Cement News tagged under: Australia

RSS feed

Wagners suspends cement supply to Boral

19 March 2019, Published under Cement News

Wagners Holding Co Ltd has suspended the supply of cement to Boral Ltd for six months after Boral had issued a third-party pricing notice to Wagners under their cement supply agreement. Boral has seen that it can obtain cement supplies cheaper than the price Wagners is offering. Boral's market price is in the form of an unsigned offer and Wagner's believe it may not be genuine. Wagners has commenced a formal process to disrupt the validity of the action, says Proactive Investors. Wagners...

Adelaide Brighton posts 1% fall in net profit in 2018

01 March 2019, Published under Cement News

Australian cement producer Adelaide Brighton posted a 1.4 per cent decline in net profit to AUD185.3m (US$131.5m) in 2018 as cement margins declined and slower growth in South Australia and Western Australia offset strong demand in New South Wales and Victoria. “East coast construction markets were strong in 2018, South Australia and the Northern Territory were flat and Western Australia was down, while lime demand from the resources sector was stable,” Adelaide Brighton’s CEO, Nick Miller...

Boral releases revised FY19 guidance

06 February 2019, Published under Cement News

Boral Ltd announced that it expects net profits after tax for 1HFY19 to be around AUD200m (US$142.6m) and EBITDA to be approximately AUD483m. Excluding the impact of lower earnings due to the sale of Denver Construction Materials (in July 2018) and Texas Block (in November 2018), EBITDA for the 1HFY19 is expected to be broadly steady. EBITDA growth from Boral North America is likely to be offset by lower earnings in Australia and a lower contribution from USG Boral. Boral's FY19 EBITDA is ...

Holcim Australia announces new CEO

06 February 2019, Published under Cement News

Following the commencement of Nick Miller’s duties as CEO of Adelaide Brighton last week, the company has announced the departure of George Agriogiannis, executive general manager of concrete and aggregates. Mr Agriogiannis will become chief executive of Holcim Australia on 11 March. The current CEO of Holcim Australia, Mark Campbell, will leave the company at the end of March. "I wish to announce that Mark Campbell has decided to leave Holcim Oceania to pursue his career outside the grou...

Fletcher building hit by Golden Bay shutdown and Australian residential market

21 November 2018, Published under Cement News

Fletcher Building Ltd's performance has been impacted by trading conditions and a four-week shutdown of subsidiary Golden Bay Cement which cost in the range of NZD8-11m (US$5.4-7.5m). The company has downgraded its full-year EBIT by 10 per cent to NZD20m. "The 10 per cent lower ebit was a reflection of Australian trading conditions, the Golden Bay Cement issue and timing of sales in its New Zealand residential business,'' said Craigs Investment Partners broker Peter McIntyre. In addition...

New levy to increase input costs for Australian manufacturers

16 November 2018, Published under Cement News

Australian manufacturers and industry groups have warned that a new "biosecurity levy" would increase costs by 3000-5000 per cent on the key inputs for cement production, aluminium and steel. The levy, included in the May budget, is estimated to raise AUD108m (US$78.45m) a year, according to The Australian. Due to start on 1 July 2019, it will see manufacturers pay a AUD1/t levy on non-containerised cargo, instead of paying a fee-for-service for biosecurity inspections. "Currently manufac...

Adelaide Brighton announces new CEO

19 October 2018, Published under Cement News

Australia’s Adelaide Brighton has announced that Nick Miller will become the company’s new CEO after Martin Brydon leaves the company next year. Mr Miller is the CEO of Broadspectrum, an infrastructure and maintenance service group, and was the managing director of civil construction company Fulton Hogan between 2010-17. Mr Miller is expected to take up the position no later than 17 April 2019, according to Zlatko Todorcevski, chairman of Adelaide Brighton.

Boral concludes deal with Geelong Port for new facility

26 September 2018, Published under Cement News

A new clinker grinding and cement facility is to be built at Geelong following an agreement between Boral Cement and Geelong Port, Australia. The 25-year agreement will see Boral invest AUD130m (US$94.3m) in a 1.3Mta facility, which is to be connected by a conveyor system to Lascelles Wharf to provide efficient discharge and processing. The new facility is expected to enable Boral to increase capacity to meet future infrastructure demand in Victoria and extend Boral’s range of products. ...

Boral posts 49% net profit surge in FY18

30 August 2018, Published under Cement News

Australia’s Boral has announced a 49 per cent YoY surge in in net profit to AUD441m (US$322.45m) for the FY18 ended 30 June. Sales revenue increased 34 per cent to AUD5.9bn, while EBITDA advanced 47 per cent to AUD1.06bn. The significant earnings growth has been attributed to the acquisition of Headwaters Inc in the US, alongside Australia’s booming construction market, according to a press release. "In recent years we have worked to initially fix and then transform Boral’s portfolio to ...

Adelaide Brighton records net profit increase in 1H18

22 August 2018, Published under Cement News

Australia's Adelaide Brighton has posted a 17.7 per cent YoY increase in net profit to AUD84.5m (US$62m) in the 1H18. Revenue saw a rise of 11.7 per cent to AUD807.2m, on the back of strong markets in New South Wales, Queensland and Victoria. "It's really pleasing to deliver record half-year financial results and dividends for our shareholders. Revenue, EBIT, net profit, cash flow and dividends were all first-half records," said Martin Brydon, CEO, Adelaide Brighton. The company expect...