Cement News tagged under: Italcementi

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Standard & Poor’s revises Italcementi rating

20 April 2015, Published under Cement News

Standard & Poor’s announced Friday that it has revised the corporate rating of Italcementi SpA, and as a consequence the rating of Italcementi Finance SA’s outstanding unsecured bonds, from BB+ with negative outlook to BB with stable outlook. The rating of Ciments Français SAS’ remaining outstanding bond is also revised to BB/stable. “We acknowledge Standard & Poor’s decision, even if it comes just ahead of what we believe is going to be a positive earnings cycle, driven by both the progr...

Ciments du Maroc 9.3% fall in profit

13 April 2015, Published under Cement News

Ciments du Maroc closed 2014 with a 5.1 per cent fall in its turnover from MAD3.6bn (US$35m) to MAD3.4bn. The cement producer’s operating results experienced a 9.3 per cent drop to just over MAD1bn. The company attributes the decline to a slow building and public works sector. In addition, the eight per cent fall in housing starts contributed significantly to the limited growth of 0.8 per cent of the construction market. Looking ahead, Mario Bracci, Ciments du Maroc’s CEO said: “In 201...

Asia Cement in renewable energy schools project, Thailand

07 April 2015, Published under Cement News

Asia Cement, part of the Italcementi Group, has initiated the "25 Renewable Energy Schools Project" as part of the Thai cement producers corporate social responsibility, environmental and energy efforts. The project involves the installation of 4kW on-grid solar PV rooftops to be used alongside electricity distributed by the Provincial Electricity Authority (PEA) in 25 small and medium- sized schools. They are situated around three cement plants in Phra Phutthabat district located in Sarabu...

Ciments du Maroc: Moroccan market to show little change in 2015

02 April 2015, Published under Cement News

The Moroccan cement market is expected to show not much change in 2015 from the previous year, according to Mario Bracci, CEO of Ciments du Maroc. The Italcementi-owned cement producer delivered sales in 2014 in line with a 5.4 per cent domestic market contraction. Ciments du Maroc responded to the downturn by increasing the use of alternative fuels and improving operating efficiency, efforts which will continue in 2015. “Our goal for 2015 is to maintain our sales despite market forecast...

Berenberg Bank lifts Italcementi to EUR7.10

02 April 2015, Published under Cement News

Following the announcement of the 2014 figures of Italcementi, Berenberg Bank has increased its price target for the stock of Italcementi to EUR 7.10 from EUR 6.30 per share, but has downgraded its recommendation on the cement maker to "hold" from previously "buy". The earnings estimates are reduced by 46.6, 22.5 and 7.6 per cent to EUR0.05, EUR0.29 and EUR 0.60 per share for 2015, 2016 and 2017, respectively Abstracted from an original article in Boersen-Zeitung.

Egypt: Italcementi’s energy diversification focus

26 March 2015, Published under Cement News

Italcementi is currently focussing on energy source diversification at its Egyptian facilities, CEO Carlo Pesenti told Daily News Egypt. Mr Pesenti said the company will be relying on using coal, alternative fuels and renewable energy. Italcementi Managing Director in Egypt Bruno Carrè previously said the company will convert two new facilities in 2015, adding to two facilities converted in 2014. "We are investing some EGP400m per year for four years," Carrè said. "We have done one and we c...

Asia will drive cement growth, says Italcementi chief executive

16 March 2015, Published under Cement News

Italcementi Group foresees stronger growth of 2-3 per cent this year, with the key driver being Asia, backed by economic recoveries in the European Union and North America. Given the expected stronger growth, the group plans to expand its businesses to African countries such as Mozambique, Ghana and Tanzania, CEO Carlo Pesenti said during an interview with The Nation last week. "The company foresees better performance in Asia, including Thailand, with revenue for the continent projected to ...

Italcementi improves margins

06 March 2015, Published under Cement News

Italcementi's 2014 turnover declined by a further 1.8 per cent to EUR4155.6m but the underlying EBITDA did improve by 3.2 per cent to EUR649.1m. The depreciation charge declined by 3.1 per cent to EUR408.3m and impairment charges dropped by a further 70.9 per cent to EUR9.2m and the trading profit advanced by a further 42.3 per cent to EUR226.7m. Net financial charges rose by 14.3 per cent to EUR136.5m while the contribution from associates rose by 57.1 per cent to EUR11.7m to give a pre-...

Suez Cement Group sees 4Q gains

27 February 2015, Published under Cement News

With improved market conditions, Suez Cement Group of Companies (SCGC) of Egypt saw a 2.5 per cent increase in fourth-quarter revenues to EGP1.539m and progress in EBITDA which gained 11.5 per cent to EGP300m. Net profit after non-controlling interest increased 15.2 per cent during the same period to EGP129m. For the whole year, the Italcementi group company reported that sales increased 22 per cent to EGP6.52m, while recurring EBITDA improved 8.8 per cent to EGP1.154m compared to 2013 fig...

KORFEZ awarded Italcementi project in France

25 February 2015, Published under Cement News

KORFEZ ENG has signed a contract with Italcementi Group for the supply of a new second compartment mill shell lining for one of the cement producer’s plants in France. This system is intended for a 3.80m diameter two-compartment raw mill. A total grinding compartment of 7250mm will be equipped with a combination of lifter and sorting liners. The order is supplemented with a free mill inspection so that all the necessary information and dimensions  that form a basis for the design can be g...