Cement News tagged under: Sinai Cement
Sinai Cement sees sales surge in 202304 April 2024, Published under Cement NewsEgypt’s Sinai Cement has reported a surge in sales, with EGP4.28bn (US$90.68m) posted for 2023, compared to EGP2.34bn in the previous year. A consolidated net loss after tax of EGP121.42m was seen in 2023, down from EGP330.41m in 2022, while the loss per share of the holding company fell from EGP2.48 in 2022 to EGP0.91 in the following year. On a standalone basis, the net loss after tax contracted from EGP319.8m in 2022 to EGP117.58m in 2023. |
Sinai Cement cuts consolidated loss by 22% YoY in 1H2316 August 2023, Published under Cement NewsSinai Cement Co posted a 22.12 per cent YoY drop in consolidated net loss attributable to the holding company for the 1H23, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on 15 August. The company incurred a consolidated net loss excluding minority interest of EGP79.719m (US$2.58m) in 1H23, down from a net loss of EGP102.359m in 1H22. Net sales stood at EGP2.363bn in the period from 1 January until 30 June of this year, up from EGP1.025bn i... |
Sinai Cement narrows 1Q loss30 May 2023, Published under Cement NewsEgypt-based Sinai Cement Co , part of Vicat , saw consolidated net losses after tax of EGP58.47m (US$1.89m) in the first quarter of 2023, compared with losses of EGP67.19m in the 1Q22. The company’s sales reached EGP1240m in the 1Q23, representing a 160.7 per cent increase on EGP475.57m in the year-ago period. |
Vicat increases stake in Sinai cement14 December 2022, Published under Cement NewsFrance-based Vicat SA has increased its stake in Egypt’s Sinai Cement from 51 per cent to 67 per cent. According to Reuters, Vicat bought additional shares worth US$5.65m from separate investors on 13 December 2022. Shareholder Arab Industrial Investment reportedly sold its 6.6 per cent share for US$2.29m. Vicat reported consolidated sales of EUR2697m in the 9M22, up 15.7 per cent YoY at constant scope and exchange rates. The growth came on the back of solid sales improvements in all r... |
Sinai Cement reduces 1Q loss01 June 2022, Published under Cement NewsEgypt-based Sinai Cement , owned by Vicat , has posted consolidated net losses after tax of EGP67.19m (US$3.6m) in the first quarter of 2022, an improvement when compared with the year-ago period when losses reached EGP147.97m. Standalone losses were reduced YoY to EGP66.25m from EGP146.23m. Revenues increased to EGP475.57m in the 1Q22 from EGP282.62m in the 1Q21, according to a bourse filing on 31 May. |
Sinai Cement reports 67% rise in net sales30 November 2021, Published under Cement NewsEgypt’s Sinai Cement saw its consolidated net loss contract to EGP323.3m (US$20.58m) in the first nine months of the year, compared with EGP425m in the year-ago period. Consolidated net sales advanced 67.3 per cent YoY to EGP984.8m from EGP588.7m in the 9M20. |
Sinai Cement sees net sales rise 34% YoY18 June 2021, Published under Cement NewsEgypt’s Sinai Cement has seen its net loss widen to EGP147.97m (US$9.45m) in the first quarter of 2021, compared to EGP105.8m in the year-ago period. However, net sales increased 33.5 per cent YoY to EGP282.63m from EGP211.73m in the 1Q20. |
Egypt's cement sector sees sales rise 15% YoY15 April 2021, Published under Cement NewsEgypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco... |
Sinai Cement reports net loss in 9M2016 November 2020, Published under Cement NewsEgypt’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% MoM28 October 2020, Published under Cement NewsEgypt 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... |