Cement News tagged under: Weekly Newsletter
Kohat Cement Co's profit rises by 25% YoY01 November 2023, Published under Cement NewsKohat Cement Co Ltd (KOHC) has announced its financial result for 1QFY23-24 at the Pakistan Stock Exchange (PSX) posting a profit after tax (PAT) of PKR2.230bn (US$7.92m) compared to a PAT of PKR1.785bn in a year ago period up by 25 per cent YoY. The result, highlights by AHL Research, says that the topline during 1QFY23-24 clocked in at PKR11.064bn, displaying a jump of 25 per cent YoY compared to PKR8.853bn in the year-ago period. This growth in 1QFY23-24 is attributable to an increas... |
UltraTech to raise Indian cement capacity to 182Mta31 October 2023, Published under Cement NewsUltraTech 's Board of Directors at its meeting held today, approved the third phase of growth with an investment of INR130,000m (US$1561m) towards increasing the capacity by another 21.9Mta with a mix of brownfield and greenfield projects. Kumar Mangalam Birla, chairman of the Aditya Birla Group , said, “Over the past seven years, UltraTech has strategically invested over INR50,000 crores [INR500,000m] to support India's rapidly changing infrastructure landscape. Our fresh commitmen... |
Cementos Molins posts revenues of EUR1079m in 9M2331 October 2023, Published under Cement NewsCementos Molins has announced its financial results for the first three quarters of 2023, achieving revenues of EUR1079m, up 13 per cent compared to same period in 2022. The company reached sales growth across all business segments and most regions. On a LfL basis, revenues rose by 34 per cent. EBITDA reached EUR278m, representing a 33 per cent increase compared to the same period last year. This improvement is driven mainly due to the positive impact of higher volumes, the company’s... |
Dangote posts 53% YoY rise in revenue in 3Q2330 October 2023, Published under Cement NewsDangote Cement Plc has reported revenue of NGN563.77bn (US$703.77m) in the third quarter of 2023, up 52.7 per cent compared to the same period in the previous year. Gross profit over the same period advanced by 46.3 per cent to NGN304.11bn, while pretax profit surged 132.4 per cent to NGN165.03bn. Profit after tax leapt to NGN98.95bn, marking a 141.3 per cent YoY advance. Meanwhile, earnings per share were up by 138.3 per cent YoY to NGN5.38 in the 3Q23. Even with a 33 per cent YoY ris... |
Holcim US expands Ste Genevieve plant30 October 2023, Published under Cement NewsIn support of its commitment to sustainably supply the nation’s growing construction industry, Holcim US has announced a US$100m investment in its Ste Genevieve cement plant— the largest cement-producing facility in North America and one of the most technologically advanced and environmentally efficient facilities in the world. The expansion will increase the plant's cement production capacity by more than 600,000tpa while reducing net CO 2 emissions, increasing circularity and accele... |
Saint-Gobain reports stable sales, supported by acquisitions30 October 2023, Published under Cement NewsSaint Gobain has reported stable like-for-like sales over the first nine months of 2023, compared to the same period a year earlier, despite a 3.1 per cent YoY contraction in the 3Q23. On a reported basis, sales were down 4.9 per cent to EUR36.5bn (US$38.6bn) in the 9M23 and fell by 10.5 per cent to EUR11.6bn in the 3Q23. Prices over the nine-month period advanced by five per cent YoY and by 1.9 per cent in the 3Q23, reflecting overall sequential price stability and generating a positive pri... |
GCC reports 18% rise in sales in 3Q2326 October 2023, Published under Cement NewsMexico-based cement producer GCC has reported consolidated net sales of US$416.1m in the 3Q23, up 17.9 per cent YoY. This was primarily due to increased cement and concrete volumes in Mexico, increased concrete volumes in the US and a favourable price environment in both markets. However, these were partially offset by decreased cement volumes in the US. EBITDA in the 3Q23 improved by 35 per cent YoY to US$158.5m with an EBITDA margin of 38.1 per cent. Earnings per share over the three-... |
Adani Cement completes refinancing package26 October 2023, Published under Cement NewsAdani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company. “This achievement reflects our commitment to financial stability and growth. This facility will res... |
Domicem commissions new kiln, doubles capacity25 October 2023, Published under Cement NewsDomicem , a subsidiary of Colacem SpA (Italy), commissioned a new kiln line at Sabana Grande de Palenque , San Cristóbal province, in the Dominican Republic, on 13 October 2023. The US$120m expansion consisted of a 3500tpd kiln line and doubles cement capacity at the existing plant to 3.8Mta. The project, which was first announced in March 2021, was executed by by Sinoma CBMI Construction (China). Domicem first entered the Dominican Republic in 2005 with the launch of its first... |
Climate pledges must be on time and in full, warns the IEA25 October 2023, Published under Cement NewsDespite an “unstoppable” shift towards clean energy, demand for fossil fuels is still far too high to keep within the Paris Agreement's 1.5˚C goal. That is just one of the findings of the International Energy Agency’s (IEA) ’World Energy Outlook 2023’ report just released. The report describes an energy system in 2030 that includes almost 10x as many electric cars on the road, solar PV generating more electricity than the entire US power system does currently, the share of renewables in t... |