Cement News tagged under: Australia
Wagners' annual net profit drops by 49%19 August 2019, Published under Cement NewsWagners in Australia has seen its annual net profit drop by 48.5 per cent to US$12.8m. The construction group blames its dispute with Boral for the poor business results. The building materials group has reported a 32 per cent fall in earnings from its core construction, materials and services business to AUD30.1m (US$20.38m) after its decision to stop selling cement to Boral. About 40 per cent of Wagners' earnings were generated form its arrangement with Boral until Boral claimed it could ... |
Adelaide Brighton updates its forecast for 201931 July 2019, Published under Cement NewsAustralia’s Adelaide Brighton has issued a profit warning for the 2019 period, stating that its underlying profit is expected to fall around 37 per cent YoY to AUD120-130m (US$82.6-89.6m) from AUD190.1m. The company has cut its interim dividend, cancelled ingredient imports and booked an AUD100m impairment charge, resulting in its shares posting the steepest fall in 15 years, according to Reuters. The warning arrives as Australia’s construction sector continues to contract, with AIG Cons... |
Southern Cross Cement plans new terminal in Brisbane15 July 2019, Published under Cement NewsAustralia’s Southern Cross Cement, a joint venture between Brickworks, Neilsen Group and Neumann Group, has announced an AUD60m (US$42.19m) investment for a new cement terminal at the Port of Brisbane. The 200,000tpa terminal will receive imports from southeast Asia and have enough capacity to serve 10 per cent of the market in southeast Queensland. Jonathan Riemann, general manager of Southern Cross Cement, expects population growth in the region to drive demand for cement. "Some of ... |
thyssenkrup Industrial Solutions opens new service centre in Australia23 May 2019, Published under Cement Newsthyssenkrupp Industrial Solutions has opened a new service centre in Brisbane, Australia, on 14 May 2019. The new facility is ideally located to support thyssenkrupp’s customer base on Australia's east coast as well as clients in Oceania that use major logistics channels through Brisbane. “As we want to offer the best possible services to our customers, we are continuously expanding our service offerings in the regions. Through our investment in Brisbane, we make sure that also our custom... |
Adelaide Brighton issues profit warning for 201910 May 2019, Published under Cement NewsAustralia's Adelaide Brighton has warned that profits for 2019 could be 10-15 per cent lower than the AUD190.1m (US$133m) recorded in 2018, due to weaker demand in residential construction and high competition from imports. The company attributed the profit warning to "further softening of demand for construction materials in the residential market, increased competition from cement imports, increased competitive pressures in Queensland and higher costs of key raw materials compared to the... |
Wagners suspends cement supply to Boral19 March 2019, Published under Cement NewsWagners 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 201801 March 2019, Published under Cement NewsAustralian 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 guidance06 February 2019, Published under Cement NewsBoral 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 CEO06 February 2019, Published under Cement NewsFollowing 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 market21 November 2018, Published under Cement NewsFletcher 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... |