Cement News tagged under: Eagle Cement Corp

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Eagle Cement Corp achieve PHP1.59bn net profit in 1Q19

07 May 2019, Published under Cement News

Eagle Cement Corp reported a net profit of PHP1.59bn (US$30.6m) in 1Q19. This was a rise of 49 per cent YoY driven by a double-digit growth in sales volumes and higher cement selling prices. Eagle Cement's net sales in the first quarter amounted to PHP5.37bn, up by 34 per cent in the same period last year, the company told the Philippine Stock Exchange. The "strong domestic demand driven by private consumption," the report said. Net income margin improved to 30 per cent from around...

Big Asian producers in the frame for Holcim Philippines acquisition

28 March 2019, Published under Cement News

China's Anhui Conch Cement Co and Japan's Taiheiyo Cement Corp have been invited to the next round of bidding for LafargeHolcim's Holcim Philippines Inc, along with Eagle Cement Corp. Shares of Holcim Philippines have risen more than 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, says Bloomberg. Holcim Philippines has also attracted interest from China Resources Cement Holdings Ltd and Hongshi Group Co, reports Bloomberg. Meanwhile, Holcim Philippines In...

Eagle Cement records net profit increase in 2018

07 March 2019, Published under Cement News

Philippines-based Eagle Cement Corp has recorded a 13 per cent YoY rise in net profit to PHP4.8bn (US$91.98m) in 2018, on the back of a double-digit expansion in sales volume. Net sales advanced 11 per cent YoY to PHP16.5bn for the full-year period.  In the 4Q18, the company’s net income surged 36 per cent YoY to PHP1.3bn while sales increased 19 per cent to a quarterly record of PHP4.3bn.  "While we are faced with challenges in the industry, we remain steadfast to expand the company to ...

Eagle Cement denies reports of Holcim Philippines acquisition

05 March 2019, Published under Cement News

Eagle Cement Corp has released a clarification statement denying reports that it had submitted a bid for Holcim Philippines this week. The statement reads: "By way of clarification and response to the exchange, we advise that [the] company is not involved in any discussion for the acquisition of Holcim Philippines ("Holcim"). However, we further advise that Mr Ramon S Ang, chairman of the company, expressed on several occasions interest in the assets of Holcim." Holcim Philippines has also...

Eagle Cement sees 6% rise in 9M net profit

12 November 2018, Published under Cement News

Eagle Cement Corp reported in the 9M18 net sales of PHP12.2bn (US$229.2m), up nine per cent YoY from PHP11.2bn in the 9M17. Strong sales and stable prices supported the rise in net sales. Net profit of the Philippine cement producer advanced by six per cent to PHP3.5bn from PHP3.3bn in the year-ago period. Despite higher input costs, EBITDA rose by three per cent while margins increased by 42 per cent. "We remain aggressive and committed in growing our company organically as we are lev...

Eagle Cement Corp grows net profits by 5%

09 August 2018, Published under Cement News

Philippine-based Eagle Cement Corp grew its net profit by five per cent YoY to PHP2.3bn (US$43.3m) in the 1H18 with higher sales volume compensating for lower selling prices.
 The company's first-half net sales rose by some 10 per cent YoY to PHP8.21bn. Gross profit margin was maintained at 48 per cent. Cash flow as measured by earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by five per cent during the period, translating into an EBITDA margin of 43 per cent. A...

Eagle Cement sees PHP350m in savings

22 June 2018, Published under Cement News

Eagle Cement Corp expects to generate some PHP530m in savings from the three-year income tax holiday granted by the government for the company’s recently-completed third production line in Bulacan. The savings will be generated over a three-year period between 2018-20. "That doesn't count yet other incentives that we get in terms of tax savings from the importation of certain equipment, bringing in the required equipment machineries from abroad. So we also get some kind of savings on cost...

Eagle Cement records 3% net profit increase

04 May 2018, Published under Cement News

Philippines-based Eagle Cement Corp has recorded a three per cent YoY increase in net profit to PHP1.1bn (US$21.29m) for the first quarter of the year. Revenue has risen six per cent YoY to PHP4bn in the same period, according to The Philippine Inquirer. Eagle Cement attributed the performance to "long standing cost-effective and efficient production grounded on owning the country’s most-modern end-to-end cement manufacturing plant." "We remain confident about the future as private consum...

Eagle Cement's net profit rises to US$82m

16 March 2018, Published under Cement News

Philippine-based Eagle Cement Corp increased its net profit last year by four per cent to PHP4.26bn (US$82m) on strong sales volumes. Excluding expenses from its initial public offering, net profit rose by five per cent to PHP4.33bn last year, the company disclosed to the Philippine Stock Exchange on Friday. Eagle Cement reached PHP14.87bn in net sales in 2017, a 12 per cent YoY increase. "We have continued to beat our operational targets in terms of volume growth and cost efficiencies....

Eagle Cement breaks ground on Cebu Line 4

23 November 2017, Published under Cement News

Eagle Cement Corp has broken ground on the fourth production line at its Cebu plant. The Cebu Line 4 is set for completion in 2020 and will include a 2Mta integrated cement plant, port facilities and cement terminals to serve the islands of Visayas and Mindanao. Currently, the company has two lines producing about 5.1Mta of cement and serves the greater Luzon markets. Eagle is also aiming to complete its third production line (2Mta) in Bulacan by 2018, which will raise capacity to 7.1Mta....