Cement News tagged under: Titan Cement Co
9M16 results see upturn in the US and Egypt04 November 2016, Published under Cement NewsSeveral cement companies released their 9M16 results this week. While the US and Egypt provided a healthy boost to business results for companies such as Titan Cement Group, in Asia and the Middle East returns were less positive. Titan Cement Group released its 9M16 results this week and relied on its Egyptian and US operations to boost its turnover, which climbed to EUR1124m, up 9.2 per cent on the same period in 2015. Several cement producers have seen good margin improvement in Egypt ... |
Titan to take on Brazilian challenge05 August 2016, Published under Cement NewsTitan Cement Group made an unexpected move this week, buying into Cimento Apodi in Brazil. The Greek-based multinational will form a joint venture t o operate the business with the Dias Branco Group and Titan/Sarkis, Sarkis being a vehicle company 94 per cent owned by Titan. Cimento Apodi, situated in Ceará, northeast Brazil, operates the 1800tpd Quixeré cement plant as well as a 0.36Mt grinding unit at Pecém port, near Fortaleza. Some 2Mta of cement production will be added to Titan’s mu... |
Titan Cement takes US$100m stake in Brazil's Cimento Apodi04 August 2016, Published under Cement NewsGreece's Titan Cement Group has announced that it is to take a 50 per cent equity stake in Companhia Industrial de Cimento Apodi of Brazil. The deal will see Titan invest an estimated US$100m to become joint owner of the company alongside Brazilian conglomerate the Dias Branco Group. Both organisations will acquire a 50 per cent interest in the cement producer. Cimento Apodi is based in the state of Ceará in northeastern Brazil and operates a grinding plant in Pecém and a new integrate... |
Titan 1Q16 results boosted by US growth13 May 2016, Published under Cement NewsTitan Group posted robust growth in sales and operating performance in 1Q16, primarily on the back of the US market, as well as the improved operation of the plants in Egypt. Consolidated turnover reached EUR337.8m, posting a 19 per cent increase compared to the same period the previous year. EBITDA increased by 86 per cent reaching EUR43.3m. Net profit after minority interests and the provision for taxes were negatively impacted by foreign exchange translation effects, particularly thos... |
Titan's US profits more than double11 March 2016, Published under Cement NewsTitan's turnover rose by 20.7 per cent in 2015 to EUR1397.8m and EBITDA improved by 19.2 per cent to EUR216.4m. Following an 24.4 per cent increase in the depreciation and impairment charge to EUR130.7m. boosted by a EUR11.6m impairment charge in the USA, the trading profit declined by 3.2 per cent to EUR108.9m. The net financial charge was 1.7 per cent higher at EUR66.8m while the foreign exchange gain was 43.9 per cent lower at EUR17.4m in the previous year. The pr-tax profit was 10 per... |
Egypt: residents' angry over Titan’s Alexandria emissions23 November 2015, Published under Cement NewsTitan's Alexandria cement plant is being investigated in terms of environmental concerns after local residents’ complaints. A complaint was filed on Sunday at the Alexandria Prosecution against the Portland cement factory, reported the Daily News Egypt. Local residents are worried about the use of coal at the 40-year-old plant in Wady Al-Qamar in northwest Alexandria. Hany A, one of the residents, said: "This is not the first time we wake up to this smell. We cannot even breathe. This hap... |
Titan suffers in Egypt, but improves elsewhere14 November 2014, Published under Cement NewsTitan’s turnover improved by 3.3 per cent to EUR879.7m in the first nine months of 2013, but EBITDA edged ahead by just 0.1 per cent to EUR146.7m. In the third quarter the EBITDA did decline by one per cent. The trading profit for the nine months was 0.7 per cent lower at EUR57.9m and, after a 6.9 per cent reduction in net financial charges and a positive contribution from associates of EUR3.6m, there was a pre-tax profit of EUR47.4m profit compared with a EUR1.1m loss. There was a net at... |
Macedonia: Cementarnica Usje net profit climbs 13% YoY12 November 2014, Published under Cement NewsMacedonia’s sole cement producer Cementarnica Usje AD Skopje said its net profit for the first nine months of 2014 climbed by 13 per cent to MKD1.25bn (EUR20.2m). Operating revenue rose six per cent to MKD3.1bn through the first nine months of this year, while operating costs remained flat at some MKD1.9bn, the company said in an unconsolidated financial statement to the Macedonian Stock Exchange. Usje is owned by Greek cement major Titan Cement, which releases its nine-month results t... |
Titan's Florida business advances strongly01 August 2014, Published under Cement NewsTitan's first-half turnover improved by 3.9 per cent to EUR571.2m while the EBITDA was ahead by just 0.8 per cent to EUR89m. Following a 10.3 per cent reduction in the depreciation charge, the trading profit improved by 23.5 per cent to EUR35.9m. After a net financial charge 11.9 per cent lower at EUR29.7m and other items, there was a pre-tax profit of EUR6.7m compared with a loss of EUR12.4m a year earlier. At the net attributable lever there was a EUR2.9m profit, compared with a loss of ... |
Titan: profits decline, other than in the USA28 February 2014, Published under Cement NewsTitan reported a four per cent improvement in turnover for last year to EUR1175.9m, having risen by 3.6 per cent in 2012. The US proved to be a particularly bright spot in 2013 for the company, while the rate of decline in its domestic market of Greece eased. Full-year EBITDA edged ahead by 0.1 per cent to EUR196.0m. Excluding exchange rate movements, turnover would have been ahead by 8.3 per cent and EBITDA by 6.4 per cent. With a 10.7 per cent reduction in the depreciation charge, th... |