Cement News tagged under: coronavirus

RSS feed

CRH revenues expected to recover in 3Q20

28 August 2020, Published under Cement News

Following the release of CRH's 2020 interim results last Friday, ICR now takes a deeper look at what the underlying trends have been for the company's trading performance during this challenging period. First-half sales for the group were five per cent behind, with like-for-like (LfL) sales three per cent behind the 1H20, as a positive performance in the first quarter was followed by significant disruption in the second quarter. EBITDA of US$1.59bn down when compared with 2019 (1H19: US$1.6...

FLSmidth's revenue guidance for 2020 is DKK15.5-17bn

28 August 2020, Published under Cement News

FLSmidth's revenue in 2020 is forecast to be DKK15.5bn-17bn (US$2.48bn-2.72bn), says the company. EBITA margin is expected to be 4.5-6 per cent, which takes into account around DKK210m of implementation costs related to business improvement activities. On 23 March FLSmidth's financial guidance for 2020 was suspended due to the global uncertainty caused by the COVID-19 pandemic. On 28 April the company announced that full-year results were expected to be below the initial guidance. Visibilit...

Bangladesh producers seek advanced income tax refund of BDT7500m

28 August 2020, Published under Cement News

Bangladeshi cement manufacturers have requested that the National Board of Revenue makes payment of BDT7500m (US$88,47m) as a refundable advanced income tax to help them recover some of their losses from the coronavirus pandemic. Previous attempts to seek similar demands in the national budget were turned down. "We need a fresh injection of capital to recover the losses incurred due to pandemic. We have fallen in capital shortage as well. So, the government should refund our adjustable fund...

Adelaide Brighton returns to profit in the 1H20

26 August 2020, Published under Cement News

Australia’s Adelaide Brighton has posted a net profit after tax of AUD29.1m (US$20.95m) in the first half of 2020, compared with a net loss of AUD17.9m in the year-ago period. The company’s revenue declined seven per cent YoY to AUD700.7m. The company has reported that COVID-19 left operations largely uninterrupted, while the mining sector and the company’s increased exposure to the infrastructure market supported sales. However, overall cement sales decreased six per cent, although vol...

Hetauda Cement Industries sees losses mount up

25 August 2020, Published under Cement News

A combination of COVID-19, stalled construction activities and falling cement sales have seen Hetauda Cement Industries' losses grow fivefold YoY. The state-owned Nepalese company amounted losses totalling NPR50m (US$417,872) in the last fiscal year ended mid-July. According to the factory, it was able to sell only 1.45m bags of cement and clinker out of the 1.9m bags it produced in the last fiscal year. Sarju Aryal, head of the sales division, said the factory was left with about 400,000...

Anhui Conch's 1H20 profit rises 5.3%

24 August 2020, Published under Cement News

Anhui Conch Cement's net profit rose in the 1H20, on the back of a resumption of construction projects in Asia and higher sales in western China. However, due to the COVID-19 pandemic, cement sales volumes fell across the regions the company operates in, except for west China. The cement company's net profit increased by 5.3 per cent to CNY16.09bn (US$2.33bn) during the period, the company reported. First-half operating revenue rose 3.3 per cent to CNY74.01bn. The company said it will se...

PCA's US cement consumption regional forecast review

21 August 2020, Published under Cement News

This week ICR looks at the regional briefings that the Portland Cement Association (PCA) has given for the economic and cement demand outlook in the USA, following COVID-19. Western region Brian Schmidt, PCA Regional Economist for the western USA, reported that both the Rocky Mountain (RM) and Pacific divisions have been hit hard by a fall in construction work. April cement consumption for Washington was down over 40 per cent, after Governor Jay Inslee announced in March that construction...

Votorantim Cimentos 2Q20 cement sales edge up

17 August 2020, Published under Cement News

Votorantim Cimentos released its results for the 2Q20, announcing that the company’s cement sales volumes reached 7.5Mt, up 0.3 per cent on the 7.4Mt sold in the 2Q19. Net revenues reached BRL3876 (US$717.21m), up 18 per cent on the 2Q19 when it totalled BRL3298m. EBITDA amounted to BRL735m up from BRL491m in the 2Q19. Consolidated net revenues totalled BRL3.9bn in the 2Q20, an 18 per cent increase when compared to the same period of 2019, mainly explained by better volumes and prices in Vo...

Bangladesh's cement sector sees signs of recovery in demand

17 August 2020, Published under Cement News

Premier Cement of Bangladesh has reported that the cement sector has been showing some signs of recovery for the last two months, despite the coronavirus pandemic. The sector had been reeling from the unprecedented collapse in demand in April and May because of the pandemic, which hammered activity and brought the construction sector to a grinding halt. However, activity has begun to pick up and are now back almost to the pre-pandemic level in June and July. "The economic front of a develo...

Namibia’s cement sales affected by COVID-19

17 August 2020, Published under Cement News

The lack of economic activity due to the coronavirus pandemic has affected cement sales by Ohorongo Cement, said Frankleen Alberts, the company’s customer relations and public affairs manager. “Cement sales have been affected since the outbreak of the virus. We were able to continue supplying our Namibian market without major interruptions while adhering to the regulations under the state of emergency. However, due to the restrictions and quarantine rules by neighbouring countries, our exp...