Cement News tagged under: Results
Magnesita's first-half revenue rises 14%15 August 2017, Published under Cement NewsMagnesita Refratários SA, a global leader in refractory solutions and industrial minerals, recorded consolidated net revenue of US$552m in the first half of 2017, representing a 14 per cent YoY increase over the comparative period of 2016. Adjusted EBITDA reached US$91m in the 1H17, up by 13 per cent over 1H16, with a 16.5 per cent margin in the period. The performance was mainly driven by the 10.3 per cent increase in sales to the steel industry. Record in dead burnt magnesia sales, whic... |
Argos sees challenges at home14 August 2017, Published under Cement NewsCementos Argos announced a net income of COP48bn (US$16m) for the second quarter of 2017 as the US and central America/Caribbean helped to mitigate challenging dynamics in its home market of Colombia. Revenues were down by 1.6 per cent YoY and EBITDA fell by 15.9 per cent YoY to COP367bn. The US was the main contributor to both revenues (54 per cent) and EBITDA (47 per cent). Consolidated cement volumes increased by 17.9 per cent in the second quarter of 2017 to 4.1Mt. “The ... |
Fujairah Cement Industries reports 2Q decline14 August 2017, Published under Cement NewsUAE-based Fujairah Cement Industries Co posted a decline in its profits during the second quarter of 2017, according to a bourse statement. Net profits reached AED8.3m (US$2.26m) in 2Q17, compared to AED16.50m (US$4.5m) in 2Q16. The profit decline is mainly attributed to a decrease in its revenues by 16 per cent to AED138.03m in 2Q17 from AED164.20m in 2Q16. In 1H17 profits retreated 37.20 per cent to AED20.88m from AED33.25m in 1H16. |
Saudi's subdued second quarter11 August 2017, Published under Cement NewsThe Saudi Arabian cement industry is continuing to face headwinds with domestic producers reporting a tough second quarter amid the dual impact of lower cement demand and Ramadan season as well as weak price realisation. Welcome relief has come in the form of an increase in July sales and the potential effect of the government's decision to reduce cement export fees by half. Saudi cement producers reported subdued second quarter earnings as the industry has been affected by falling cement ... |
FLSmidth reports 11% rise in revenue10 August 2017, Published under Cement NewsFLSmidth reported an 11 per cent rise in revenue and a 25 per cent increase in EBITA in the 2Q17, driven by continued momentum in in orders from service activities. Consolidated order intake grew by five per cent in the three month period while revenue rose to DKK4585m from DKK4135m a year earlier. The growth was attributable to all divisions but Minerals, as mining capital investments remained soft despite a firmer sentiment and an improved order pipeline, the company said in a statement.... |
Kuwait Cement sees decline in quarterly profit10 August 2017, Published under Cement NewsKuwait Cement reported a decline of 37.1 per cent in profits to KWD4.38m (US$14.48m) in the second quarter this year compared to KWD6.96m (US$23.01m) in the same quarter a year ago. In the first half of 2017, the company posted a fall of 17.9 per cent in profits to KWD9.98m compared to KWD12.16m in 1H16, according to a bourse filing issued on Wednesday. The decrease in profits is attributed to a higher finance cost to the consolidated income statements by KWD154,430, as well as a drop... |
Arabian Cement Co profit down on lower sales and prices10 August 2017, Published under Cement NewsSaudi-based Arabian Cement Co on Wednesday announced a 74.8 per cent YoY decrease in its profits for the second quarter of 2017, attributing the drop to lower sales volumes and prices. Profits amounted to SAR35.5m (US$9.5m) in 2Q17, compared to SAR141m in 2Q16, according to statements to the Tadawul, the country's stock exchange. Profits tumbled 64.8 per cent QoQ. For the first half of the year, profits slid 62.9 per cent to SAR136.2m, from SAR366.6m in 1H16. |
Eagle posts flat 2Q earnings09 August 2017, Published under Cement NewsEagle Cement Corp of the Philippines reported a one per cent rise in earnings for the second quarter of this year as wet weather affected results. Net profit edged ahead to PHP1.9bn (US$37.5m) during the quarter versus PHP1.03bn a year ago, while net sales increased by six per cent to PHP3.71bn. "Historically second quarter is slower because of the rainy season," Eagle Cement President and CEO, John Paul L Ang, said in a press briefing, adding that the Easter Holy Week holiday occurred... |
Shanshui Cement expects first-half loss to narrow09 August 2017, Published under Cement NewsChina-based Shanshui Cement expects that the group will continue to record a net loss for the six months ended 30 June 2017. However, the loss is expected to narrow compared with the corresponding period of 2016 mainly due to the increase in average selling prices. In addition, the Jinan government is assisting the company to restructure the board of directors and senior management of Shandong Shanshui and to resolve the illegal occupation of the properties of Shandong Shanshui by its form... |
Tabuk and Al Jouf net profit dragged down by lower demand08 August 2017, Published under Cement NewsSaudi-based producers Tabuk Cement and Al Jouf Cement have reported a decline in second quarter net profit due in part to lower demand. Tabuk Cement, which operates a 1.2Mta plant in Duba, said net profit fell by 93.84 per cent YoY to SAR1.3m (US$346,619). Quarter-on-quarter, net profits fell 85.06 per cent. The smallest of Saudi’s established grey cement producers, Tabuk Cement attributed the decrease to lower demand and prices. In the first half of 2017, net profits declined 76.42 per c... |