Cement News tagged under: Egypt

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Egypt's cement sector sees sales rise 15% YoY

15 April 2021, Published under Cement News

Egypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco...

Lafarge Egypt introduces EcoLabel cement

08 April 2021, Published under Cement News

Lafarge Egypt has announced that it will introducing EcoLabel cement for the first time in Egypt. The new products comply with the group’s green criteria, including having a lower CO 2 footprint and recycled content. "Hydrocem Plus EcoLabel & Hydrocem EcoLabel represent the industry’s broadest range of green cement for high-performing, sustainable and circular construction," said Solomon Baumgartner Aviles, CEO of Lafarge Egypt. "We are dedicated to R&D at the forefront of carbon neutra...

South Valley Cement sees net loss narrow in 2020

06 April 2021, Published under Cement News

Egypt’s South Valley Cement Co has recorded a net loss of EGP250.59m (US$15.97m) in 2020, narrowing from an EGP316.34m loss seen in the previous year. The company’s sales declined 20.3 per cent YoY to EGP350.21m from EGP439.26m in 2019.

Titan Cement Group records FY20 revenue of EUR1607m

23 March 2021, Published under Cement News

Titan Cement Group delivered strong results in 2020, despite the uncertainty caused by the COVID-19 pandemic. Group consolidated revenue reached EUR1607m and was stable compared to the previous year. EBITDA posted a solid increase of 7.1 per cent to EUR286.2m . This was the highest EBITDA recorded since 2010. Net profit after taxes and minorities dropped to EUR1.5m (EUR50.9m in 2019) as a result of significant non-cash charges taken representing the full write-off of the EUR46.6m goodwil...

Arabian Cement reports net loss in 2020

01 March 2021, Published under Cement News

Egypt’s Arabian Cement Co has reported an EGP122.78m (US$7.8m) net loss during 2020, compared with an EGP28.92m profit in the previous year. Sales revenues declined 20 per cent YoY to EGP2.48bn from EGP3.1bn. On a standalone basis, the company saw losses reach EGP116.21m against an EGP30.09m profit in 2019.

Egyptian promise

01 February 2021, Published under Cement News

Lafarge Egypt is among the leading companies in the domestic building materials sector with a long-standing history in the country. Despite current market headwinds and the impact of COVID-19, Solomon Baumgartner-Aviles, the newly-appointed CEO of Lafarge Egypt, explains why the country holds much promise for the group globally and the MEA region, and outlines strategies for overcoming challenges. By Lafarge Egypt, Egypt. Lafarge Egypt provides an insight into the effects of the COVID...

Suez Cement receives approval to delist from EGX

31 December 2020, Published under Cement News

The Egyptian Exchange’s (EGX) listing committee has approved the voluntary delisting of Suez Cement Group from the EGX, according to a disclosure. Suez Cement's capital amounts to EGP909.28m (US$57.74m) distributed on more than 181.8m shares. The company purchased the shares of dissenting shareholders at EGP7.50 each.

South Valley Cement reports contraction in net loss

02 December 2020, Published under Cement News

Egypt’s South Valley Cement has seen its net loss contract to EGP132.81m (US$8.48m) in the first nine months of 2020, compared to EGP173.97m in the year-ago period. The company had also reported a contraction in its net loss for the first half of 2020.

Metallurgical Industries sells 6.4m shares in Tourah Portland Cement

30 November 2020, Published under Cement News

Egypt’s Metallurgical Industries Holding has reportedly sold 6.4m shares in Tourah Portland Cement. The share sale has a value of EGP45.7m (US$2.91m). Tourah Portland also reported a net loss in its 3Q20 results last week.

Tourah Portland Cement reports 10% decline in net sales

24 November 2020, Published under Cement News

Egypt’s Tourah Portland Cement has reported a net loss of EGP56.7m (US$3.62m) in the third quarter of 2020, compared to a net loss of EGP55.3m in the year-ago period. Net sales declined 9.8 per cent YoY to EGP13.8m from EGP15.3m in the 3Q19.