Cement News tagged under: Egypt

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Can Titan expect a better 2019?

24 May 2019, Published under Cement News

This week Titan Group announced its first-quarter 2019 results which saw a 12.5 per cent rise in turnover but also a EUR6.2m loss appearing on the company’s profit and loss account. While the US market and southeastern Europe returned healthy business results, the company’s performance was more muted in its other markets, particularly in Egypt and Turkey. However, going forward Titan sees the overall group outlook for 2019 as more favourable. The USA is Titan’s most important market, ge...

Titan reports 13% advance in 1Q turnover but EUR6.2m net loss

23 May 2019, Published under Cement News

Greece-based Titan Group reported a 12.5 per cent rise YoY in consolidated turnover to EUR362.7m in the first quarter of 2019 ended 31 March 2019. The company attributed the higher sales to a robust US market and growth in southeastern Europe. EBITDA was up two per cent to EUR44m as the company faced a challenging business environment in Egypt and Turkey. Titan's net result was impacted by higher depreciation charges and unfavourable foreign exchange rates, recording a EUR6m loss (1Q18: E...

El Swedy Cement sells Sinai Cement stake

21 May 2019, Published under Cement News

Egypt-based El Swedy Cement has sold its entire stake of 7.476 per cent in Sinai Cement’s capital for EGP41.97m (US$2.46m), or at an average price of EGP8.25/share, EFG Hermes said in a statement to the Egyptian Exchange on Monday. In the first quarter of 2019, Sinai Cement’s net losses eased to EGP-78.18m from EGP-83.98m in the year-ago period. Revenues increased to EGP201.08m, up from EGP147.99m in the 1Q18.

South Valley Cement profit down 54% in 2018

17 May 2019, Published under Cement News

Egypt-based South Valley Cement Co posted a profit of EGP10.18m (US$597,032)  in 2018, representing a 54 per cent YoY dropwhen compared with EGP22.14m reported in 2017, according to as statement to the Egyptian Exchange (EGX). Revenues declined to EGP798.93m in 2018 from EGP1.02bn in the previous year. The company’s operating profit margin fell sharply due to higher production costs and a fall in cement prices as supply rose while demand eased.

Arabian Cement records 96% fall in profit

16 May 2019, Published under Cement News

Egypt’s Arabian Cement has reported a 96.3 per cent YoY decline in consolidated profits for the first quarter of 2019, declining to EGP5.97m (US$350,284) from EGP162.01m in the year-ago period. Sales fell to EGP827.85m in the 1Q19, compared to EGP913.93 in the corresponding period of last year. Stand-alone results show a 97.4 per cent decrease in profits to EGP4.23m from EGP160.95m.

Vicat can expect higher returns in USA and Brazil

10 May 2019, Published under Cement News

This week Vicat announced its 1Q19 results with a positive turnover increase of 4.7 per cent to EUR600m. It is a good opportunity to take a closer look at this multinational and the strength of cement demand in some of the countries where it is operating. In France, where the company's headquarters are located, the market has been one of the key supports in Vicat's 8.1 per cent rise in turnover to EUR225m. The company cited favourable macroeconomic and industry conditions supported by high ...

Egyptian cement exports decline in the 2M19

24 April 2019, Published under Cement News

Egyptian cement exports declined in value to US$19m in the first two months of 2019 compared with US$23m of the year-ago period, according to the Export Council for Building Materials (ECBM). In February alone, exports fell 11.1 per cent YoY to US$8m from US$9m. The same month saw the country export to 26 countries, including five new markets, Japan, Cyprus, Slovenia, Spain, France and China. Libya is ranked at the top of cement importing countries, according to the report. Imports incre...

ASEC renews technical management contract with Beni Suef Cement

24 April 2019, Published under Cement News

ASEC has announced the renewal of its Technical Management contract with Misr Beni Suef Cement Company until December 2023.   Entrusted with the technical management of the first production line in 2001, ASEC has sustained the production level above the nominal capacity. In 2007 the contract was first renewed by an extra five years, adding as well a second line to ASEC's operation and maintenance scope. The combined cement capacity of the plant's two lines now stands at 3.1Mta.   "We owe th...

Geocycle opens alternative fuel facility in Ain Sokhna, Egypt

22 April 2019, Published under Cement News

Egypt’s Minister of Environment, Yasmeen Fouad, has inaugurated a new waste management and alternative fuel production plant, set up by Geocycle Egypt at Ain Sokhna in the Suez Governate. EGP200m (US$11.65m) was invested by Geocyle in the new factory, which is equipped with modern technology to produce 400,000t high-quality alternative fuel to replace diesel, mazut and gas currently consumed at the 8.9Mta Lafarge Cement factory near Ain Sokhna. Geocycle, a subsidiary of LafargeHolcim, is a...

Arabian Cement posts 24% revenue increase in 2018

26 March 2019, Published under Cement News

Egypt-based Arabian Cement Co, a subsidiary of Spain’s Grupo Bertolin, posted a 23.6 per cent YoY increase in revenue to EUR168m in 2018. Meanwhile, net profit also advanced 7.4 per cent to EUR11.9m for the year. The results show that, despite a depreciation in the Egyptian pound, Arabian Cement has remained profitable. It distributed over EUR10m in dividends in 2018.