Cement News tagged under: Egypt

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Egypt sees exports up 180% in 10 months

24 December 2021, Published under Cement News

Cement exports from Egypt in the first 10 months of 2021 have increased 180 percent to US$397m when compared with US$142m in the 10M20, according to the Export Council for Building Materials, Refractories and Metal Industries. The country exported cement to 79 countries, including 25 new destinations. Five countries accounted for 60 per cent of exports, led by Côte d’Ivoire, and followed by Libya, Ghana, Sudan and Kenya. Other countries included Cameroon, Togo, Spain, Guinea, Mauritania, L...

Arabian Cement exports advance 49%

07 December 2021, Published under Cement News

Egypt-based Arabian Cement Co exports increased by 49 per cent YoY in the January-October 2021 period, according to Sergio Alcantarilla, the company’s CEO. Export destinations during this time included Libya, Spain, Sudan, the USA and Yemen. Arabian Cement posted a consolidated net loss of EGP23.21m (US$27,1844) in the 9M21, compared to EGP39.77m in the 9M20.

InterCement's cement volumes remain stable in 3Q21 at 5.4Mt

01 December 2021, Published under Cement News

InterCement reports that its total cement volume remained at a solid 5.4Mt in the 3Q21, reflecting stability YoY due to the sizeable comparison base of last year, when post pandemic pent-up demand enhanced the base.     The cement industry in Argentina remained on a strong pace, with Loma Negra volumes up   eight per cent YoY, helped by some recovery of bulk segment. Argentine volumes expanded by 8.4 per cent versus the 3Q20.  InterCement’s Brazilian volumes sold reached 2.5Mt, despite...

Sinai Cement reports 67% rise in net sales

30 November 2021, Published under Cement News

Egypt’s Sinai Cement saw its consolidated net loss contract to EGP323.3m (US$20.58m) in the first nine months of the year, compared with EGP425m in the year-ago period. Consolidated net sales advanced 67.3 per cent YoY to EGP984.8m from EGP588.7m in the 9M20.

Misr Cement (Qena) announces 168% surge in profit

15 November 2021, Published under Cement News

Egypt’s Misr Cement (Qena) has reported a 168 per cent YoY surge in consolidated net profit during the first nine months of 2021, reaching EGP107.4m (US$6.84m) from EGP40.11m in the comparable period of 2020. Standalone net profit also advanced 78.9 per cent to EGP80.77m against EGP45.15m in the 9M20. 

Arabian Cement Co announces contraction in net loss

15 November 2021, Published under Cement News

Egypt’s Arabian Cement Co has announced a consolidated net loss of EGP23.21m (US$1.48m) during the first nine months of 2021, an improvement from the EGP39.77m net loss seen in the 9M20.  The standalone net loss reached -EGP24.53m against -EGP38.25m in the January-September 2020 period.

Has Egypt's cement sector turned the corner?

24 September 2021, Published under Cement News

Egypt's cement sector has been battling against the economic tide for a considerable time as overcapacity, the end of energy subsidies and low cement demand has pushed some producers to the edge of existence, while others have become too debt-ridden to survive. However, this week saw better news as the country is launching a significant infrastructure drive and prices of construction materials have risen. Is it this simple to fix Egypt's long-suffering cement sector? It will take a prolonge...

Helwan Cement to install WHR system

17 September 2021, Published under Cement News

Suez Cement Group of Companies (SCGC), owned by Heidelberg Cement group, has announced an investment of around US$20m to build a waste heat recivery system (WHR) at its Helwan cement factory in Egypt. The new facility will be using the latest technologies to ensure an environmentally friendly and energy-efficient production process, and significantly reduce CO 2 emissions produced from the electricity supply.  The WHR system will have the potential to generate up to 18MW of power for...

Misr Cement (Qena) posts 9% profit increase

17 August 2021, Published under Cement News

Egypt’s Misr Cement (Qena) has recorded a 9.2 per cent YoY advance in consolidated net profit for the January-June period of 2021, rising to EGP69m (US$4.39m) from EGP63m in the 1H20. However, net revenue declined 4.7 per cent to EGP1.28bn from EGP1.34bn. The company has attributed the increase in profitability to improved efficiency and total exports, which climbed 316 per cent YoY to 169,000t from 41,000t in the first half of 2020.

Sinai Cement records 1H21 net loss of EGP253m

17 August 2021, Published under Cement News

Sinai Cement Co reported a standalone net loss of EGP252.666m (US$16m) in the 1H21, according to the company’s financial statements. This marked a YoY rise of three per cent when compared to a loss of EGP245.687m in 1H20. In June 2021, Sinai Cement’s ordinary general assembly approved selling its shares in Sinai White Portland Cement Co based on the fair value of Sinai White’s share.