Cement News tagged: Corporate
Anhui Conch sees revenue fall 30% in 3Q22
Anhui Conch has reported revenue of CNY29,052m (US$4006m) in the third quarter of 2022, down 29.6 per cent on the same period a year earlier, after adjustment. Net profit attributable to equity shareholders over the same period declined by 65.3 per cent to CNY2578m. This has been attributed to rising energy costs, particularly coal prices, and a decline in the sales price of the group’s prod...
CEMEX's net sales grow 13% in 3Q22
CEMEX announced continued solid top line growth in the 3Q22. Net sales grew by 13 per cent to US$3,956m while net income of reached US$494m. Pricing was the main driver with cement, ready-mix and aggregates, increasing by double digits. “Our pricing achievements this year have allowed us to more than offset inflationary costs in dollar terms, but stubbornly high inflation and supply chai...
BUA Cement 's revenue rises by 41% in 9M22
BUA Cement ’s revenue in 9M22 increased by 40.5 per cent to NGN262.6bn (US$5.99m) from NGN186.9bn as at 9M21. Operating profit increases by 31.1 per cent to NGN99.2bn from NGN75.7bn as at 9M21. Profit before tax increased by 19.5 per cent to NGN88.8bn from NGN74.3bn as at 9M21.
Dandot Cement Co expects to complete BMR in 3QFY23
Dandot Cement Co Ltd Company Secretary, Muhammad Kamran, recently released a progress report on the Pakistan Stock Exchange (PSX) of Balancing Modernisation of Replacements (BMR) of 504,000t of cement plant at Jehlum in Punjab, Pakistan. Cement production has remained suspended due to the closure of plant operations for BMR activity since September 2019. The total cost of BMR is PKR5.8bn (U...
Arabian Cement revenue up 8% in 3Q22
Arabian Cement has recorded an eight per cent increase in revenue to SAR241m (US$64.2m) in the third quarter of 2022, compared to the same period a year earlier. Profit over the same timeframe has advanced by 57 per cent to SAR59m. Results for the opening nine months of 2022 show a six per cent YoY uptick in profit, despite sales declining by six per cent. Profits for the nine-month peri...
Eagle Materials posts 19% rise in revenue in 2QFY23
Eagle Materials has posted a 19 per cent YoY increase in revenue to a record US$605m in the second quarter of fiscal year 2023 ended 30 September. Record net earnings of US$139m were also seen over the same period, up 36 per cent YoY. Adjusted EBITDA advanced 21 per cent to US$227m. Commenting on the results, Michael Haack, president and CEO of Eagle Materials, said, “At this unique time...
Heidelberg Materials signs global licence agreement with Leilac
Heidelberg Materials has signed an indefinite global licence agreement with the technology company Leilac, enabling the future scale-up of the joint carbon capture, utilisation and storage (CCUS) activities. The agreement sets out the terms of use for the company’s carbon capture technology in Heidelberg Material’s operations. Leilac provides a highly efficient, low-cost capture solution f...
TITAN raises targets to limit global warming
TITAN Group has not only reported robust decarbonisation results, it has also strengthened its commitment to net zero and updated its science-based CO 2 targets to levels aligned with limiting the global temperature increase to 1.5°C. According to the company, its new targets have been submitted to the Science Based Targets initiative (SBTi) for validation. In the third quarter of 2022, ...
Fauji Cement commissions Nizampur Line 3
Fauji Cement Co Ltd (FCCL) informed the Pakistan Stock Exchange that on 27 October it successfully commissioned the third production line at its existing plant in Kahi Village, Nizampur, Khyber Pakthunkhwa. The new line has a clinker production capacity of 6500tpd. The project will bring the total cement production capacity of FCCL to more than 8.4Mta, according to Company Secretary, Brig A...
Cementos Molins' revenue up 37% YoY in 9M22
Cementos Molins has reported revenue of EUR959m in the opening nine months of 2022, up 37 per cent on the same period a year earlier. According to the company, the increase is attributed to higher sales across all businesses and the significant contribution from acquisitions completed in 2021. On a like-for-like basis, revenue advanced by 14 per cent. EBITDA over the same period improved...
Lucky Cement reports Pezu expansion on track
Lucky Cement Ltd announced that the company’s 3.15Mt brownfield cement expansion at Pezu remains on track to be commissioning by December 2022. A 34MW solar power project is set to be commissioned at the site in the 2Q22-23. The company has also planned a 25.3MW solar power project it its Karachi plant, where it awaits permission from the State Bank of Pakistan to establish a letter of cre...
Siam Cement sees sales advance 8% in 3Q22
Thailand-based Siam Cement Group (SCG) has reported sales of THB142,391m (US$3774m) in the third quarter of 2022, up eight per cent from THB131,825m in the same period a year earlier. According to the company, the increase has been driven by higher product prices. Net income over the same timeframe fell from THB6817m to THB2443m, while basic earnings per share from continuing operations decl...
Yanbu Cement posts 4% rise in profit in 9M22
Saudi Arabia-based Yanbu Cement Co has announced net profit after zakat and tax of SAR156.24m (US$41.6m) in the opening nine months of 2022, up 4.38 per cent on the SAR149.69m seen in the same period a year earlier. Revenue over the same timeframe slipped 0.13 per cent YoY from SAR742.87m to SAR741.9m. In the third quarter of 2022, revenue advanced by 26.14 per cent YoY from SAR207.78m to S...
Taiheiyo Cement to acquire Denka cement business
Taiheiyo Cement Corp is reportedly acquiring the cement business of Denka Co Ltd in March 2023. Denka has decided to exit the cement sector due to rising production costs. The company operates one integrated cement plant with 2.69Mta of cement capacity in Omi , Niigata, Japan. According to research company Nomura, Denka currently has a thee per cent share of the Japanese cement market,...
Al Jouf posts 74% fall in profit in 9M22
Saudi Arabia's Al Jouf Cement Company has reported a 35.1 per cent YoY increase in revenue in the third quarter of 2022. Revenue advanced from SAR54.9m in the 3Q21 to SAR74.1m in the same period this year. Compared to the 2Q22 revenue has improved by 49.84 per cent from SAR49.5m. Net profit after Zakat and tax in the 3Q22 came in at SAR5.94m, up 43.5 per cent YoY. According to the company th...
Wagners forecasts revenue of AUD220m in 1HFY22
Australia-based Wagners Holding Company Ltd has issued a market update for the six-month period to 31 December 2022 (1HFY23). According to the company, the update is based on current assumptions and estimates and is subject to the market conditions not materially changing. Revenue for the period is forecast to reach AUD220m (US$142.2m), up AUD49m compared to the AUD171m seen in the 1HFY22...