Cement News tagged under: Egypt
South Valley Cement narrows loss in 1H2318 August 2023, Published under Cement NewsEgyptian cement producer South Valley Cement has announced sales of EGP464.01m (US$15.02m) in the first half of 2023, up from EGP326.11m in the same period a year earlier. The 1H23 saw the company post a net loss of EGP76.25m, down 35 per cent YoY from the EGP117.01m loss seen in the opening six months of 2022. South Valley Cement, part of Building Materials Industries Co , currently runs one cement plant, located in Beni Suef. |
Misr Cement (Qena) reports revenue advance in 1H2317 August 2023, Published under Cement NewsEgypt-based Misr Cement (Qena) Co has reported net sales of EGP1900m (US$61.49m) for the six months ended 30 June 2023, up from EGP1295m in the same period a year earlier. Net profit before income taxes for the 1H23 has come in at EGP86.37m, down from EGP101.46m in the opening six months of 2022, while operating income has advanced from EGP131.62m in the 1H22 to EGP172.98m in the same period the following year. The second quarter of 2023 saw net sales of EGP994.39m, an advance on the EGP... |
Sinai Cement cuts consolidated loss by 22% YoY in 1H2316 August 2023, Published under Cement NewsSinai Cement Co posted a 22.12 per cent YoY drop in consolidated net loss attributable to the holding company for the 1H23, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on 15 August. The company incurred a consolidated net loss excluding minority interest of EGP79.719m (US$2.58m) in 1H23, down from a net loss of EGP102.359m in 1H22. Net sales stood at EGP2.363bn in the period from 1 January until 30 June of this year, up from EGP1.025bn i... |
Qena Cement undergoes assessment for alternative fuel project31 July 2023, Published under Cement NewsAs part of Misr Cement Group’s commitment to its strategy to "positively impact on the environment”, the Qena cement plant has submitted an environmental impact assessment study for an alternative fuel project. The project is entitled “Using different types of hazardous and non-hazardous waste as an alternative fuel". The company aims to reduce its thermal energy use by harnessing alternative fuels as an energy source in cement kilns, and the safe disposal of hazardous and non-... |
Cementir reports 36% rise in 1H net profit28 July 2023, Published under Cement NewsCementir Holding posted broadly stable sales of EUR454.5m in the second quarter of 2023. Growth in Turkey, Asia-Pacific and Egypt was able to partially offset a decrease in revenues in the Nordic and Baltic area, Belgium and the USA. In the 2Q23 cement and clinker volumes sold declined by 6.8 per cent YoY to 2.8Mt due to a slowdown in sales in Denmark, Turkey, Belgium and the USA, despite the increase seen in China, Egypt and Malaysia. In the 2Q23 sales of ready-mixed concrete were down ... |
Egypt's cement exports rise 33% in 5M2313 July 2023, Published under Cement NewsEgypt’s cement exports climbed by 33 per cent during the first five months of 2023, according to a recent report by the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM). According to the report, exports from Egypt reached US$380m, up from the US$286m recorded during the same period in 2022. Côte d'Ivoire's imports of Egyptian cement had a value of US$84.347m, rising by 203 per cent YoY, reported Amwal Al Ghad. Ghana imported US$65.155m worth of Egyptian ... |
Misr Cement Group joins WCA15 June 2023, Published under Cement NewsThe World Cement Association (WCA) is welcoming Misr Cement Group, one of the longest-standing cement and building materials manufacturing companies in Egypt, as a corporate member. Misr Cement Group group works towards operating with a minimal environmental impact, by incorporating sustainable projects into its processes to protect and replenish the environment surrounding its facilities in Upper Egypt. Projects include the launch of environmentally friendly products, planting of trees i... |
Suez Cement invests millions in sustainability targets06 June 2023, Published under Cement NewsSuez Cement , part of the Heidelberg Materials Group , continues to invest heavily in its environmental sustainability efforts. According to the company, since 2010 it has spent US$60m on technology to lower dust emissions throughout its operations, resulting in an 80 per cent reduction in dust emissions by the end of 2020, compared to the company’s 2012 baseline. A further US$16m was invested in non-fossil-based fuels with the installation of alternative fuel (AF) technology in its pla... |
South Valley Cement reports loss in 1Q2306 June 2023, Published under Cement NewsEgypt’s South Valley Cement Co has reported net losses after tax of EGP37.05m (US$1.19m) in the opening quarter of 2023, up from EGP31.2m in the same period a year earlier. Sales over the same time frame came in at EGP338.32m, up from EGP206.32m in the 1Q22. In terms of earnings per share, a loss of EGP0.07 was seen in the first quarter of 2023, compared to a loss of EGP0.06 in the opening three months of 2022. The company runs one integrated cement plant in Beni Suef. |
Sinai Cement narrows 1Q loss30 May 2023, Published under Cement NewsEgypt-based Sinai Cement Co , part of Vicat , saw consolidated net losses after tax of EGP58.47m (US$1.89m) in the first quarter of 2023, compared with losses of EGP67.19m in the 1Q22. The company’s sales reached EGP1240m in the 1Q23, representing a 160.7 per cent increase on EGP475.57m in the year-ago period. |