Cement News tagged: Corporate
Holcim Philippines resumes operations
Holcim Philippines Inc has restarted manufacturing and logistics operations with stronger health and safety controls at all its sites nationwide, after pausing cement production in compliance with government quarantine measures against COVID-19. The company started to reopen its plants and terminals in La Union, Bulacan, Manila, Batangas and Davao following the easing by national and local go...
Tokyo Cement Co (Lanka) Plc sees 23% fall in turnover in 4QFY20
Tokyo Cement Co (Lanka) PLC said the group recorded LKR8.4bn (US$45.1m) turnover for the 4QFY20, which represents a 23 per cent reduction when compared to 4QFY19. The company recorded LKR4.9bn turnover for the 4Q20, which is 36 per cent reduction when compared to 4QFY19. The company has ensured production, distribution, and sales of products and services across the island with limited stopp...
Dangote Cement sees 2% advance in 1Q EBITDA
Dangote Cement Plc reported a 3.8 per cent YoY increase in group revenue to NGN249.2bn (US$638.2m) for the first quarter of 2020 in its unaudited results for the three months ended 31 March 2020. Group EBITDA edged up 2.2 per cent to NGN114.2bn with an EBITDA margin of 45.8 per cent during this period. Pan-African EBITDA surged 23.4 per cent YoY to NGN14.6bn in the 1Q20, reflecting a 20.9 per ...
Birla Corp posts 52% rise in net profit
India’s Birla Corp has posted a 52 per cent YoY surge in net profit to INR1.95bn (US$25.76m) in the quarter ending 31 March 2020, while total income was down 9.4 per cent to INR17.18bn. Capacity utilisation during the 4QFY19-20 declined to 93 per cent from 98 per cent, on the back of a 13 per cent YoY drop in sales volumes to 3.3Mt. In the FY19-20 net profit advanced 98 per cent YoY to INR5...
Cemex amends consolidated financial leverage limits
As part of a strategy to respond to the effects of the coronavirus pandemic, Cemex has amended its main banking contract to modify the limits of its consolidated financial leverage. Its leverage limit will increase to 6.75x by June 2020 and to 7.00x from September 2020 to March 2021, before decreasing again at a later date. "At the end of the first quarter of 2020, Cemex reported a conso...
Al Jouf Cement sees 4% rise in revenue for 1Q20
Saudi Arabia’s Al Jouf Cement has seen a 3.5 per cent YoY increase in revenue to SAR58.8m (US$15.68m) in the first quarter of 2020, compared to SAR56.85m in the year-ago period. Net profit has also surged to SAR15.21m from SAR1.49m in the 1Q19.
Votorantim Cimentos sees net revenue up 9% in 1Q20
Votorantim Cimentos' financial statement for the period ended 31 March 2020 reported net revenue up nine per cent to BRL2747m (US$494.6m) from BRL2524m in the 1Q19, while adjusted EBITDA fell to BRL232m from BRL586m in the 1Q19. Group cement volumes declined slightly to 6.3Mt from 6.4Mt in the year-ago period. Net revenues in Brazil in 1Q20 rose to BRL1563m from BRL1536m in 1Q19. Positive ma...
CCI approves acquisition of Emami Cement
The Competition Commission of India has approved the 100 per cent acquisition of the total issued and paid-up share capital of Emami Cement Ltd by Nuvoco Vistas Corp. Emami had entered into an agreement for the divestment of its 100 per cent equity stake in Emami Cement for an enterprise value of INR55bn (US$724.83m) in February. The acquisition will bring Nuvoco's total cement capacity in...
Sumitomo Osaka Cement reports 40% increase in profit
Japan’s Sumitomo Osaka Cement has reported a 40 per cent YoY rise in net profit to JPY10.92bn (US$101.63m) for the fiscal year ending 31 March 2020, compared with JPY7.8bn in the FY18-19. Sales were down 2.4 per cent to JPY245.1bn from JPY251.06bn, but operating profit advanced 13.8 per cent YoY to JPY16.1bn in the FY19-20. The company’s profit was reportedly supported by its cement and ...
JK Lakshmi Cement sees 151% increase in net profit
India’s JK Lakshmi Cement has reported a 150.5 per cent YoY increase in net profit to INR986.3m (US$13.04m) in the final quarter of FY19-20, against INR393.8m in the corresponding quarter of the previous fiscal. However, the company’s revenue from operations was down 11.1 per cent YoY to INR11.37bn from INR12.79bn in the 4QFY18-19. The company has attributed the results to an improved produ...
Ciments du Maroc sees turnover down 10% in 1Q20
Ciments du Maroc (HeidelbergCement) reported a 9.9 per cent YoY drop in cement sales volumes in the first quarter of 2020 as the coronavirus pandemic affected the market. The company’s turnover declined 9.8 per cent YoY to MAD869m. Investments in the 1Q20 reached MAD14.8m, up 43.4 per cent when compared with the 1Q19.
Cemex announces organisational changes
Cemex has made several immediate appointment changes and changes at senior positions in the company. Jose Antonio Gonzalez, Cemex's current executive vice president of finance and administration, has been appointed executive vice president of strategic planning and business development. Maher Al-Haffar, current vice president of investor relations, corporate communications and public affai...
UltraTech Cement Ltd records net sales of INR105.8bn in 4QFY19-20
UltraTech Cement Ltd (Aditya Birla Group) announced its financial results for the 4Q and full year ended 31 March 2020. 4QFY19-20 Consolidated net sales reached INR105.8bn (US$1.39bn) vis-à-vis INR121.7bn in the corresponding period of the previous year. Profit before interest, depreciation and tax was at INR26.4bn versus INR26.72bn in the year-ago period. Profit after tax was INR32.43bn c...
BUA Cement reports 48% rise in revenue in 2019
Nigeria’s BUA Cement has reported a 47.5 per cent rise in revenue to NGN175.52bn (US$452.35m) for 2019, compared to NGN119.01bn in the previous year. EBITDA also surged 47.2 per cent YoY to NGN81.99bn from NGN55.7bn, while its EBITDA margin remained flat at 47 per cent. However, profit after tax was down 5.4 per cent YoY to NGN60.61bn in 2019, attributed to an NGN26.76bn tax credit given in ...
Huaxin Cement acquires ARM Cement's Tanzanian unit
The Tanzanian unit of Kenya's ARM Cement has been sold to China's Huaxin Cement, according to its administrator PricewaterhouseCoopers. Huaxin is expected to invest US$116m into Maweni Limestone Ltd to settle liabilities and another US$30m to complete a plant construction and upgrade. "Securing a suitable investor with the ability to make the requisite investments and inject much-needed ...
Taiheiyo Cement reports 4% fall in net sales for FY19-20
Japan’s Taiheiyo Cement has seen a 3.5 per cent YoY fall in net sales to JPY884.35bn (US$8.21bn) in the FY19-20 ending 31 March 2020, compared to JPY916.07bn in the previous year. Operating income was also down 7.6 per cent YoY to JPY61bn in the FY19-20, while net income declined 9.9 per cent to JPY39.15bn from JPY43.45bn.