Cement News tagged under: coronavirus

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Cemex sales decline by 10% in 2Q20

28 July 2020, Published under Cement News

Cemex reported significant disruption from COVID-19 in 2Q20. Sales declined by 10 per cent YoY and EBITDA fell by six per cent to US$554m. These decreases were attributed to lockdown measures. The decline in quarterly consolidated net sales was due to lower volumes for the company's three core products in almost all regions. The USA was the one exception with cement volumes growing six per cent. Net operating earnings before other expenses decreased 17 per cent to US$279m on a like-for-li...

Cemex Latam Holdings sales decline 36% in 2Q20

28 July 2020, Published under Cement News

Cemex Latam Holdings, SA announced that in a quarter marked by significant disruption from the COVID-19 pandemic, sales declined by 36 per cent in 2Q20, while EBITDA fell by 32 per cent, in local-currency terms, YoY. Cemex’s consolidated cement volumes declined by 33 per cent during the second quarter YoY. However, volumes recovered significantly in June, doubling the volumes sold during April. Quarterly consolidated prices for cement improved by four per cent YoY and remained stable seque...

Dangote's 1H20 results see 2% revenue growth

27 July 2020, Published under Cement News

Dangote Cement reported group revenue up two per cent to NGN476.9bn (US$1.23bn) in the 1H20. Group EBITDA rose to NGN218.1bn and pan-African EBITDA increased by 31.6 per cent to NGN31.5bn. Profit before tax was up 4.7 per cent to NGN162.9bn and net debt stood at NGN372.1bn at the end of 30 June 2020. Michel Puchercos, Group CEO, said:  "I am humbled by the fact that we continue to be in a strong position despite the economic downturn that the world is facing due to COVID-19. Although April ...

US cement shipments down 8% in April

27 July 2020, Published under Cement News

Shipments of Portland and blended cement in the US and Puerto Rico fell 7.5 per cent YoY to 8.1Mt in April 2020, according to the US Geological Survey (USGS). The leading cement-consuming states were Texas, California, Florida, Georgia and Ohio, which accounted for a combined market share of 42 per cent. The top five producing states were Texas, Missouri, California, Florida and Alabama Masonry cement shipments declined 11 per cent YoY to 195,000t in April 2020. Florida, Texas, North Caro...

Lebanese cement plants call for restart quarries

27 July 2020, Published under Cement News

Cement companies in Lebanon have called on the authorities to authorise the restart of their quarries, which they said activity had been for nearly seven month due to measures to prevent the spread of coronavirus. Cement prices had reached new heights on the informal market and cement production needed to be restarted, they said. Quarries in northern Lebanon have been particularly affected.

FLSmidth's 2Q20 preliminary report sees 29% decline in order intakes

27 July 2020, Published under Cement News

FLSmidth released its preliminary 2Q20 report ahead of the full interim 2Q20 results due to the volatility in order intake and revenue combined with the suspension of guidance caused by COVID-19. Across all regions, the mining industry and especially the cement industry have been negatively affected by the pandemic. In the 2Q20, organic order intake declined 29 per cent and organic revenue dropped 26 per cent YoY. Order intake totalled DKK3348m (US$526.2m) compared to DKK4954m in 2Q19. Reve...

Arabian Cement sees 80% fall in 2Q net profit

27 July 2020, Published under Cement News

Arabian Cement Co reported a net profit of SAR7.6 (US$2) m in the 2Q20, down 79.6 per cent YoY. In the 2Q19 net profit reached SAR37.3m. Revenue declined by 15.2 per cent YoY to SAR139.6m in the 2Q20 from SAR164.6m in the equivalent period of the previous year. The company attributes the fall in net profits to a decrease in sales values and volumes at its subsidiary in Jordan, which was affected by closure due to the COVID-19 pandemic. In addition, Arabian Cement’s sales, general, admini...

Spain's cement demand falls 17% in 1H19

21 July 2020, Published under Cement News

Cement consumption in Spain declined 16.5 per cent to 6.1Mt in the first half of 2020 when compared with the 1H19, according to Oficemen, the country’s  cement association. The association attributes the fall to the halt in construction works due to the coronavirus pandemic. "In June, many of the works paralysed during the confinement, for example, real estate developments, were resumed, but the monthly positive data should not make us think of a recovery in the sector," explains Oficemen p...

Egypt sees cement sales surge 42% in June

21 July 2020, Published under Cement News

Egypt's cement industry has reported a sudden surge in total sales, recording 3.64Mt during June 2020, including minimal exports, up 42 per cent MoM and one per cent YoY. June's improvement follows on from one of the lowest monthly sales run rates on record during May, which were impacted by the coronavirus (COVID-19) pandemic and the partial lockdowns. The MoM turnaround was recorded across companies including Suez Cement, which reported a sales growth of 55 per cent MoM and 24 per cent...

Eagle Cement Corp will pursue expansion plans

21 July 2020, Published under Cement News

Eagle Cement Corp will pursue its expansion plans despite the impact of the coronavirus pandemic. Expansion-related capital expenditures will continue while spending for non-critical projects and activities "will be trimmed," said Eagle president and CEO, Paul Ang. "Our strong financial position will allow us to weather this health crisis battering the economy without giving up major components of our expansion plans, which will secure our future growth," Mr Ang said. For this year, Eagl...