Cement News tagged under: Weekly Newsletter
BUA Cement records revenue growth of 27% in 202301 March 2024, Published under Cement NewsBUA Cement reports its full year 2023 audited financial statements and accounts, posting a strong revenue growth of 27.4 per cent to NGN460bn (US$282m) compared to NGN361bn in 2022, resulting from an increasing market share. However, with the devaluation of the naira last June and its continued depreciation, as well as growing inflation, the company faced increasing price pressures which impacted production costs, as these increased by 39.5 per cent to NGN276bn (2022: NGN197.9bn). In ad... |
Cementos Molins reports record results in 202329 February 2024, Published under Cement NewsSpain-based Cementos Molins closed 2023 with revenues of EUR1349m, up six per cent YoY with gains across all businesses and regions as sales increased and price management impacted positively on the company’s results. EBITDA advanced 22 per cent YoY to EUR337m thanks in particular to the contribution of the company’s Spanish and Mexican operations. Higher volumes, successful efficiency plans and increases in selling prices all played a role in improving the operational result. However, the... |
Schwenk Zement terminates Namibian purchase agreement29 February 2024, Published under Cement NewsThe purchase agreement between Schwenk Zement International GmbH and RWCo GmbH regarding shares in Schwenk Namibia (PTY) Ltd has been cancelled. The agreement, which was signed on 6 April 2023, was for 100 per cent of the shares in Schwenk Namibia, which holds, inter alia, 69.83 per cent of Ohorongo Cement (PTY) Ltd and 100 per cent of Energy For Future (PTY) Ltd. The agreement was waiting on the approval of the Namibian Competition Commission (NaCC). According to RWCo, rather than a... |
Holcim posts record results in 202328 February 2024, Published under Cement NewsHolcim has posted record results in 2023 with full-year net sales of CHF27,009m (US$30,662m), compared to CHF29,189m in the previous year. Recurring EBIT over the same period advanced from CHF4752m to CHF4760m, while operating profit improved from CHF3221m to CHF4577m. Earnings per share declined from CHF5.48 in 2022 to CHF5.37 a year later. According to the company, the record results were driven by positive price over cost in cement, aggregates and ready-mix. Commenting on the result... |
Adbri reports 13% revenue rise in 202327 February 2024, Published under Cement NewsAdbri Ltd has reported revenue of AUD1922.9m (US$1259m) in 2023, up 13.1 per cent from the AUD1700.3m seen in the previous year. Statutory EBITDA advanced 5.2 per cent YoY from AUD282.6m in 2022 to AUD297.4m the following year, with underlying EBITDA coming in at AUD311m in 2023, up 30.9 per cent YoY. Statutory net profit after tax in 2023 stood at AUD92.9m, down 9.5 per cent from AUD102.6m in the previous year, while underlying net profit after tax was up 43.8 per cent YoY over the same p... |
Heidelberg Materials reports record results in 202322 February 2024, Published under Cement NewsHeidelberg Materials has reported record preliminary results for 2023 with group revenue up four per cent YoY to EUR21.2bn, despite what the company describes as a “weak market environment”. The result from current operations (RCO) improved by 29 per cent YoY to EUR3bn, while profit for the year attributable to shareholders came in at EUR1929m, up from EUR1597m in the previous year. The return on invested capital (ROIC) increased to 10.3 per cent in 2023, compared to to 9.1 per cent in 202... |
Argos' adjusted EBITDA totals COP672bn in 4Q2322 February 2024, Published under Cement NewsFor the fourth quarter of 2023, Argos ' adjusted EBITDA stood at COP676bn (US$172.2m), increasing 12 per cent compared to 4Q22. The results were driven by strong pricing dynamics, especially in the US, combined with cost efficiencies in both Colombia and the US. Adjusted EBITDA margin stood at 23.2 per cent for the quarter, increasing 393 basis points versus 2022 on a comparable basis. In terms of volumes, total cement dispatches reached 3.8Mt, with a contraction of 2.3 per cent, caus... |
FLSmidth reports 39% increase in net profit22 February 2024, Published under Cement NewsIn its consolidated results of 2023, Denmark-based FLSmidth reported a 10 per cent increase in revenue to DKK24,106m from DKK21,849m in 2022. The company’s gross profit increased by 20 per cent YoY to DKK6087m from DKK5076m in 2022, resulting in an improved profit margin of 25.3 per cent in 2023 from 23.2 per cent in the previous year. EBITA increased from DKK943m in 2022 to DKK1438m in 2023 while net profit increased by 39 per cent YoY to DKK491m from DKK352m. Mining order intake decreas... |
Qassim Cement Co is to acquire all of Hail Cement Co's shares20 February 2024, Published under Cement NewsTwo cement producers in Saudi Arabia are in the amalgamation process and have informed their intention with limited details to the local bourse. According to a notification of both firms at the Saudi Exchange, Qassim Cement Co (QCC) is to acquire all of Hail Cement Co ’s shares. Concerning the announcement made by Hail Cement Co (HCC) on the Saudi Exchange website recently regarding the entry into a binding implementation agreement (the “Implementation Agreement”) with Qassim Cement Co... |
Holcim Mexico is investing US$55m in new mill19 February 2024, Published under Cement NewsHolcim Mexico will invest US$55m in the construction of a new mill at its cement plant located in the municipality of Macuspana , Tabasco. The mill will process the company's ECOPlanet calcined clay cement range. The cement company added that the construction of the mill will help it increase its cement production capacity to 1.5Mta. The construction of the mill will generate 800 jobs during its construction and will increase the workforce of the Tabasco plant to more than 300 jobs onc... |