Cement News tagged: Corporate

Eagle Materials reports record revenue in 3QFY23-24

02 February 2024, Published under Cement News

US-based  Eagle Materials has reported record revenue of US$558.8m in the third quarter of FY23-24 (3QFY24), ended 31 December 2023, marking a nine per cent increase YoY. The results come despite “a backdrop of shifting, albeit constructive, market conditions as interest rates moved materially lower during the latter half of the quarter,” said Michael Haack, president, Eagle Materials. Adjust...

Nuvoco sees 55% increase in 3Q EBITDA

01 February 2024, Published under Cement News

Nuvoco Vistas Corp saw consolidated cement sales volume fall by 10 per cent YoY to 4Mt in the 3QFY23-24 (October-December 2023). The company also reported a seven per cent drop in revenue to INR24.21bn (US$291.6m). However, EBITDA expanded by 55 per cent YoY in the 3QFY23-24 to INR4.21bn, supported by improved price realisations and a decline in power and fuel costs. EBITDA/t of INR1048 wa...

Shree Cements reports jump in profit

01 February 2024, Published under Cement News

Shree Cement has reported total income of INR53,706.5m (US$646.85m) in the quarter ended 31 December 2023. This compares to INR49,321.1m in the previous quarter and INR44,733.8m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR155,366.6m, up from the INR130,655m seen in the same period a year earlier.  Profit after tax in the De...

Hoffmann Green agreement targets private individuals

01 February 2024, Published under Cement News

Hoffmann Green Cement Technologies has signed a strategic partnership to sell its clinker-free low-carbon cements through the retail network of Bricomarché, Bricorama, Brico Cash and Tridôme (part of Les Mousquetaires Group). Through this agreement, the four DIY chains of the Les Mousquetaires group, Bricomarché, Bricorama Brico Cash and Tridôme, are pursuing their commitment to a global and...

Holcim New Zealand appoint new EGM

Holcim New Zealand appoint new EGM

01 February 2024, Published under Cement News

Michael Miller has been appointed Executive General Manager (EGM) for Holcim New Zealand. He has extensive management experience across a range of disciplines including sales and marketing, procurement, operations and logistics. From January 2024, Michael leads Holcim ’s team in Aotearoa New Zealand. He will continue to advance Holcim New Zealand’s role as a leading supplier of cement, agg...

Ambuja Cements reports jump in profits YoY

31 January 2024, Published under Cement News

Ambuja Cements Ltd has reported total income of INR45,477.3m (US$547.7m) in the three months ended 31 December 2023, up from INR42,043.7m in the same period a year earlier. Profit after tax came in at INR5136.8m in the December 2023 quarter, versus INR3689.9m in the comparable period in 2022. Total expenses over the same period expanded from INR36,793.2m to INR38,673m, while basic earning...

FLSmidth reports 2023 cement revenues of DKK6bn

FLSmidth reports 2023 cement revenues of DKK6bn

31 January 2024, Published under Cement News

FLSmidth has released its 4Q23 and full-year 2023 preliminary and unaudited results. The cement business recorded revenues of DKK1.4bn (US$203.3m) in the 4Q23 and DKK6bn in 2023. EBITDA margin for the cement business grew by 7.4 per cent in the 4Q23 and by 6.7 per cent in 2023. The order intake for the 4Q23 in the cement business totalled DKK1bn and in 2023 it reached DKK4.9bn. In a stat...

UltraTech Cement commissions Rajpura plant

31 January 2024, Published under Cement News

UltraTech Cement ( Aditya Birla Group ) has announced the commissioning of a 2.6Mta greenfield grinding plant at Rajpura , Punjab, India. This project forms part of the 22.6Mta capacity expansion announced in June 2022. The additional capacity will help UltraTech service the markets in Punjab. With the plant’s commissioning, the company’s total grey cement manufacturing capacity in India n...

CNBM profit to fall 65% in 2023

02 February 2024, Published under Cement News

China National Building Materials (CNBM) has issued a profit warning for 2023, reports MarketScreener. According to the company, unaudited profit attributable to the equity holders of CNBM is forecast to decline by 65 per cent in 2023, compared to the previous year. The contraction is being attributed to a fall in the sales price of cement, commercial concrete and glass fibre, and lower ...

Heidelberg Materials launches evoBuild

31 January 2024, Published under Cement News

Heidelberg Materials has introduced a new global product brand, evoBuild, for low-carbon and circular products. evoBuild products are characterised by their clear sustainability credentials, and each product must meet strict requirements to become part of the range. As the first company in the heavy building materials industry, Heidelberg Materials is using globally standardised criteria to ...

FLSmidth looks at possible divestment options in Cement business

30 January 2024, Published under Cement News

FLSmidth will explore the available divestment options for its Cement business to maximise the division’s full potential and strengthen the market leading position of its Mining business. Over the past year, FLSmidth has simplified and rightsized the Cement business to further strengthen its market-leading position, improve profitability and make it fit-for-purpose with a strategic focus on ...

Eco Material Technologies enters ash agreement in Alabama

30 January 2024, Published under Cement News

Eco Material Technologies has announced it will be collaborating with Alabama Power, a subsidiary of Southern Company, to harvest millions of tonnes of stored ash from Plant Barry, a coal- and natural gas-fired electrical generation facility located in Bucks, Alabama, USA. According to Stock Titan, the ash will be used in concrete blends to repair and construct bridges, roads, and buildin...

Premier Cement Mills' profit balloons in 2QFY23-24

30 January 2024, Published under Cement News

Premier Cement Mills PLC , the second-largest cement maker in Bangladesh, uploaded its financial results on the Dhaka Stock Exchange (DSX) on 28 January. The company witnessed a surge in profit by nearly 30-fold in the October-December 2023 quarter on the back of higher sales. It earned a profit of BDT220m (US$1.99m) in the second quarter, which was BDT7.5m in the similar three-month period ...

Heidelberg Materials ends clinker production at Hanover

02 February 2024, Published under Cement News

Heidelberg Materials has announced that it is shutting down clinker production at its Hanover cement plant in the second half of 2024. Going forward, the company will instead focus its activities in Hanover on the end-product cement and will continue to operate the site as a grinding facility. The adjustment comes after a substantial decline in cement sales following weak construction ...

Holcim names Miljan Gutovic as new CEO

29 January 2024, Published under Cement News

Holcim ’s has appointed Miljan Gutovic as chief executive officer (CEO), effective from 1 May 2024. He will succeed the current CEO Jan Jenisch, who will focus on his role as chairman and will stand for re-election at the AGM in May. Mr Gutovic, an Australian national, has been a member of the group executive committee since 2018. He served as head of the region Middle East and Africa, fo...

Holcim to list North America business in the US

02 February 2024, Published under Cement News

Holcim has announced its intention to list its North American business in the US with a full capital market separation. According to the company, this process will create the leading pure-play building solutions company in the region. The newly-listed business will be committed to driving long-term growth in the rapidly expanding North American market and unlocking value for all its stakehol...