Cement News tagged under: Cost-cutting
Cemex Philippines shuts down kiln and Davao terminal22 November 2018, Published under Cement NewsAPO Cement (Cemex group) in the Philippines has closed its Davao cement terminal and suspended one kiln line at its Cebu plant following the suspension of mining operations at Apo Land & Quarry. The closure means the lay off of 30 staff and cessation of work for 40 per cent of its contractors. These cost cutting measures are in addition to temporary suspensions affecting 30 per cent of its workforce. The company is engaging with suppliers in Cebu and neighbouring territoies for raw materia... |
Lafarge sees growth in the Middle East & Africa30 April 2015, Published under Cement NewsLafarge's first quarter turnover increased by 5.5 per cent to €2779m and EBITDA rose by 17.5 per cent to €403m, while the running profit advanced by 40.4 per cent to €205m. Net financial costs were reduced by 18.1 per cent to €190m but the pre-tax loss declined from €101m to €99m, with the net attributable loss declining by 28.9 per cent to €96m. Net debt at the end of March was 1.5 per cent lower at €9803m, giving a gearing level of 59.2 per cent. Cement deliveries in the quarter were dow... |
Fitch affirms Holcim at 'BBB'; Outlook Stable15 April 2015, Published under Cement NewsFitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and our expectation that its financial profile remains commensurate with its 'BBB' rating. We expect a recovery in global end-markets, particularly in developed markets, and the continued healthy, albeit slowing, growth in emer... |
Adelaide Brighton reports record net profit27 February 2015, Published under Cement NewsAdelaide Brighton reported record sales and net profit after tax of AUD1337.8m and AUD172.7m, respectively, for the year ended 31 December 2014. Revenue increased 8.9 per cent and net profit by 14.3 per cent YoY. Adjusting for a number of one-off items, underlying net profit after tax of AUD166.5m was 8.5 per cent higher than 2013. EBIT increased 11.1 per cent to a record AUD247.5m on an EBIT margin of 18.5 per cent. Earnings were aided by net significant items of AUD2.3m. Excluding the... |
Holcim sees 3% improvement in like-for-like net sales23 February 2015, Published under Cement NewsHolcim increased net sales by three per cent on a like-for-like basis in 2014. Growth mostly resulted from price improvements in many regions, particularly in North America against a favourable market environment as well as a response to cost inflation in Latin America. An unfavourable currency effect of 5.2 per cent and negative changes in consolidation structure impacted the consolidated net sales performance in 2014 which was down 3.1 percent to CHF19,110m (US$ 17.8 bn). Like-for... |
Semen Indonesia targets seven per cent sales growth26 January 2015, Published under Cement NewsSemen Indonesia is targeting sales growth of around seven per cent this year, despite a cut in the price of the construction material for state-run enterprises initiated by the government last week. Semen Indonesia’s new president, Suparni, said the company is targeting production of 30Mt and hopes for an increase over 2014, when volume rose three YoY to 28.5Mt. That figure included 2.3Mt produced by Thang Long Cement, a Vietnamese company acquired by Semen Indonesia in 2013. The Indon... |
Holcim: 2015 expected to be "solid year"18 November 2014, Published under Cement NewsHolcim expects 2015 to be a “solid year” for the group as it aims to achieve substantial improvement of its results. In a statement released ahead of today's Holcim Investor and Analyst Day 2014, the Swiss cement major said it anticipates 2015 like-for-like operating profit (excluding merger-related costs) to be in the range of CHF2.7-2.9bn (EUR2.2-2.4bn/US$2.8-3bn). Group companies in India, Indonesia, the USA, Mexico and the UK are being seen as the main growth drivers. The company ... |
AdBri 1H net profit falls, revenue edges ahead28 August 2014, Published under Cement NewsAdelaide Brighton reported a 3.9 per cent rise in first-half revenue to AUD602m, as improved pricing and increased cement from the residential sector on the eastern seaboard offset a decline in project volumes in South Australia and a reduction in lime sales volumes. The company reported a net profit for the half year ended 30 June 2014 of AUD51.2m, down 15.9 per cent compared to the same period of last year. Adjusting for significant items, underlying net profit of AUD61.2m was 2.9 per... |
Lafarge Zambia considers review of headcount20 August 2014, Published under Cement NewsLafarge Zambia is considering reducing its workforce of 670 employees by around 30 per cent, according to a memorandum circulated by a group of unionised workers. A sales report from Lafarge dated 12 August 2014, Emmanuel Rigaux, CEO of Lafarge Zambia, stated: “The recent trend in our costs though is not favourable, partly as a result of negative currency impact. We must take action to contain our costs and ensure the sustainability of our business, including the review of our headcount. ... |
Fitch affirms HeidelbergCement’s ratings07 August 2014, Published under Cement NewsFitch Ratings has affirmed HeidelbergCement’s Long-term Issuer Default Rating (IDR) at 'BB+' and Short-term IDR at 'B'. The Outlook on the Long-term IDR is 'Stable'. The agency has also affirmed the senior unsecured rating of debt issued by HC's related entities, HeidelbergCement Finance BV, HeidelbergCement Finance Luxembourg SA and Hanson Ltd at 'BB+'. “The affirmation reflects HC's investment grade business profile as the world leader in aggregates and a top three cement producer. Th... |