Cement News tagged: Corporate
EBRD mulls loan to Lafarge Serbia
The European Bank for Reconstruction and Development (EBRD) said on Friday it is considering providing EUR58m (US$75m) in financing to Serbian cement producer Lafarge Beocinska Fabrika Cementa to support its capital expenditure programme. The programme includes the development of a number of energy efficiency investments, further modernisation of production facilities, environmental enhanceme...
Yen Bai Cement nine month loss, Vietnam
Yen Bai Cement and Minerals JSC said it made a loss of VND15.44bn (US$742,300) in the first nine months of this year, compared to a loss of VND8.63bn in the same period of last year. Revenues rose 3.07 per cent on year to VND246.45bn in Jan-Sept, YBC said in its quarterly financial report. In 3Q, YBC suffered a loss of VND1.85bn on revenues of VND84.66bn, versus VND5.94bn and VND84.36bn in t...
Huaxin Cement to see restricted shares become tradable
China-based cement producer Huaxin Cement Co Ltd said on 8 November that 77.01 million of its restricted shares will become tradable on the market on November 14th.
Lafarge 9M12 sales increase, reduces Western Europe outlook
Lafarge reported a sales rise for the third quarter and year-to-date, driven by successful price increases across product lines and by growth in many emerging markets. The company has maintained its outlook for full-year market growth but lowered its outlook for Western Europe. In the third quarter alone, consolidated sales were up four per cent to €4393m while EBITDA rose six per cent to €10...
Cemex: US far from fully recovering
Cemex has said that it is pleased with the way its US business is progressing but that it is still far from fully recovering. Speaking to Reuters, Maher Al-Haffar, Cemex's vice president of corporate communications and investor relations, said in an interview, said: "We are cautious and we are far from a full recovery in the US business but the trend is certainly in the right direction." I...
Buzzi Unicem's turnover edges ahead and profit advances
Buzzi Unicem's turnover for the first nine months was up by 1.7 per cent to €2,146.3m and the EBITDA increased by 11.7 per cent to €368.7m. The trading profit rose by 29.6 per cent to €198.9m and net financial charges increased by 25.1 per cent to €85.3m. After an 89.3 per cent higher contribution from associates, the pre-tax profit rose by 33.5 per cent to €116.8m. With charges for tax and f...
Cementos Portland posts EUR83m loss for Jan-Sep 2012
Cementos Portland of Spain has posted a loss of EUR83m for the first nine months of 2012, almost 10-times the loss posted in the same period of last year, local press have reported. The steep decline is attributed to weaker demand from its domestic market of Spain which could not be offset by activity in USA and Tunisia where the company also operates..
Deutsche Bank sees modest China earnings recovery in 2013
Deutsche Bank has turned more positive on China's average selling pricing recovery in the next 12 months. For 2013, it expects a revival of property starts and captive supply to further support production halts and thus more stable prices. "While we are more cautious in the medium term due to structural overcapacity and declining cement intensity, we see modest earnings recovery in 2013."...
SCG's cement division posts 29% revenue rise in 3Q12, Thailand
Siam Cement Group's cement business posted a 29 per cent increase in revenue to THB17.7bn (US$577.6m) in the third quarter of 2012, attributable to a higher domestic sales volume as well as consolidation of the recently acquired ready-mixed concrete business in Indonesia. The cement business also saw a 33 per cent rise in net profit to THB2.45bn. Building materials witnessed 18 per cent grow...
Serbian Holcim appoints new CEO
Holcim Serbia has appointed Romanian national Claudiu Soare as its new CEO, Holcim said in a statement. Soare takes over the position from Gustavo Navarro. Soare has been a member at Holcim Romania team since 2000 and afterwards appointed as a project manager at Holcim Services Europe, the Middle East and Asia in Madrid, Holcim said.
Saudi Cement elects board of directors
Saudi Cement Company has elected a board of directors with a three-year term ending December 2015, the Saudi Arabian cement producer said in a bourse filing. The newly appointed board members are Hamad al-Olyan, Khaled al-Rajhi, Khaled Abdul Kareem, Sami al-Juffali, Abdul Kareem al-Khoraiji, Abdul Rahman al-Sohaibani, Abdul Rahman al-Rajhi, Fahad al-Saleh, Mohammed al-Qarni, Mohammed Bilghan...
HeidelbergCement increases revenue and operating income
German cement major HeidelbergCement has reported increases revenue and operating income in for the third quarter 2012 driven by cost savings and price increases and announced significant reduction in net debt. Group revenue in the 3Q12 rose by 8.9 per cent to €3944m, driven by increasing prices, and a favourable development of exchange rates. Positive exchange rate effects supported the de...
Italcementi 9M12 sales hit by Western Europe, competition in Africa
Leading Italian cement producer Italcementi posted a significant drop in nine month net profit as sales were hit by its Western European markets and higher competition in Africa. Nine month net profit totalled EUR17.1m compared to EUR105m for the nine months to September 2011. After minorities, the company posted a loss of EUR39.7m. Revenues fell 4.4 per cent to EUR3.396bn. Recurring EBIT...
Cementir's ready-mixed concrete volumes weaken
Cementir's turnover for the first nine months of the year was up by 4.9 per cent to €730.9m. EBITDA, which weakened by 11.9 per cent in the third quarter, was ahead by a modest 3.5 per cent to €94.9m. This reflected higher energy costs, particularly in the case of electricity, and increased staffing levels was a result of the expansion into waste management. The trading profit advanced by 4.7 ...
Dangote Cement sees 22% rise in 2012 pretax profit, Nigeria
Nigeria-based cement producer Dangote Cement said it expects pretax profit to reach NGN143bn (US$910m) for full year 2012 on strong demand, a rise of 22 per cent compared to the NGN118bn achieved last year. The company said forecasts were based on the 2.6Mt of cement it sold in the last quarter of the year and on improved gas supply. The company will spend around NGN110bn in capital expend...
RHI increases earnings again in the third quarter of 2012
Revenues of refractories specialist RHI Group increased by 7% in the third quarter of 2012 in comparison to the same quarter of 2011 and amounted to €459.9m. While revenues in the Steel Division dropped by 3.7% in a market environment still characterized by uncertainty, the Industrial Division recorded growth of 25.8% as some major projects were delivered. The operating result of the third q...