Cement News tagged under: GCC
Nearshoring is leading to Mexican demand growth05 January 2023, Published under Cement NewsThe growing development of industrial properties due to nearshoring is leading to a rise in Mexico’s cement demand of approximately 10 per cent, particularly in the north of the country. The focus of demand is reported to centre on the Ciudad Juárez, Chihuahua. "In segments such as the construction of warehouses, industrial and commercial parks, in Mexico due to all the nearshoring activity we are seeing an increase in this segment of around 10 per cent this year," according to GCC’s gene... |
GCC posts 18% hike in 3Q net profit26 October 2022, Published under Cement NewsGCC reported an 11.8 per cent YoY increase in sales to US$352.8m in the July-September 2022 period from US$315.4m in the year-ago period. EBITDA in the 3Q22 advanced by 6.6 per cent YoY to US$117.4m. Meanwhile, the consolidated net profit of GCC increased by 18.4 per cent YoY to US$69.5m in the 3Q22 when compared with US$58.7m in the 3Q21. “Once again we achieved an extraordinary performance. The results of the third quarter reflect that GCC continues to successfully mitigate the impacts o... |
GCC market to expand at a CAGR of 6% in 2022-3225 October 2022, Published under Cement NewsThe Gulf Corporation Council (GCC) cement market is predicted to grow at a CAGR of six per cent between 2022 and 2032, according to a report by Future Market Insights. Demand for cement by the end of the period is expected to reach a value of US$12,651m. Much of this growth is forecast to come from the residential sector on the back of population growth, along with public infrastructure and non-residential buildings, such as hospitals. According to the report, over the forecast period, Sa... |
GCC invests US$750m to expand Odessa capacity04 August 2022, Published under Cement NewsGCC plans to invest US$750m to expand its production capacity at its plant in Odessa , Texas, USA. The project will increase cement production capacity by more than 1Mta and reduce the plant’s greenhouse gas intensity by 13 per cent, according to a statement sent to the Mexican Stock Exchange. "GCC will carry out the project at the Odessa plant because the US market is developing faster and represents savings in freight compared to the plant located in Chihuahua, Mexico," it said. The... |
GCC sees 16% rise in 1Q net sales27 April 2022, Published under Cement NewsGCC reported an 15.7 per cent advance in consolidated net sales to US$206.9m in the first quarter of 2022 when compared with the equivalent period of 2021. Operating income in the 1Q22 was 23.1 per cent higher at US$31.4m when compared with the 1Q21. In the 1Q22 EBITDA increased 10.2 per cent YoY to US$54.5m (1Q21: US$49.5m) with a margin of 26.4 per cent, down from 27.7 per cent in the 1Q21. However, net income dropped 14.3 per cent YoY to US$13.1m from US$15.3m in the 1Q21. As of 31... |
GCC to modernise Samalayuca plant22 February 2022, Published under Cement NewsGCC has signed an EPC contract with thyssenkrupp Polysius to upgrade the pyroprocess system, at its Samalayuca plant , to increase the clinker production capacity, increase the usage of alternative fuels and substantially reduce emissions in Samayaluca, Mexico. The project involves the engineering, supply and modification of the preheater including cyclones an extension of the calciner, as well the installation of a prepol ® SC-S to increase the utilisation of alternative fuels. T... |
GCC reports favourable performance in 4Q21 and 202127 January 2022, Published under Cement NewsGCC reported a 10.9 per cent YoY advance in consolidated net sales to US$257.9m in the fourth quarter of 2021. EBITDA remained stable at US$83.1m with an 31.5 per cent EBITDA margin. Total cement volumes in the US grew by 5.1 per cent, but excluding oil well cement, they fell 5.5 per cent when compared with the 4Q20. Consolidated sales were further supported by a rise in US cement and ready-mix prices of 11.8 per cent and three per cent, respectively. In Mexico cement and ready-mix volum... |
GCC reports 12% rise in 3Q21 net sales27 October 2021, Published under Cement NewsMexico’s GCC has announced consolidated net sales of US$315.4m in the third quarter of 2021, up 12.2 per cent YoY on US$281.1m in the 3Q20. EBITDA also advanced 10.2 per cent to US$110.1m from US$99.9m, while its EBITDA margin saw a modest decline to 34.9 per cent from 35.5 per cent. “We are pleased with the results delivered despite supply chain and energy cost challenges. GCC is on track to meet our full-year guidance, assuming favorable weather conditions continue,” said Enrique Escal... |
GCC reports 44% increase in 2Q net income28 July 2021, Published under Cement NewsGCC saw its consolidated net sales increased 18.1 per cent YoY to US$286.7m in the 2Q21 from US$242.8m in the 2Q20. EBITDA advanced 18.6 per cent YoY to US$97m in the 2Q21 from US$81.8m in the 2Q20. As a result, the EBITDA margin edged up from 33.7 per cent to 33.8 per cent over the same period. Net income increased 43.8 per cent to US$47.7m in the 2Q21 from US$33.2m in the year-ago period. In Mexico cement and ready-mix volumes increased 17.1 and 41.4 per cent, respectively. In the USA c... |
GCC reports strong 2Q21 results and prepares for expansion28 July 2021, Published under Cement NewsGCC reported a net sales increase of 18 per cent in the 2Q21 and a rise in EBITDA of 19 per cent. The company’s net financial expenses totalled US$10m during this accounting period. GCC reported cement volumes rising by 11 per cent in the 2Q21 compared to eight per cent in 2020. Concrete sales fell by 17 per cent compared to a six per cent rise in the 2Q20. Commenting on guidance for the remainder of 2021, Enrique Escalante, GCC’s CEO said: “ Starting in Mexico, we now expect GCC’s cem... |