Cement News tagged under: Pricing

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Dangote: a paradigm shift

06 April 2016, Published under Cement News

ICR took the opportunity to meet with Dangote Cement’s new CEO, Onne van der Weijde, during the recent Cemtech Middle East & Africa conference in Dubai. The former area manager for Holcim with responsibility for the company’s Indian operations, Mr van der Weijde is now at the helm of Dangote Cement alongside DVG Edwin who remains in charge of new projects. Here he gives an optimistic account of Dangote’s ambitious strategy for Africa, where the company is now targeting a total capacity of 75...

Dangote Cement

29 March 2016, Published under Cement News

Dangote Cement has reported a 14 per cent rise in profit in 2015, up from NGN159.5bn (US$801m) in 2014 to NGN181.32bn (US$910m), driven by new plants and price reductions. The last two years have seen the company open six new facilities across Africa, all of which have performed well, increasing sales volumes by 35 per cent as well as gaining valuable market share.  September 2015 saw Dangote implement a price cut in its home market of Nigeria to boost consumption and compete with imports...

CRC attributable profit drops 76% YoY

15 March 2016, Published under Cement News

China Resources Cement (CRC) said its profit attributable to owners for the year ended 31 December 2015 dropped 75.9 per cent YoY to HKD1015m (US$130.8m). Turnover was HKD26,779m, a decrease of 18 per cent from a year earlier. The consolidated gross margin was 24 per cent, representing a decrease of 7.3 percentage points from 31.3 per cent for 2014. The average selling price of cement last year was HKD269.9/t, down 20.2 per cent over 2014. The company noted that during 2015, demand for ...

Israel: government notifies Nesher on price cut

29 February 2016, Published under Cement News

The government of Israel has notified Nesher Cement Enterprises Ltd that it must cut prices due to lower-priced inputs, local press have reported. Following a drop in the prices of raw materials for making cement, mainly oil prices, the Ministers of Finance and the Economy notified Nesher Israel Cement Enterprises Ltd of a 5.35 per cent cut in the price of cement. The revision was according to a procedure stipulated in the arrangement with Nesher signed in September 2014. The Ministry of F...

CMA consults on draft GB cement market data order and undertakings

29 February 2016, Published under Cement News

The Competition and Markets Authority (CMA) is consulting on measures to restrict the disclosure and publication of Great Britain cement production and sales volume data. The measures are contained in two documents: the draft Cement Market Data Order and the draft final undertakings. The order proposes to restrict the disclosure and publication of production and sales volume data by cement producers in Great Britain. In addition, the CMA proposes to accept the final undertakings offered by ...

Higher cement volumes drive Elementia’s 4Q and full-year revenue growth

26 February 2016, Published under Cement News

Mexico-based Elementia reported consolidated revenues for 4Q15 rose by five per cent YoY to MXP4.02bn and by 11 per cent over the full year to MXP15.33bn, mainly due to higher volume sold by its cement division. In line with management expectations, revenues from the cement business for the full year totalled MXP2.37bn, a 36 per cent increase compared to MXP.175bn a year earlier. This was mainly due to price and volume increases of 13 and 20 per cent, respectively, when compared to the sam...

CMA publishes final cement price announcement order

26 January 2016, Published under Cement News

The Competition and Markets Authority (CMA) has published its final order prohibiting cement suppliers in Great Britain from sending generic price announcement letters to their customers. The CMA first consulted on the proposed order in September 2015 and following changes made as a result of responses received, consulted on an amended version in December. The order sets out that suppliers of cement and cementitious products in Great Britain (GB) will be prohibited from sending generic pri...

China: BBMG Corp expects lower profit on weaker cement demand and pricing

15 January 2016, Published under Cement News

China-based BBMG Corp said it expects to record a 10-22 per cent decrease in net profit attributable to shareholders for the year ended 31 December 2015 compared to a year earlier. The fall in net profit is mainly attributed to the slowdown in macroeconomic growth and cement production overcapacity in the areas where the group operates, leading to sluggish demand and reduced selling prices versus 2014. Therefore, it recorded a significant decrease in the operating results for its cement seg...

China Resources warns of significant decrease in full-year attributable profit

14 January 2016, Published under Cement News

China Resources Cement said it expects profit attributable to the owners for the year ended 31 December 2015 to significantly decrease as compared with that of the previous year. Such decrease is primarily attributable to the lower selling prices of cement and clinker in China in 2015 as compared with those in 2014. It is also due to the depreciation of the yuan against other currencies since the beginning of the third quarter in 2015, resulting in exchange loss generated from non-yuan deno...

Steppe Cement Ltd preliminary update to 31 December 2015

14 January 2016, Published under Cement News

Steppe Cement Ltd recorded revenue for the year ended 31 December 2015 of KZT19,537m (US$54m), which was seven per cent lower than the KZT20,925m recorded in the corresponding period of 2014. Sales volumes reached 1.6Mt, an improvement of two per cent YoY. The average price (ex-VAT) for delivered cement was KZT11,890/t in 2015, an eight per cent decrease compared with KZT12,975/t in 2014, mostly due to price pressure from Russian imports until the KZT devaluation in August 2015. For 2015,...