Cement News tagged under: Weekly Newsletter
Sephaku Holdings' profit eroded by rising costs14 November 2023, Published under Cement NewsSephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL. According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost... |
Ghana shuts three cement companies14 November 2023, Published under Cement NewsThe Ghana Standards Authority has shut down three cement companies due to their use of inferior materials, reports the Daily Graphic. The three cement producers in question are Xin An Safe Cement Ghana Ltd , Kumasi Cement Ghana Ltd, and Uniceme Cement Ghana Ltd. The move is reportedly part of a wider crackdown by the GSA on substandard cement production in Ghana. Along with the closure of cement plants, the GSA also intends to prohibit the construction of new cement factories, pending a ... |
Brazil's cement market contracts 2% in October13 November 2023, Published under Cement NewsCement sales in Brazil declined by 2.1 per cent to 5.257Mt in October 2023 when compared with October 2022, when sales reached 5.368Mt, according to the Brazilian cement association, SNIC. The southeast, the largest market, saw sales contract by 2.9 per cent YoY to 2.382Mt in October 2023 from 2.453Mt in the year-ago period while in the northeast sales slipped by 0.9 per cent YoY to 1.092Mt from 1.102Mt. Sales in the south fell by 3.7 per cent YoY to 0.851Mt in October 2023 from 0.88Mt. Th... |
Birla Corp reports 14% revenue growth in 2QFY2413 November 2023, Published under Cement NewsBirla Corp has reported revenue of INR22,858.3m (US$274.5m) in the 2QFY24 ended 30 September 2023. This marks a 14.3 per cent YoY increase. Net profit in the 2QFY24 came in at INR583.7m, compared to a loss of INR564.6m in the same period a year earlier. The rise in profit has been attributed to a number of factors, including cost initiatives and optimisation of the power and fuel mix, according to the company. Cement sales over the same three-month period advanced by 14.8 per cent YoY to 4... |
Votorantim Cimentos posts 36% profit growth in 3Q2310 November 2023, Published under Cement NewsVotorantim Cimentos has posted revenue of BRL7.4bn (US$1.51bn) in the third quarter of 2023, down three per cent compared to the same period a year earlier. The decline has been attributed to “market dynamics and the negative impact of the appreciation of the Real.” Net profit over the three-month period came in at BRL824m, marking a 36 per cent increase YoY. Cement sales in the 3Q23 stood at 10.3Mt, a one per cent uptick on the same period in 2022. Consolidated adjusted EBITDA reached... |
Argos records EBITDA of COP742bn in the 3Q2310 November 2023, Published under Cement NewsArgos reported that for the 3Q23 adjusted EBITDA stood at COP742bn (US$180.35m), increasing 25.4 per cent on a comparable basis versus 3Q22. The company's revenue in the 3Q23 slipped one per cent YoY to COP3087bn from COP3118bn in the year-ago period. The results were driven by strong pricing dynamics across all regions, combined with cost efficiencies. The adjusted EBITDA margin stood at 24 per cent for the quarter up from 19 per cent YoY. Cement dispatches reached 3.98Mt, with a contrac... |
Titan announces 14% sales rise in 9M2310 November 2023, Published under Cement NewsTitan 's group sales in the 9M23 increased by 14 per cent to EUR1892m YtD driven by increased volumes in all its regions and by solid pricing levels. Group EBITDA reached EUR397m YtD, up by 72 per cent as the group’s margins restored. Net profit more than doubled in the YtD to EUR198m. The group’s nine-month 2023 net profit after taxes and minority interests (NPAT) more than doubled, reaching EUR197.6m, compared to the EUR89.1m recorded in the same period in 2022. Growth-oriented capital... |
Buzzi SpA announces consolidated 9M23 net sales of EUR3303m09 November 2023, Published under Cement NewsBuzzi SpA announced that consolidated net sales in the 9M23 were equal to EUR3303m, up 9.9 per cent compared to EUR3004m in 9M22. Cement and concrete volumes fell -8.1 and -12 per cent YoY, respectively, due to a significant contraction of demand in central and eastern Europe, and to a less marked weakness in Italy and the United States. Cement and clinker sales of the group, in the first nine months of 2023, stood at 20.1Mt (21.9Mt in 9M22). Ready-mix concrete output reached 7.7Mm ... |
US Portland and blended cement shipments slip in August09 November 2023, Published under Cement NewsTotal shipments of Portland and blended cement shipments (including imports) in the USA and Puerto Rico slipped slightly to 10.6Mt in August 2023 when compared with August 2022, according to the US Geological Survey (USGS). Of the total blended cement volume, 5.7Mt or 98 per cent, was Portland limestone cement (Type IL). The main markets for Portland and blended cement in August 2023 were Texas, California, Florida, Ohio and Georgia, which accounted for a total 37.5 per cent of the month’s ... |
Holcim arrange shareholding agreement for Elite Cementos09 November 2023, Published under Cement NewsThe shareholders of the company Élite Cements SL , Grupo Simetry and Holcim España, have reached an agreement by which Holcim acquires the entire share capital of Élite Cements, thus becoming the sole partner of the company. Elite Cementos, located in the port of Castellón-el Grao, will continue to operate under the same brands and will continue its commercial activity, under Holcim Spain . For its part, Simetry Group continues with its diversification strategy. In recent years, Si... |