Cement News tagged under: Qena Cement

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Qena Cement's 1Q20 cement sales surge to EGP47m

10 June 2020, Published under Cement News

Qena Cement reports net profits surged to EGP47m (US$2.9m) in the 1Q20, compared to EGP12m for the same period of the preceding year. Standalone net sales revenues grew by 5.5 per cent in the quarter, while net debt shrank by 20 per cent, falling from EGP607m to EGP485m, compared to 1Q19. The group has successfully increased its consolidated net sales revenues by 2.6 per cent, marking EGP816m in the 1Q20, versus EGP795m for the same period of the preceding year. Net sales revenues climbed t...

Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries

06 October 2015, Published under Cement News

Egyptian investment company Qalaa Holdings announced Monday that it received a preliminary acquisition offer from Qena Cement to buy stakes in both its subsidiaries ASEC Minya and ASEC Ready Mix Concrete. According to the offer terms, Qena Cement t is seeking to acquire 46.5 per cent stake and 55 percent stake in ASEC Minya and ASEC Ready Mix Concrete respectively. Qalaa owns indirect stakes of 24.1 per cent and 28.5 per cent in both ASEC Minya and ASEC Ready Mix Concrete respectively. Me...

Qalaa Holdings first-half revenues up by a third, Egypt

23 September 2015, Published under Cement News

Qalaa Holdings (formerly Citadel Capital) released its consolidated financial results for the quarter ending 30 June 2015, reporting revenues of EGP2086.8m, up 33.7 per cent compared to the same quarter of last year. In the second quarter alone, the energy and cement divisions contributed some 70 per cent of total revenues.   On a six months basis, revenues climbed 37.8 per cent YoY in 1H15 to EGP4,034.3m. EBITDA meanwhile stood at EGP565.1m in the first half of 2015, a 169 per cent increa...

FLSmidth wins Egyptian cement plant contract

05 March 2015, Published under Cement News

FLSmidth has received two contracts from the Egyptian cement producer Qena Cement for supply of equipment for a cement plant which was originally supplied by FLSmidth. The cement plant is located approximately 45km from Luxor in Egypt. The equipment to be supplied includes among others an ATOX© coal mill, an OK© vertical cement mill, Pfister© weighing and dosing systems, MAAG Gear© reducers and Airtech filters. "We are very happy to supply this additional equipment to an existing customer...

Egypt: Qena Cement sees 15.3% rise in net profit

20 February 2015, Published under Cement News

Qena Cement posted a 15.28 per cent rise in 2014 net profit, according a stock exchange filing on Thursday. Full-year profit came it at EGP312.91m (US$41m), up from EGP271.436m a year earlier.

Egypt: Qena Cement 1H profit rises 14% YoY

24 July 2014, Published under Cement News

Egyptian cement producer Qena Cement’s first-half net profit increased by 14 per cent YoY to EGP165.3m (U$23m) compared with EGP144.9m a year earlier. The company’s sales for the six months to the end of June 2014 rose 25 per cent YoY to EGP559m. In other news, the company’s board has agreed to convert to using coal as an energy source at an investment cost of around EGP400m.

ASEC wins renewal of technical management agreement, Egypt

02 October 2012, Published under Cement News

ASEC Holding has signed a technical management agreement with Misr Qena Cement for a second 10-year period. “We are very pleased to have won renewal of this contract, as we feel that this is a clear endorsement of 10 years’ hard work by ASEC Engineering in Qena,” said ASEC Engineering Chief Executive Officer Mohamed Galal Yakout. “We are looking forward to another decade of providing outstanding service to a trusted business partner.” The award was the result of a limited closed-envelope t...