Cement News tagged under: business results
Tanzania: Tanga Cement to double clinker capacity31 May 2016, Published under Cement NewsThe Tanga Cement Company Limited (TCCL) has announced plans to raise output to 1.2Mt once the new kiln line is operational at its plant in northeastern Tanzania, East African Business Week reports. Construction of the new kiln is to begin shortly and will raise capacity at the Tanga plant from its current level of 0.5Mta. Grinding capacity is already thought to be 1.2Mta, meaning that the plant has had to rely on clinker imports in the past. Speaking at its annual general meeting, Chai... |
India: JK Cement annual profits down 35.3%31 May 2016, Published under Cement NewsThe Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slightly YoY at INR705.6m (US$10.5m). Like most Indian producers, JK Cement’s performance appears to have suffered from negative pricing pressures. Revenues were up for both the year and the final quarter, implying higher volumes than for 2014-15, but despite this profits suffered. ... |
Romania: CRH Ciment sees profits rise 40% in 201527 May 2016, Published under Cement NewsThe Romanian subsidiary of CRH, CRH Ciment, has released performance figures for 2015, reports Romania Insider. CRH Ciment saw turnover reach EUR189m (US$211m) in 2015, up 23 per cent YoY. Profits climbed faster still, reaching EUR30.1m, up 40 per cent YoY. The business was acquired by CRH from Lafarge as part of the divestment process that accompanied the formation of LafargeHolcim. Holcim Romania remains the largest cement producer in the country. |
Cementos Argos25 May 2016, Published under Cement NewsCementos Argos has reported a 31 per cent YoY increase in net profit in 1Q16 to COP122bn (US$41.7m). According to the company, this is due to expansion and consolidation of its existing business, more flexible operations and “the constant search for operational excellence.” EBITDA over the period advanced by 38 per cent to COP425bn, while consolidated revenue improved by 34 per cent to reach COP2.2bn. In the US market, EBITDA was up by 140 per cent to US$34m, compared to the same period l... |
PT Semen Indonesia25 May 2016, Published under Cement NewsSemen Indonesia has reported a five per cent YoY fall in revenue in the first three months of 2016 to IDR6021bn, due to a combination of lower volume and price. Over the same period, EBITDA declined by nine per cent to IDR1683bn, which was blamed on slow demand and increased competition. Pretax profit, meanwhile, contracted by 17.2 per cent to IDR1243bn. Total cement sales for the quarter, including Vietnam, came in at 6.43Mt, down 1.3 per cent YoY. Domestic sales accounted for 5.93Mt, repre... |
China National Building Materials (CNBM)25 May 2016, Published under Cement NewsFollowing an 82.8 per cent drop in its net profit in 2015, China National Building Materials (CNBM) has reported a further 44.6 per cent contraction in net profit attributable to the owners for the three months ending 31 March 2016. Again the fall is being blamed on the national slowdown in both infrastructure and real estate as the Chinese economy continues to cool. The news comes hot on the heels of the Chinese government announcement to spend CNY4.7trn (US$720bn) on over 300 transport ... |
PT Indocement25 May 2016, Published under Cement NewsGovernment spending on infrastructure is expected to drive up cement demand in Indonesia in 2016, according to PT Indocement. Following consumption growth of 3.4 per cent in 2015, the company says that it forecasts sales to rise by 3-5 per cent this year. Along with a fall in interest rates, the government has pledged an infrastructure spend of IDR313.5trn (US$23.51bn) this year, up by eight per cent compared to 2015. In anticipation of the rise, PT Indocement is building a new 4.4Mta integr... |
Kazakhstan: devalued tenge affects Steppe Cement25 May 2016, Published under Cement NewsThe sharp devaluation of the Kazakh tenge saw the 2015 results of Steppe Cement affected as import pressures waned. Until August 2015 local producers had to lower their selling prices to fend of imports into Kazakhstan due to the relative strength of the tenge against the rouble. As a result, sales volumes in tonnes rose by only two per cent YoY to 1,643,136t in 2015 from 1,612,709 in 2014 while prices fell by eight per cent. After September imports slowed significantly, along with the econo... |
India: Prism Cement 4QFY16 profits fall 95% YoY25 May 2016, Published under Cement NewsPrism Cement’s net profits for the quarter to 31 March 2016 fell to just INR30m (US$445,000), down 95.2 per cent YoY, reports India Infoline. Net revenues at the company rose by 4.1 per cent YoY to INR15.9bn (US$236m), while profit margins were estimated at 6.3 per cent. Indian producers have struggled over the past year as low prices have hit profits even as volume sales have risen. |
FLSmidth records 19% rise in 1Q order intake19 May 2016, Published under Cement NewsFLSmidth reported a 19 per cent increase in order intake for 1Q16 to DKK5.281bn (US$797m), mainly due to the receipt of a large order in a quarter which is usually quiet. Revenue fell by 20 per cent in January with the recovery in February and March unable to offset the drop. Total revenues for the quarter reached DKK3.758bn, down from DKK4.683bn a year ago. The revenue shortfall impacted on operational leverage, which led to an EBITA margin of 6.5 per cent (down from 8.5 per cent in 1Q15) ... |