Cement News tagged under: business results
Eagle Cement Corp grows net profits by 5%09 August 2018, Published under Cement NewsPhilippine-based Eagle Cement Corp grew its net profit by five per cent YoY to PHP2.3bn (US$43.3m) in the 1H18 with higher sales volume compensating for lower selling prices. The company's first-half net sales rose by some 10 per cent YoY to PHP8.21bn. Gross profit margin was maintained at 48 per cent. Cash flow as measured by earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by five per cent during the period, translating into an EBITDA margin of 43 per cent. A... |
Cemex Latvia's turnover rises 35% with strong export sales09 August 2018, Published under Cement NewsCemex generated EUR78.067m turnover in Latvia in 2017, up 34.6 per cent against 2016, selling 970,000t of cement, while the copany's share of export sales grew to 70 per cent. Growth was recorded in all segments thanks to a robust growth of the Latvian construction sector in 2017. Growing exports to markets such Sweden and Finland as well as sales in Estonia, Lithuania and Belarus compensated for the sanctions-related drop in exports to Russia. However, interest and depreciation costs st... |
Taiheiyo Cement records 32% net profit increase in 1QFY18-1909 August 2018, Published under Cement NewsTaiheiyo Cement has announced a 5.9 per cent YoY increase in revenue to JPY211.34bn (US$1.9bn) in the first quarter of FY18-19 ended 30 June, compared with JPY199.61bn of the year-ago period. Operating profit advanced 10.3 per cent to JPY9.76bn from JPY8.85bn, while net profit surged 32.4 per cent to JPY6.13bn. The company also released forecasts for the 1HFY18-19 and financial year ending March 2019, with revenue expected to reach JPY429bn and JPY888bn, respectively. Net profit is anticip... |
Tabuk Cement turns to losses in 2Q1809 August 2018, Published under Cement NewsSaudi Arabia’s Tabuk Cement Co has reported net losses of SAR36.08m (US$9.6m) in the 2Q18, against profits of SAR1.29m in the equivalent period of the previous year. For the first half of 2018, losses reached SAR47.3m, versus profits of SAR9.97m in the 1H17. The 2Q18 result has been attributed to low selling prices on the back of strong competition with an increase in sales volumes unable to off-set this. In addition, an increase in depreciation led to higher sales costs that combined... |
Umm Al Qura Cement records 98% profit decline08 August 2018, Published under Cement NewsSaudi Arabia-based Umm Al Qura Cement Co (UACC) has seen its profit drop 97.6 per cent YoY in the second quarter of 2018, falling to SAR199,600 (US$53,226) from SAR8.4m. The significant decline in profit has been attributed to a decrease in sales value, alongside higher marketing and selling expenses. In the half-year period (Jan-Jun 2018), the company saw profits down 59.3 per cent to SAR10.4m from SAR25.5m. Sales slipped 3.3 per cent to SAR87.7m, compared with SAR90.6m of the year-ago pe... |
FLSmidth reports 13% order increase in 2Q1808 August 2018, Published under Cement NewsFLSmidth has released its interim 2Q18 report and reported a 13 per cent order increase to DKK5.056bn (US$787.86m) for the period, driven by over 100 per cent growth in the minerals division. Revenue in the second quarter advanced 3.2 per cent YoY to DKK4.73bn, compared with DKK4.585bn of 2Q17. "We saw the highest order intake in the Minerals division for several years, which shows that miners are starting to put action behind their investment plans. Most activity is related to single equi... |
Vicat sees strong growth in net profit07 August 2018, Published under Cement NewsVicat's 1H18 turnover improved by 2.7 per cent to EUR1281m, or by 9.6 per cent on a comparative basis. EBITDA advanced by 4.5 per cent to EUR197m, or by 12.3 per cent on a comparative basis, and the margin improved from 15.1 to 15.4 per cent. The trading profit rose by 21.3 per cent to EUR104m, while the net interest charge was EUR1.8m lower at EUR11.1m, giving an attributable profit 47.2 per cent higher at EUR59m. The net debt at the end of the period amounted to EUR895m, an 11 per cent red... |
Sumitomo Osaka Cement records 10% revenue increase in 1QFY18-1907 August 2018, Published under Cement NewsJapan’s Sumitomo Osaka Cement Co recorded a 10 per cent YoY revenue increase in the first quarter of the FY18-19 period, rising to JPY60.19bn (US$540.56m) from JPY57.35bn. However, operating profit has declined 26.9 per cent YoY to JPY2.74bn, compared to JPY3.75bn of the year-ago period. The company’s net profit saw a similar fall of 21.7 per cent to JPY2.16bn. |
Eastern Cement records 46% fall in 2Q18 profit07 August 2018, Published under Cement NewsSaudi Arabia’s Eastern Province Cement Co has recorded a 45.7 per cent YoY decline in net profit for the 2Q18, falling to SAR19m (US$5.06m) from SAR35m. Sales dropped 4.4 per cent to SAR152m from SAR159m. In the 1H18 the company’s profit decreased 59.3 per cent to SAR35m, while sales dipped 19.9 per cent to SAR290m. Eastern Cement attributed the fall in 1H18 profit to a decline in the value and volume of precast concrete sales. |
Eagle Materials sees record revenues06 August 2018, Published under Cement NewsEagle Materials Inc saw its 1QFY18-19 revenues hit record levels at US$393.8m, up eight per cent YoY. Net earnings rose 12 per cent from US$54.882m in 1QFY17-18 to US$66.339m in 1QFY18-19. The company saw its results mainly impacted by a US$6.5m pretax increase in maintenance expenses, primarily due to the timing of the annual maintenance outage at the Fairborn cement plant, but also by a US$1.8m litigation loss at its Paperboard subsidiary and US$1.6m of start-up costs at its new frac san... |