Cement News tagged under: Cemento Polpaico

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Cemento Polpaico reports CLP4722.8m loss in 2023

28 March 2024, Published under Cement News

Chile-based Cemento Polpaico SA , part of the Hurtado Vicuña Group , posted a loss of CLP4722.8m (US$4.81m) in 2023, compared with a CLP3921m profit in 2022. Revenues fell 7.4 per cent YoY to CLP341140m from CLP368390m. The company sold 1,637,770t of cement in 2023, down 19.3 per cent than the equivalent period in 2022. Concrete sales decreased by 19.7 per cent YoY to 2,560,238m 3 in 2023. Cemento Polpaico started a corporate and operational reorganisation, including its subsidiaries, ...

Cemento Polpaico posts 9M23 loss

30 November 2023, Published under Cement News

Chile-based Cemento Polpaico reported losses of CLP9016.24m (US$10.4m) in the first nine months of 2023, compared with a profit of CLP3576.95m in the 9M22. The company's revenue improved 4.2 per cent YoY to CLP261,921.45m in the 9M23. EBITDA reached CLP9743.17m in the 9M23 when compared with CLP16,485.72m in the 9M22. "During the third quarter of 2023, a lower dynamism in the construction sector, marked by a significant decrease in the demand for materials, associated to a decrease in th...

Polpaico suspends Quilicura grinding operations

09 November 2023, Published under Cement News

Chile-based Cemento Polpaico will temporarily suspend operations at its grinding plant in Quilicura and transfer these to the Cerro Blanco plant in Til Til. The step is part of the company redistributing its production capacity nationwide due to corporate and operational restructuring, which is expected to be completed in the 1H24. The process will also seek greater logistical efficiencies and improved competitiveness. In addition, Cemento Polpaico will also integrated its subsidiaries...

Cemento Polpaico closes two concrete plants

09 October 2023, Published under Cement News

Chile-based Cemento Polpaico announced the closure of two concrete plants in Quilín and Renca, Metropolitan Region, as well as the temporary halt of operations at the Aconcagua Áridos plants. The step is due to the negative trend in the results of Polpaico Soluciones, which showed accumulated losses of CLP8386m (US$9.1m) before taxes as of June 2023 as a result of the crisis affecting the sector, reports CE Noticias  Financieras. Moreover, the industry expects a 28 per cent drop in result...

Andrés Segú Undurraga resigns from Polpaico Board

26 April 2023, Published under Cement News

Andrés Segú Undurraga has resigned from his position as director of Cemento Polpaico SA, Chile. His respective alternative director, José Tomás Edwards Alcalde, also resigned on 21 April. The company’s Board of Directors agreed to appoint Alejandro Gevert Detto as Mr Segú’ replacement, who will serve in this position until the next ordinary shareholders’ meeting when the Board of Director must be completely renewed.

Cemento Polpaico sees 70% drop in profits in 2022

01 March 2023, Published under Cement News

Chile’s Cemento Polpaico , owned by the Hurtado Vicuña Group , reported a 16.9 per cent increase in revenue in 2022 to CLP368,391m when compared with 2021 when revenue reached CP315,273m. The company sold 2,028,816t of cement, down 9.6 per cent YoY, while concrete sales reached 3,287,348m 3 , down three per cent YoY. However, net profits were down 70 per cent YoY to CLP3921m in 2022 from CLP12,901m in the previous year. "The year 2022 presented less dynamism in the sector of constructi...

Clinker unloading at Polpaico’s Mejillones terminal suspended

31 January 2023, Published under Cement News

Clinker unloading at Cemento Polpaico ’s Mejillones terminal in northern Chile will remain suspended at least until 1 August 2023 as Terminal Mejillones SA carries out repairs to the facilities, which were affected by a fire on 1 October 2022. The cement producer said it would be adopting a series of measures to minimise the impact of the suspension.

Cemento Polpaico reports 17% rise in 1H revenues, 1H profits are down

09 September 2022, Published under Cement News

Cemento Polpaico SA reported revenues of CLP178.053bn (US$201.8m) in the January-June 2022 period, up 16.9 per cent when compared with CLP152.376bn in the January-June 2021. The Chilean cement producer has attributed the increase in revenues mainly to “the updating of the price level in all businesses as a result of the strong increase in the costs of production and distribution resulting from rise in inflation, rise in the exchange rate, rise in the cost of fuel and the increase in the co...

Cemento Polpaico reports 67% drop in 1Q profit

31 May 2022, Published under Cement News

Chilean cement producer Cemento Polpaico reported net sales of CLP89,359m (US$107.6m) in the first quarter of 2022, up 7.5 per cent when compared with CLP83,145m in the 1Q21. However, the company’s net profits declined by 66.9 per cent in the 1Q22 to CLP1365m from CLP4124m in the 1Q21. The reduced performance has been attributed by the company to a rise in production  and distribution costs on the back of higher inflation, rising exchange rates and increasing input costs. In the 1Q22 t...

Cemento Polpaico appoints new general manager

09 March 2022, Published under Cement News

Cemento Polpaico has named Andrés Pérez Algarra as new General Manager, succeeding Javier Moreno Hueyo, who is leaving the post after five years of tenure. His appointment becomes effective 1 April 2022. Mr Pérez Algarra is currently the company’s commercial manager.