Cement News tagged under: Titan

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Cementarnica Usje sees 10% net profit fall in 9M17

06 November 2017, Published under Cement News

Titan-owned Cementarnica Usje of Macedonia reported a net profit fall of 10 per cent YoY to MKD865.9m (US$16.4m) in the first nine months of 2017. The company’s operating revenue rose three per cent YoY to MKD3.44bn, said the cement producer in a bourse filing. Operating expenses increased eight per cent  to MKD2.46bn when compared with the year-ago period. Usje’s financial revenue rose by 14 per cent YoY to MKD19.1m, while financial expenses were MKD8.5m, up from MKD1.5m a year earlie...

Dangote sets eyes on PPC Group

11 September 2017, Published under Cement News

Aliko Dangote is considering counter offers for the PPC Group and as such could spark a bidding contest for South Africa’s largest cement producer, reported The Star who quoted people close to the subject. Dangote Cement sees the bid as a way to accelerate its pan-African expansion, but the company is only one of several companies keeping a close eye on the bidding. PPC has already received one rival offer to the AfriSam Group bid from Canada-based Fairfax Financial Holdings and both bids...

Titan FY16 results bring net profits of EUR278.6m

23 March 2017, Published under Cement News

Titan Group's 2016 financial results recorded a significant improvement in profitability, thanks to the continuing growth of the US market and the recovery of results in Egypt. Consolidated turnover reached EUR1509m, posting an eight per cent increase compared to 2015. EBITDA increased by 28.7 per cent to EUR278.6m while net profit after minority interests and tax provision, stood at EUR127.4m, compared to EUR33.8m in 2015. In the fourth quarter of 2016, the group maintained the stro...

Macedonia: Cementarnica Usje non-cons net profit falls 5% in 2016

17 March 2017, Published under Cement News

Macedonia’s Cementarnica Usje, a subsidiary of Greece-based cement producer Titan, saw a five per cent YoY decrease in its non-consolidated net profit to MKD1.2bn (US$20.7m) in 2016 as a result of higher production costs. Non-consolidated operating expenses increased four per cent YoY to MKD3.14bn while operating revenue remained stable at MKD4.43bn. Operating profits fell six per cent to MKD1.3bn when compared with 2015. Financial revenues advanced 15 per cent to MKD23.4m while financ...

Titan America’s Pennsuco Plant receives Zero Waste certification

18 January 2017, Published under Cement News

Titan America’s Pennsuco Complex received its Gold Level Zero Waste Facility, making it the only facility of its kind in the USA to achieve Zero Waste Status. Randy Dunlap, President of Titan America's Florida Business Unit, commented, "The Zero Waste Certification is a remarkable accomplishment and consistent with Titan America’s commitment to striving for best-in-class sustainability practices. Congratulations to our Environmental Department and thanks to everyone at Pennsuco for their ...

Titan's US business continues to advance

29 July 2016, Published under Cement News

Titan's first-half turnover improved by 7.6 per cent to EUR723.8m and EBITDA was ahead by 13.5 per cent to EUR119.5m. Following an increase in the depreciation charge of a modest 6.7 per cent, the trading profit improved by 21.4 per cent to EUR59m. After a net financial charge 6.2 per cent higher at EUR34.7m and other items, notably foreign exchange, the pretax profit dropped from EUR30.9m to EUR7.4m. At the net attributable level, the profit declined from EUR24.4m to EUR9.2m. Capital inves...

Titan performs strongly in the USA

06 November 2015, Published under Cement News

Titan's turnover improved by 18.9 per cent to EUR1029.5m in the first nine months of 2015 and EBITDA was up by 12.6 per cent to EUR165.2m, though in the third quarter EBITDA was ahead by just 3.8 per cent, reflecting the weakness in Greece. The trading profit for the nine months was 17.9 per cent higher at EUR80.5m and, after a 14.6 per cent increase in net financial charges and a positive contribution from associates of EUR3.8m as well as a reduced foreign exchange gain, the pre-tax prof...

Titan's US business continues to advance strongly

31 July 2015, Published under Cement News

Titan's first-half turnover improved by 19.9 per cent to EUR672.8m, helped by exchange rate movements, and EBITDA was ahead by 18.3 per cent to EUR105.3m. Following an increase in the depreciation charge of a modest 6.3 per cent, the trading profit improved by 35.4 per cent to EUR48.6m. After a net financial charge 10.1 per cent higher at EUR32.7m and other items, the pretax profit jumped from EUR6.7m to EUR30.9m. At the net attributable level the profit jumped from EUR2.9m profit to EUR24.2...

Titan achieves better results in USA and Greece

08 May 2015, Published under Cement News

Titan's first-quarter turnover improved 12.7 per cent to EUR283.8m and EBITDA declined by 23.7 per cent to EUR23.2m. The company posted a pretax profit of EUR7.6m versus a loss of EUR9.7m a year earlier, while the net attributable profit of EUR6.6m compared with a loss of EUR11m. Net debt at the end of March, however, was up by 22 per cent to EUR660m, giving a gearing level of 42.2 per cent, compared with 38.5 per cent a year earlier. Group cement shipments increased by four per cent t...

Macedonia: Usje's unconsolidated net profit falls

11 March 2015, Published under Cement News

Macedonia's sole cement producer Usje said on Tuesday its unconsolidated net profit fell five per cent to MKD1.46bn (EUR23.7m) in 2014. Operating revenue rose two per cent to MKD4.12bn last year, while operating costs were two per cent lower at MKD2.56bn, Usje said in an unconsolidated financial statement filed with the Macedonian Stock Exchange. Usje is owned by Greek building materials manufacturer Titan Cement.