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HeidelbergCement records 7% rise in group revenue for the 9M19

08 November 2019, Published under Cement News

HeidelbergCement has reported a seven per cent increase in group revenue to EUR14.3bn for the first nine months of 2019, compared with EUR13.4m in the year-ago period. Excluding consolidation and exchange rate effects, revenue advanced by four per cent YoY. Results from current operations before depreciation and amortisation rose by 17 per cent YoY to EUR2.6bn from EUR2.3bn in the 9M18. The company attributed the results to growth in sales volumes and successful price increases, which more...

Buzzi Unicem sees improved cement volume and stable in concrete

08 November 2019, Published under Cement News

Buzzi Unicem's turnover for the first nine months of 2019 was up by 13.4 per cent to EUR2423.6m, but ignoring exchange rate movements the increase would have been 9.9 per cent. Net debt at the end of September was EUR13.3m lower than a year earlier at EUR710.1m. Capital investment in the period was 19.2 per cent higher at EUR260.8m.  Cement deliveries were 5.7 per cent higher at 22.13Mt, while ready-mixed concrete deliveries advanced by just 0.4 per cent to 9.1Mm³. The Italian turnover wa...

Titan Cement Group's turnover rises by 9% in 3Q19

07 November 2019, Published under Cement News

Titan Cement Group's 3Q19 results saw consolidated turnover rise by 8.7 per cent compared to 3Q18, EBITDA rose by 15.4 per cent and net profit increased by 25.7 per cent. In the 9M19 consolidated turnover rose by 9.7 per cent to EUR1208.5m and EBITDA grew by 5.8 per cent to EUR208.4m. However, net profit declined by 9.9 per cent in 9M19 to EUR45.3m, because of depreciation charges, partly due to IFRS adoption and the consolidation of Turkey in full in 2019. Regional results In ...

Birla Corp sees 450% rise in net profit

06 November 2019, Published under Cement News

India's Birla Corp has seen a 450 per cent increase in net profit to INR880m (US$12.4m) in the 2QFY19-20, compared with INR160m in the corresponding period of the previous fiscal. Revenue advanced 10.9 per cent YoY to INR16.47bn, while EBITDA surged 61 per cent to INR3.32bn. The EBITDA margin climbed to 20.1 per cent from 13.9 per cent. The company has attributed the positive results to higher realisation from premium and blended cement sales, and cost rationalisation. Capacity utilisatio...

UltraTech Cement looks to divest Bangladesh asset

06 November 2019, Published under Cement News

India's UltraTech Cement has stated that its plan to divest non-core assets in China, the UAE and Europe, is progressing well. It has also announced that it is looking to exit the Bangladesh market. "We are also exploring opportunities to exit Bangladesh, where we have a small grinding unit of 0.6Mt. All the proceeds from these asset disposals will help bring down our leverage position further," said Atul Daga, CFO, following the company's 2Q earning announcement. The Bangladeshi unit i...

China sees 7% increase in cement output during the 9M19

05 November 2019, Published under Cement News

China's cement output stood at 1.69bnt in the first nine months of 2019, up 6.9 per cent YoY, according to the Ministry of Industry and Information Technology (MIIT). During the period, the sector’s total operating revenue increased 14.3 per cent YoY to CNY719.9bn (US$102.4bn). Combined profits surged 25.3 per cent YoY to reach CNY131.8bn in the 9M19. However, cement prices saw continuous drops during the Jan-Aug period, with the August cement price index falling 6.3 per cent from January.

EcoCementos commissions new 1.5Mta Colombian cement plant

01 November 2019, Published under Cement News

Empresa Colombiana de Cementos (EcoCementos) is today launching a greenfield cement plant capable of producing up to 1.5Mta of cement in the Magdalena Valley in Sonsón municipality in Antioquia, Colombia. EcoCementos' new Sonsón plant is officially operational EcoCementos is a joint venture between the Colombian building materials group Corona and the Spanish cement producer Cementos Molins. Both companies started working together in September 2015, with the contract signed one ...

Dangote Cement Group's unaudited 9M19 results see volumes rise 1.1%

31 October 2019, Published under Cement News

Dangote Cement Group's unaudited results for the 9M19 to 30 September 2019 saw group volumes up 1.1 per cent to 18Mt and Nigerian sales up 0.6 per cent to 10.8Mt, driven by strong 3Q19 promotional activity. Pan-African cement volumes rose by 1.7 per cent to 7.1Mt for the 9M19. However, group revenue fell by 0.8 per cent to NGN679bn (US$1.88bn) and group EBITDA slipped by 10.1 per cent to NGN303.2bn. Joe Makoju, Group Chief Executive Officer said: "The huge success of our Bag of Good...

MoU signing for 0.5Mta Cimenterie Industrielle de Kribi plant

31 October 2019, Published under Cement News

Oscar Minko, managing director of Cimenterie Industrielle de Kribi (Cmikri) Sarl, and the Chinese consortium China National Building Material Co Ltd (Sinoma/Afcham) have signed a memorandum of understanding (MoU) in Yaoundé, for the construction of a cement plant in the Kribi industrial port complex. Once completed, the average yearly distribution capacity of this plant will be 0.5Mta, expandable to 1.5Mta. The project requires the installation of an 18,000t silo for clinker and a 4000t sil...

BUA Group consolidates cement subsidiaries

31 October 2019, Published under Cement News

BUA Group, has announced the consolidation of its subsidiaries Cement Company of Northern Nigeria Plc (CCNN) and Obu Cement Company Plc. The move is part of its bid to deepen the Nigerian capital market and enhance the growth of the cement industry, said BUA Group. Commenting on the development, the Founder & Executive Chairman of BUA Group, Abdul Samad Rabiu, said this consolidation would mark the culmination of the first phase of the BUA mid-term strategic plan for its cement businesses,...