Cement News tagged under: coronavirus
Egypt's government set to put the brakes on cement production14 May 2021, Published under Cement NewsThe Egyptian government has decided to take direct action to curb the excess production in the country's cement sector. In an attempt to ease the flow of cement, the government has proposed that cement producers reduce their production by 10 per cent. The government itself has contributed to the oversupply with the creation of its 13Mta military plant in Beni Suef cement plant in 2018, which has seen its sales fall by half, according to military executives. Under the formula proposed last... |
Cemex records 1Q21 net sales of US$3.4bn30 April 2021, Published under Cement NewsCemex has announced its 1Q21 results with EBITDA growing on a YoY basis in all regions. Consolidated net sales increased nine per cent to US$3.4bn. Operating EBITDA improved 28 per cent to US$684m, while the EBITDA margin increased to 20.1 per cent, 2.8 percentage points higher year over year. Net debt and leverage were reduced materially during the first quarter. Net debt plus perpetuals fell by US$547m, while leverage ratio was reduced to 3.61 times, almost half-a-turn reduction... |
The search is on for new investors in Brazil's cement sector23 April 2021, Published under Cement NewsBrazil's cement market has been the focus of much attention in recent weeks firstly, with the completion of the CRH cement assets in the country to Companhia Nacional de Cimento (CNC), and more recently the unconfirmed reports that Banco Itau BBA is preparing to advise on the divestment of LafargeHolcim's Brazilian unit. The sale of the Swiss multinational's cement interests in Brazil is expected to raise up to US$1.5bn, according to analysts UBS European Building Materials . These fund... |
Breedon reports strong trading in 1Q2120 April 2021, Published under Cement NewsBreeding announced encouraging trading in the first three months of the year. There was good demand in the GB market, where the business benefitted from contributions from the Cemex acquisition, combined with a robust cement performance, which more than offset the impact of COVID-19 restrictions limiting construction activity in the Republic of Ireland. Overall, group revenues in the first three months of the year were approximately GBP264m, an increase of 27 per cent compared with the ... |
Which US cement producers can exploit higher cement demand in 2021?16 April 2021, Published under Cement NewsThe Portland Cement Association's ( PCA) Spring Cement Consumption Forecast for 2021-22 indicated that cement demand in the USA could match or exceed last year's growth of two per cent, despite the loss of nearly 9.5m jobs and a severe decline in real GDP as a direct result of the country's lockdowns and economic impact from COVID-19. Further, the PCA was keen to highlight the long-term upturn in US cement demand that would be supported by the US$2.2trn eight-year infrastructure 'Bui... |
Buzzi Unicem outlook for 202130 March 2021, Published under Cement NewsBuzzi Unicem's Board of Directors gave an outlook for 2021 with expected sales recovery in Italy and an economic recovery in the USA, while forecasting higher industry inflation forces for building material production going forward. In Italy construction investments are expected to grow moderately, mainly favoured by the residential building renovation sector and by a gradual recovery of activity in the commercial and public segments. In this context, Buzzi Unicem believe that a recovery... |
Cemex releases its Integrated Report 202026 March 2021, Published under Cement NewsCemex, SAB de CV presented its Integrated Report 2020: 'Safe, Essential, Resilient' on 25 March, which includes a comprehensive analysis of Cemex’s strategic vision, operational performance, corporate governance, and value creation at a global level. Fernando A Gonzalez, CEO of Cemex said, "Sustainability remains to be one of our top priorities, and our Climate Action strategy makes us confident in our ability to achieve our targets and aspirations." Among the main accomplishmen... |
Dangote Cement Group reports FY20 revenues of NGN1034.2bn24 March 2021, Published under Cement NewsDangote Cement Plc has released its FY20 results, reporting group revenue up 16 per cent to NGN1034.2bn (US$2718.1bn) when compared with FY19. Group EBITDA totalled NGN71.3bn, up 49 per cent on FY19 and pan-African EBITDA reached a record NGN478.1bn. Group gross profit amounted to NGN596,226m, up 16.5 per cent from NGN511,682m in FY19. Net debt at the end of the period stood at NGN337,275m. Michel Puchercos, Group CEO, said: "Despite the impact of the COVID-19 pandemic, 2020 was a reco... |
Taiwan Cement reports company revenue of TWD114.36bn in FY2023 March 2021, Published under Cement NewsTaiwan Cement has announced its consolidated financial results for the year ended 31December 2020, as compared to the corresponding period of last fiscal year. Company r evenue amounted to TWD114.36bn (US$4.02bn) and the gross profit margin totalled 32.9 per cent compared to 29.3 per cent in FY19. Operating income was TWD31.34bn and net income was TWD25.09bn, an increase of 3.7 per cent. Edward Huang, senior vice president, said: "In 2020 Taiwan Cement made achievements i... |
Cement export from Pakistan remains fragile in 8MFY2118 March 2021, Published under Cement NewsThe Federal Bureau of Statistics (FBS) of Pakistan has released cement export and production data for the July 2020-February 2021 and July 2020-January 2021 periods, respectively. It shows mixed trends. Export volumes increased during this period, but revenues declined in dollar terms, reflecting a dwindling global market for cement and clinker. Meanwhile, local output increased. Export Pakistan's cement industry earned US$183.19m of export revenue by delivering 5.469Mt of cement ... |