Cement News tagged under: corporate
Holcim's 1H24 profit growth driven by Solutions & Products26 July 2024, Published under Cement NewsHolcim has announced record profitable growth in the first half of 2024. Net sales for the six-month period came in at CHF12,813m (US$14,516m), down 1.9 per cent YoY from CHF13,067m in the same period a year earlier but up 1.6 per cent in local currency terms. Recurring EBIT over the same time frame advanced 12.7 per cent in local currency from CHF2043m to CHF2210m, with the recurring EBIT margin coming in at 17.2 per cent in the 1H24 compared to 15.6 per cent in the 1H23. Operating profit... |
Ramco Cements sees 55% fall in net profit26 July 2024, Published under Cement NewsThe Ramco Cements Ltd reported a 55 per cent fall in net profit to INR355m (US$4.24m) during the quarter ended 30 June 2024, compared to INR793m in the same quarter of 2023. The company’s net revenue decreased by seven per cent in the first quarter of FY24-25 to INR20.97bn, down from INR22.49bn in the same period of FY23-24. During the first quarter of FY24-25, sales volume was 4.4Mt, compared to 4.3Mt in the April-June quarter of 2023. This was due to weak demand amid general electi... |
Cemex reports highest EBITDA margin in eight years26 July 2024, Published under Cement NewsCemex has reported strong 2Q24 results with a two per cent increase in EBITDA, while the EBITDA margin expanded to the highest level since 2016. The EBITDA margin was propelled by favourable price-to-cost dynamics, with prices rising mid-single digits amidst decelerating costs. Net sales were flat compared to the 2Q23, reflecting difficult weather conditions in key markets offset by pricing momentum, says Cemex. “Our strong second quarter results demonstrate the efficacy of our commercial... |
Yanbu Cement sees 14% rise in 1H net profit26 July 2024, Published under Cement NewsSaudi Arabia-based Yanbu Cement Co announced its interim condensed consolidated financial results for the period ended 30 June 2024. Sales for the six month-period advanced SAR428.37m (US$114.2m), up 7.7 per cent YoY from SAR397.56m in the 1H23. The increase was attributed to a rise in sales volumes and the average selling price. Operating profit increased 17.8 per cent YoY to SAR112.23m in the 1H24 from SAR95.4m. Net profit improved 13.6 per cent YoY to SAR98.07m from SAR86.3m in th... |
GCC posts 9% advance in 2Q earnings25 July 2024, Published under Cement NewsMexico-based GCC SAB de CV reported consolidated net sales down by one per cent to US$360.3m in the second quarter of 2024 from US$364.1m in the 2Q23. US cement and concrete prices increased by 5.3 and 8.1 per cent, respectively while in Mexico cement and concrete prices were up by 2.5 and 6.4 per cent, respectively. However, these increases were not able to offset falls in volumes. Cement volumes were down by 7.1 per cent both in the US and Mexico while concrete volumes saw a 14.3 p... |
Al Jouf Cement signs contract for NEOM City cement supply25 July 2024, Published under Cement NewsAl Jouf Cement Co has signed a SAR104.19m (US$27.7m) contract to sell cement to Webuild SpA for NEOM construction projects. The joint deal will last 41-months from the date of signing, according to a bourse disclosure. Al Jouf Cement highlighted that the financial impact will reflect positively on its financial statements from the 3Q24 until the end of the contract period. Zawya states that the cement producer also signed a deal with Saudi Awwal Bank (SAB) to reschedule SAR154.45m Is... |
Breedon reports uptick in revenue in 1H2424 July 2024, Published under Cement NewsBreedon Group has announced underlying revenue of GBP764.6m (US$985.9m) in the first half of 2024, up three per cent from GBP742.7m in the same period a year earlier. According to the company, this has been supported by its entry into the US. Underlying EBITDA over the same time frame has advanced five per cent to GBP118.1m, while the EBITDA margin has risen slightly from 15.1 per cent in the 1H23 to 15.4 per cent in the same period a year later. Underlying profit before tax has declined s... |
PPC signs agreement with Sinoma24 July 2024, Published under Cement NewsPPC has signed an agreement with Sinoma Overseas Development Corporation to transform PPC’s operations in South Africa, Zimbabwe and Botswana. According to Engineering News, the agreement includes improving efficiency, modernising technology, lowering production costs, increasing the use of non-fossil fuels and expanding production capacity. Commenting on the agreement, Matias Cardarelli, CEO at PPC, said, “In the current highly competitive environment, we must operate our industrial o... |
YTL Cement to acquire NSL24 July 2024, Published under Cement NewsMalaysian cement producer, YTL Cement, has agreed to acquire Singapore-based NSL for MYR792m (US$169.5m). According to Business Today, NSL is principally involved in the provision of management services and investment holding while its subsidiaries produce and sell building materials, oil and petroleum-related products, and supply environmental services. It is one of the leading producers of precast concrete components in Malaysia and Dubai. The deal will give YTL Cement an 81.24 per c... |
Saurashtra Cement publishes increase in revenue24 July 2024, Published under Cement NewsSaurashtra Cement Ltd has reported consolidated revenue from operations of INR17.65bn (US$210m) in FY23-24 (ended 31 March 2024), up from INR16.45bn (seven per cent YoY). EBITDA for the year was INR1.2bn, compared to INR572m in FY22-23, reflecting a 77.1 per cent YoY increase. Net profit for the year before tax came in at INR565m, marking an 88 per cent YoY increase. Blended cement sales growth was higher than the overall sales growth and clinker production was up nine per cent than th... |