Cement News tagged under: Philippines

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Vietnam's cement and clinker exports rise in August

17 September 2020, Published under Cement News

Vietnam exported 4.2Mt of cement and clinker worth US$148.3m in August, rising 31.4 per cent MoM in volume and 24.3 per cent in value, according to the General Department of Vietnam Customs. In the 8M20 the country exported 23.9Mt of cement and clinker worth US$882m, up 1.2 per cent YoY in value and 15.7 per cent in volume. China was the biggest buyer during this period, importing 12.6Mt worth US$415.5m. This accounted for 53 per cent of Vietnam’s cement and clinker export volumes and 47 ...

CRH sees EBITDA rise 2% in the 1H20

21 August 2020, Published under Cement News

CRH has released its unaudited results for the first half of 2020, showing a 4.9 per cent YoY decline in revenue to US$12.2bn from US$12.85bn in the 1H19. However, EBITDA edged up two per cent on a like-for-like (LfL) basis to US$1.59bn. Profit before tax for the 1H20 reached US$518m against US$717m last year, primarily reflecting a lower profit on divestments. "As a Group we took swift and comprehensive action in response to the COVID-19 crisis, and our ability to flex our cost base and ...

Siam Cement Group releases results for Philippine operations

20 August 2020, Published under Cement News

Thailand’s Siam Cement Group has reported a 39 per cent YoY decline in revenue to PHP5.34bn (US$109.7m) from its Philippine operations for the first half of the year, on the back of a weak performance in its building materials business, reports The Philippine Star. In the 2Q20, the company’s local operations posted a 53 per cent decrease in revenue to PHP2bn. The news follows the release of SCG’s overall results last week, which saw a 33 per cent YoY rise in profit for the second quarter...

Vietnamese export volumes rise 11% in the 7M20

18 August 2020, Published under Cement News

Vietnam exported 19.5Mt of cement and clinker worth US$732m in the first seven months of 2020, up 11.4 per cent YoY in volume but down 5.4 per cent in value, according to Dau Tu (Investment). In the seven-month period, the major export markets included China, the Philippines and Bangladesh. Last year, the Ministry of Construction forecast that Vietnam would sell 101-103Mt of cement and clinker in 2020, rising 4-5 per cent YoY, which would include 32-31Mt of exports. However, the predic...

Eagle Cement sees 61% decline in net profit

12 August 2020, Published under Cement News

Philippines-based Eagle Cement Corp has reported a 61 per cent YoY decline in net profit to PHP1.3bn (US$26.54m) for the first half of 2020, while net sales fell 44 per cent to PHP5.9bn. In the 2Q20 the company saw a drop in net profit to PHP128m from PHP1.7bn last year. Net sales also decreased 73 per cent YoY to PHP1.4bn. "These are very difficult times, but we remain confident that the economy will recover from this pandemic and emerge stronger. The government’s steady push for the co...

Cemex Philippines announces 22% decline in net sales

03 August 2020, Published under Cement News

Cemex Holdings Philippines has announced a 22 per cent decline in consolidated net sales to PHP9.6bn (US$195.6m) for the first half of 2020, while operating EBITDA was also down 22 per cent YoY to PHP1.8bn. Domestic cement volumes decreased by 17 per cent YoY during the 1H20 and domestic cement prices during both the second quarter and first half of 2020 were six per cent lower YoY. "The second quarter was very challenging for our company, with our volumes adversely impacted by quarantine...

Holcim Philippines expected to remain within group

23 July 2020, Published under Cement News

Following the lapse of sale agreement with San Miguel Corp earlier this year, Holcim Philippines is now expected to remain within LafargeHolcim, according to the company's CEO, John Stull, in an annual meeting on Wednesday. "We are very pleased to know that we are no longer in the sales process and we're very excited about the future working with one of the largest and most successful companies in the building material sector and we're happy to remain part of the group," said Mr Stull. Th...

Eagle Cement Corp will pursue expansion plans

21 July 2020, Published under Cement News

Eagle Cement Corp will pursue its expansion plans despite the impact of the coronavirus pandemic. Expansion-related capital expenditures will continue while spending for non-critical projects and activities "will be trimmed," said Eagle president and CEO, Paul Ang. "Our strong financial position will allow us to weather this health crisis battering the economy without giving up major components of our expansion plans, which will secure our future growth," Mr Ang said. For this year, Eagl...

Eagle Cement Corp aims to complete Bulacan expansion in 2020

16 July 2020, Published under Cement News

Philippine-based Eagle Cement Corp is now looking to complete its 2Mta Bulacan plant expansion before the year ends, following delays related to the COVID-19 pandemic. "This plant was supposed to have been turned over and commissioned this second quarter of this year. But because of the pandemic, management is committing to deliver this plant by end quarter of this year," said John Paul Ang, Eagle Cement president and CEO. The company’s CFO, Monica Ang, also noted that the company has r...

DG Khan Cement wins export orders from the Philippines

09 July 2020, Published under Cement News

DG Khan Cement Company Ltd has procured cement export orders from the Philippines. The order was confirmed by a Pakistan government adviser. "Congratulations to DG Khan Cement for making a breakthrough in winning orders for export of cement to the Philippines. This follows on their success in China," said Adviser to Prime Minister on Commerce, Abdul Razak Dawood, in a tweet on Wednesday. "Once market reach extends, then market share will increase. Increasing geographical diversification i...