plant

11 November 2022, Published under Cement News

Cartes Group-owned Cementos Concepción (Cecon) began trials at its new cement plant in Concepción, Paraguay. It is expected that the trial period will last 2-3 months before actual cement production starts, according to Jorge Méndez, Cecon’s manager. Mr Méndez described the event as "a historic day for the production of 100 per cent Paraguayan cement". "It is a historic day for the Departm...

Summit Materials net revenue rises to US$686m in 3Q22

10 November 2022, Published under Cement News

Summit Materials ' reported net revenue rose by US$23.8m to US$686m in the 3Q22, up 3.6 per cent on the 3Q21. Adjusted EBITDA declined US$5.4m to US$184.9m over the same period, reflecting the impact of divestitures and inflationary cost of revenue conditions.   The company saw 3Q22 cement net revenues of US$119.9m, an increase of 29.6 per cent compared to 3Q21. Sales volumes of cement r...

Lucky Cement's green energy uses will increase in FY23  

07 November 2022, Published under Cement News

AKD Research has termed Lucky Cement Pakistan’s largest cement conglomerate. The year 2023 will be a new milestone year for Lucky Cement with its expanded capacity and adherence to ESG compliance . The company will continue to dominate the market share. With the completion of the 3.15Mta expansion at its Pezu plant in December 2022, the company's total cement capacity would increase ...

Adani Enterprises posts three-fold rise in revenue

07 November 2022, Published under Cement News

Adani Enterprises Ltd has posted a three-fold rise in revenue in the second quarter of FY22-23. Revenue for the three-month period came in at INR387,150m (US$4694m), compared to INR132,180m in the 2QFY21-22. EBITDA over the same timeframe advanced by 69 per cent to INR21,360m, while profit after tax improved by 117 per cent to INR4610m, reports The Times of India.  Led by Asia’s richest pe...

Fuel and power costs hit profits at JK Lakshmi Cement

07 November 2022, Published under Cement News

India-based JK Lakshmi Cement Ltd has reported consolidated revenue from operations of INR13,735m (US$166.9m) in the quarter ended 30 September 2022. This compares to INR16,541m in the previous quarter and INR12,088m in the same quarter a year earlier. EBITDA in the September 2022 quarter came in at INR1835m, versus INR2637m in the previous quarter and INR2116m in the same quarter in 2021...

Heidelberg Materials grows revenue 13% in 9M22

04 November 2022, Published under Cement News

Heidelberg Materials ’ revenue in the first 9M22 rose significantly by 12.9 per cent in comparison with the previous year to EUR15,802m (9M21: EUR13,996m). Excluding consolidation and exchange rate effects, the rise amounted to 12.3 per cent. In particular, price increases in all group areas contributed to the revenue growth. Changes to the scope of consolidation of EUR622m had a negative ef...

Cementir Group reports revenue of EUR1248m in 9M22

04 November 2022, Published under Cement News

Cementir’s Group revenue from sales and services in the 9M22 reached EUR1248.2m, up 23.8 per ent compared to EUR1008.3m in 9M21. The increase in revenue is mainly due to price increases, offsetting higher costs for fuel, electricity, raw materials, transport and services, said Cementir.   During the first nine months of 2022, Cementir announced its cement and clinker sales volumes, amoun...

Dalmia Bharat Ltd reports 77% fall in consolidated net profits in Jul-Sep quarter

04 November 2022, Published under Cement News

Dalmia Bharat Ltd has   reported a 76.84 per cent decline in consolidated net profit at INR470m (US$5.68m) for the quarter ended September. The company had posted a net profit of INR2030m during the July-September quarter a year ago, Dalmia Bharat said in a regulatory filing. Its revenue from operations increased 15.11 per cent to INR29,710m in the second quarter of the current fiscal. In...