Cement News tagged under: Suez Cement

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Suez Cement reports impact of wastewater flood

15 March 2019, Published under Cement News

Suez Cement has announced that its Kattameya plant has been seriously affected by the collapse of a soil barrier around one of the wastewater ponds of a treatment station that serves New Cairo. The incident resulted in the flooding of 1.5Mm 3 of treated wastewater, which has damaged part of the plant's limestone belt by removing it from its base. Furthermore, power cables were cut, light posts damaged and an asphalt road was demolished as it sank in the water. In a statement to the Egypti...

Suez Cement returns to profitability in 2018

07 March 2019, Published under Cement News

Egypt’s Suez Cement reported a net profit of EGP121.43m (US$6.95m) in its full-year 2018 consolidated results, compared with a loss of EGP1.13bn in the previous year. Sales increased 14.9 per cent YoY to EGP7.42bn from EGP6.46bn. The company’s standalone profit also increased to EGP199.86m for 2018, against a loss of EGP441.79m in 2017.

Suez Cement reports 2Q loss

15 August 2017, Published under Cement News

Egypt-based Suez Cement reported losses during the second quarter of 2017 YoY, according to a bourse filing on Monday. Losses amounted to EGP82.15m (US$4.6m) in 2Q17, versus profits of EGP49.43m in 2Q16. The cost of sales rose to EGP1.48bn in 2Q17, compared to EGP1.19bn YoY. In the first half of 2017, consolidated losses reached EGP40.61m, versus profits of EGP53.76m in 1H16, taking minority rights into consideration. Stand-alone profits dropped to EGP20.82m in 1H17 from EGP124...

Egypt: Suez Cement to boost Helwan productivity

06 March 2017, Published under Cement News

Chairperson of the Suez Cement Company, Omar Mohanna, has said that Suez Cement Company aims to boost productivity at Helwan Cement after completing its plan to convert the plant to run on coal. He added that the company aims to diversify energy sources to avoid the negative impacts of fuel price surges. The Suez Cement Company began using coal in its factories in Katameya and Suez, with plans in the pipeline to convert the Helwan and Torah kilns to gas firing.

Egypt: Suez Cement reports deepening net loss

02 March 2017, Published under Cement News

Suez Cement has reported a deepening net loss of EGP629.3m (US$33.8m) for 2016. This compares with EGP100.8m reported in 2015. Part of HeidelbergCement following its Italcementi acquisition, Suez Cement is the largest cement producer in Egypt. The company operates some 14.8Mta of grey cement capacity in its Tourah, Helwan, Kattameya and Suez plants as well as a 1Mta white cement plant at El Minya.

Egypt sets out on a new course

05 September 2016, Published under Cement News

President Abdel Fattah al-Sisi has managed to return a certain degree of stability to Egypt, with the economy expected to show a gradual recovery. A broad infrastructure programme and robust housing demand is providing the foundation for a strong growth in construction, while the government is calling for the cement industry to increase its capacity. The urgent need to expand Egypt's inrastructure and deal with the considerable housing shortage are expected to drive cement demand f...

Egypt: Suez Cement ranked bottom

27 June 2016, Published under Cement News

Egyptian company Suez Cement has ranked in the bottom quartile of the country’s performers for the year just passed. The company’s performance saw it ranked 144/144 in the BSS News Bites ranking for Egypt, a percentile ranking of zero. Alongside this low ranking, Suez Cement’s shares also fell 66.8 per cent for the year ended 26 June 2016. Five years ago share price stood at EGP38.75 and fell over the next two years to EGP21.00. Two years ago the company saw its share price rise again to ...

Suez Cement hit by Egyptian pound devaluation

13 May 2016, Published under Cement News

In its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects, and small and mid-sized private sector initiatives. Better energy availability allowed the company...

Suez Cement working to limit impact of Egypt's dollar shortage

14 March 2016, Published under Cement News

Suez Cement, a unit of Italy’s Italcementi SpA, is working to minimise the impact of Egypt’s dollar shortage on its operations and has no plans to “withdraw” from the country, Managing Director, Bruno Carre, said. “We are doing what we can to finance our operations locally and to work with local suppliers while getting extended credit facilities from our international suppliers and our group,” Carre told Bloomberg News. “Our key priority is to maintain our operations and to minimise the out...

Suez Cement plans to complete coal conversion project by end-2016, Egypt

08 January 2016, Published under Cement News

Suez Cement, part of the Italcementi group, plans to complete its preparations for coal usage at its plants by late 2016, local press reported, citing chairman Omar Mehanna Wednesday. The conversion process involves an investment of around US$110m. Mr Mehanna further told Amwal Al Ghad business magazine that Suez Cement had completed the conversion for coal usage at two plants out of five during 2015. The company aims to use coal as an alternative energy source for the production of cemen...