Cement News tagged under: Votorantim Cimentos

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Votorantim Cimentos sees net revenue up 9% in 1Q20

22 May 2020, Published under Cement News

Votorantim Cimentos' financial statement for the period ended 31 March 2020 reported net revenue up nine per cent to BRL2747m (US$494.6m) from BRL2524m in the 1Q19, while adjusted EBITDA fell to BRL232m from BRL586m in the 1Q19. Group cement volumes declined slightly to 6.3Mt from 6.4Mt in the year-ago period. Net revenues in Brazil in 1Q20 rose to BRL1563m from BRL1536m in 1Q19. Positive market dynamics were seen before the outbreak of COVID-19 in March. However, the expansion project at ...

Moody's changes outlook for Votorantim Cimentos

31 March 2020, Published under Cement News

The outlook for Brazil’s Votorantim Cimentos has been downgraded from positive to negative by Moody’s Investors Service. However, the Ba1 rating for the company has been affirmed.  The credit ratings agency has also downgraded the outlook for Votorantim Cimentos’ subsidiary St Marys Cement to negative from positive.

Votorantim Cimentos records 3% rise in 2019 revenue

27 March 2020, Published under Cement News

Brazil-based Votorantim Cimentos has seen a three per cent rise in consolidated net revenue to BRL13bn (US$2.61m) in 2019, compared to BRL12.6bn recorded in the previous year. Consolidated EBITDA saw a modest increase of one per cent YoY to BRL2.7bn from BRL2.6bn, with a margin of 20 per cent (21 per cent in 2018). Brazil Net revenue in the company’s domestic market was up four per cent from BRL6.6bn in 2018 to BRL6.8bn in 2019, mainly due to higher volumes and prices in the cement market...

Votorantim Cimentos to install distribution centre in Uberaba

20 March 2020, Published under Cement News

Brazil-based Votorantim Cimentos has announced plans to build a distribution centre in Uberaba, Minas Gerais, Brazil. The new centre will have storage space of 2000m2 and will serve the Uberaba region and a radius of 100km. The unit is expected to be operational in the 2H20 and provide improved and faster services for the region’s customers.

Votorantim Cimentos reports positive 2Q net results

26 September 2019, Published under Cement News

Votorantim Cimentos saw its consolidated net revenues from goods sold and services rendered increase 3.7 per cent to BRL5.822bn (US$ 1.403bn) in the first half of 2019 when compared with the 1H18 when net sales reached BRL5.612bn, according to a company statement. However, as cost of goods sold and services rendered was up 5.8 per cent from BRL4.724bn in the 1H18 to BRL4.997bn in January-June 2019, gross profits were down 7.1 per cent from BRL888.1m in the 1H18 to BRL825.3m in the January...

Votorantim creates new unit to assist alternative material co-processing

17 September 2019, Published under Cement News

Brazil’s Votorantim Cimentos has created a new business unit, named Verdera, to manage and provide services throughout the co-processing chain of alternative materials used in cement production. The company announced an investment plan of BRL400m (US$98m) to develop the unit over the next four years. The goal of Verdera is to offer waste disposal services to different companies and industries. Furthermore, the company plans to increase its petcoke substitution rate from 25 per cent to 80...

Votorantim: solid but flexible

28 August 2019, Published under Cement News

Brazil’s largest cement producer and a key international player, Votorantim Cimentos embraces the concept of being a solid company that is responsive to change. New global CEO Marcelo Castelli speaks with ICR about expectations for the markets in which it operates, changes to its business model in terms of portfolio diversification, and achievements under the company’s strong commitment to sustainablity and tackling climate change. Marcelo Castelli, Votorantim Cimentos’ new global CEO...

Votorantim Cimentos records 6% net revenue rise

06 June 2019, Published under Cement News

Brazil's Votorantim Cimentos has reported a 5.5 per cent YoY rise in net revenue to BRL2524m (US$654.5m) for the first quarter of 2019. The increase was attributed to the results of its Brazilian and other Latin American operations, combined with the positive effect of the real’s depreciation against the US dollar. The company’s adjusted EBITDA surged 179.9 per cent to BRL586m from BRL214m, while its EBITDA margin advanced to 23 per cent from nine per cent. The most significant growth in E...

Votorantim acquires New York ready-mix and aggregates business

21 March 2019, Published under Cement News

US-based ready-mix concrete, aggregates and building materials supplier United Materials has been acquired by Votorantim  Cimentos North America. Located in Depew, New York, United Materials has 140 employees and operates four ready-mix plants, one aggregate quarry and two building supply retail outlets in the region. Peter J Romano Jr, executive general manager of United Materials, said the new ownership "brings a wealth of experience in our business and a long history in North America. T...

Votorantim Cimentos sells 75% share in Shree Digvijay Cement

13 November 2018, Published under Cement News

Votorantim Cimentos has agreed the sale of its 75 per cent stake in Shree Digvijay Cement Co Ltd (SDCCL) to Indian private equity firm True North. The sale requires the completion of a mandatory open offer to the minority shareholders of SDCCL. The acquisition would add to True North's other investments in the building materials sector namely, RDC Concrete (“RDC”), a manufacturer of ready-mix concrete and Robo Silicon (“Robo”), a manufacturer of construction aggregates. Srikrishna Dwaram, ...