Cement News tagged under: North Africa

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Suez Cement sees net loss widen in 9M20

23 November 2020, Published under Cement News

Egypt’s Suez Cement has posted a consolidated net loss of EGP888.9m (US$56.79m) in the first nine months of 2020, widening from an EGP521.4m loss in the year-ago period. The company’s sales also declined 21.8 per cent YoY to EGP3.84bn from EGP4.91bn. In its standalone business, net losses contracted to EGP587.2m from EGP736.77m in the 9M19. Elsewhere, the Egyptian Stock Exchange has announced the execution of HeidelbergCement France’s mandatory takeover offer (MTO) for Suez Cement’s share...

Beni Saf starts clinker exports to Mauritania

23 November 2020, Published under Cement News

GICA-owned Beni Saf Cement in Algeria started exports of clinker with a 13,000t shipment from the port of Ghazaouet to Mauritania on 18 November 2020. The company’s exports are in line with the government’s policy of promoting the country’s non-hydrocarbon exports. GICA has exported to Benin, Cameroon, Côte d’Ivoire, Gambia, Ghana, Guinea, Mauritania and Senegal.

Misr Cement (Qena) sees consolidated net profit surge 32% YoY

17 November 2020, Published under Cement News

Egypt's Misr Cement (Qena) has reported a consolidated net profit of EGP39.2m (US$2.51m) during the 3Q20, up 31.8 per cent YoY from EGP29.7m. Revenues fell 18.5 per cent to EGP1.84m from EGP2.26m in the year-ago period. In its standalone business, the company saw its net profit surge 106.7 per cent YoY to EGP45.16m from EGP21.85m in the 3Q19. "The company stood alone from all its rivals in the Egyptian market by achieving more remarkable successes in the third quarter of 2020," said Abdel...

Arabian Cement posts net loss in the 9M20

17 November 2020, Published under Cement News

Egypt’s Arabian Cement Co has reported a consolidated net loss of EGP39.78m (US$2.54m) in the first nine months of 2020, compared to a net profit of EGP33.3m in the year-ago period. The company’s standalone net loss reached EGP38.25m in the January-September period of 2020, against a net profit of EGP32.58m in the corresponding period a year earlier, according to statements filed on the Egyptian Exchange.

Sinai Cement reports net loss in 9M20

16 November 2020, Published under Cement News

Egypt’s Sinai Cement has announced that its standalone net loss widened to EGP421.4m (US$26.95m) in the first nine months of 2020, against a loss of EGP311.2m in the year-ago period. However, the company’s net sales rose 5.2 per cent YoY to EGP588.7m from EGP559.8m in the 9M29.

Egypt sees demand rise 10% MoM

28 October 2020, Published under Cement News

Egypt saw total cement sales decline 12.5 per cent YoY to 3.8Mt, including exports, in September, according to Daily News. However, this represents a 10 per cent increase MoM and is the highest monthly cement demand since April 2020. The average industry utilisation rate stood at around 56 per cent in September. Sinai Cement was the best performer in terms of volumes, which increased three per cent YoY. Suez Cement reported sales of 617,000t, up 28 per cent MoM, while Arabian Cement sa...

Ciments de Bizerte resumes bulk exports by sea

26 October 2020, Published under Cement News

Tunisia-based Ciments de Bizerte announced it is resuming bulk cement exports by sea from the Port of Bizerte. The first ship was loaded with bulk cement destined for the Libyan market. The company has invested in new loading and unloading facilities.

Carthage Cement sees reduced COVID-19 impact on 3Q results

21 October 2020, Published under Cement News

Tunisia-based Carthage Cement reported a less severe impact of the COVID-19 pandemic on its turnover in the third quarter of 2020. The company’s turnover fell by six per cent to TND172m (US$63m) from TND183m in the 3Q19. In the 2Q20 turnover had fallen by 16 per cent due to the pandemic. Turnover in the domestic market increased six per cent YoY to TND151m when compared with the 3Q19 turnover of TND143m. Exports declined to TND1.193m when compared with TND1.225m in the 3Q19. However, del...

LafargeHolcim Maroc voted Top Performers for CSR

19 October 2020, Published under Cement News

LafargeHolcim Maroc was named Top Performers for Corporate Social Rrsponsibility (CSR) 2020 by Vigeo Eiris, the independent rating agency in the areas of environment, social and governance. Vigeo honoured LafargeHolcim Morocco for its performance in terms of environmental strategy and protection of biodiversity, continuous improvement of health and safety conditions at work, prevention of discrimination and promotion of gender equality, and also its contribution to the socio-economic d...

South Valley Cement sees net loss contract in the 1H20

19 October 2020, Published under Cement News

Egypt’s South Valley Cement has seen its net loss contract to EGP69.82m (US$4.45m) in the 1H20, compared with EGP100.82m in the 1H19. However, in the 2Q20 sales declined 21.5 per cent YoY to EGP196m from EGP249.67m in the corresponding period of 2019.