Cement News tagged under: Suez Cement

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Egypt: Suez Cement increases dividend payout

02 April 2014, Published under Cement News

Suez Cement, part of the Italcementi group, will pay a cash dividend of EGP2.65/share (US$0.38), it said in a statement published yesterday. The company said it would make the payment in two phases. EGP1/share will be distributed in April, and the remainder of EGP1.65/share  in September. Last year, Suez Cement paid a cash dividend of EGP1.65/share, according to Thomson Reuters data.

Suez Cement quarterly profit drops on demand, energy shortages

01 November 2013, Published under Cement News

Suez Cement reported a significant decline in earnings and profit for the third quarter of 2013 due to lower sales and reduced output on the back of energy shortages. The company, which is part of the Italcementi group, said third quarter EBITDA plunged 42 per cent YoY while net profit fell 72 per cent. Domestic sales of grey cement were down 5.2 per cent during the period. Following such challenging times, Suez Cement expects improvements in cement demand going forward: "The company i...

Suez Cement six-month net profit ahead, Egypt

12 August 2013, Published under Cement News

Suez Cement has reported a 34 per cent increase in first-half net profit thanks to cost reduction and efficiency improvement efforts. In the second quarter of 2013, net sales of Suez Cement Group of Companies reached EGP1302m (US$, up 11 per cent YoY while recurring EBITDA rose 18 per cent YoY to EGP315m. Net profit increased to EGP168m. Grey cement sales were down by four per cent to “close to 26Mt”, the company said. The industry suffered from continuing energy shortages and steep en...

Suez Cement production scaled back 30% due to energy shortages

10 April 2013, Published under Cement News

Egypt-based Suez Cement said that it scaled back production by as much as 30 per cent last year due to a lack of fuel supplies.  "A lack of fuel supplies has cut our annual production of 12Mt by between 20-30 per cent since the start of the year," Mohamed Shanan, director of business development of Suez Cement, told Reuters. In terms of fuel price hikes, Mr Shanan told reporters at a recent energy conference that: "Any increase in (fuel) prices must be matched by an increase in cement ...

Suez Cement to invest US$40m in environmental upgrade and fuel adjustments

22 November 2012, Published under Cement News

Suez Cement is planning to invest around US$40m over the next couple of years to enhance environmental performance at its plants as well as switching partly to coal and refuse, according to Alborsa newspaper.  Suez Cement managing director Bruno Carre said that the company is considering a number of investment opportunities in the Egyptian market in light of recent political and economic developments. In 2012, the company invested around EGP300m while total investments by the parent co...

Suez Cement delays new lines, Egypt

02 July 2012, Published under Cement News

Egypt-based Suez Cement has delayed a EGP1.5bn (US$248m) capacity expansion, Al Alam Al Youm reported, citing Managing Director Bruno Carrea. The company has postponed additional production lines at its factory in Ein El Sokhna for a year or two because of political unrest, the newspaper cited Carrea as saying. (Source: Bloomberg)

Suez Cement strike action, Egypt

21 March 2012, Published under Cement News

Egyptian cement producer, Suez Cement, said that workers in two of its factories started strike action on 14 March. The strike has halted shipping at the Suez and Katamiya plants, although production has not been affected. (Bloomberg)

Suez Cement reports 54% decline in 2011 net profit

24 February 2012, Published under Cement News

Suez Cement of Egypt posted a 54 per cent decline in 2011 due to political unrest and uncertainty.  Net income fell to EGP568.6m (US$94m) from EGP1.24bn in 2010, the company said. With visibility in the Egyptian market still fairly poor, the company said in a statement to the Egyptian bourse: “The outlook is still very uncertain in the current political context and before a stable government can be established.”