Cement News tagged under: corporate

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Cementos Argos' revenues slip in 2018

21 February 2019, Published under Cement News

Cementos Argos has posted its full-year 2018 results and reported that cement and ready-mix volumes fell in 4Q18 by three and seven per cent, respectively. The company pointed to unfavourable weather conditions in the USA and higher electricity and fuel costs in Colombia that were only partially offset by stronger sales in the Caribbean. Full-year 2018 results Cement volumes in 2018 slipped to 16.02Mt from 16.19Mt in 2017, down -1.1 per cent. 

Ready-mix volumes for the full year 2018 v...

Caribbean Cement earns revenues of US$131m in 2018

21 February 2019, Published under Cement News

Caribbean Cement reported an improved financial performance in 2018 compared to 2017. Revenue earned for 2018 was JMD17.6bn (US$130.8m), representing an increase of six per cent YoY.   Profit before taxation for 2018 was JMD3.3bn, an increase of 118 per cent over the JMD1.5bn reached in the previous year. Net profit after tax for the period amounted to JMD2.5bn from JMD1.1bn in 2017. Caribbean Cement terminated the lease with parent company Trinidad Cement in April 2018 with the acquisition...

Sungshin Cement reports 33% rise in net profit in 2018

21 February 2019, Published under Cement News

South Korea-based Sungshin Cement Co reported its preliminary and unaudited results for 2018. The company saw a 6.3 per cent increase in revenues to KRW688.12bn (US$611.4m) in 2018 from KRW647.19bn in the previous year. However, the company’s operating profits slipped by 6.7 per cent from KRW32.8bn in 2017 to KRW30.61bn one year later. Its net profit rose 32.6 per cent from KRW12.12bn in 2017 to KRW16.07bn.

Kohat Cement earns net profit of PKR1.526bn in 1HFY19

21 February 2019, Published under Cement News

Kohat Cement Co Ltd (KCCL) has announced its financial results for the half year ended 31 December 2018, declaring a net profit for the period of PKR1.526bn (US$10.9m), a fall of 7.17 per cent YoY, as compared to PKR1.644bn in the same period last year. The company had net sales during the half year PKR8.391bn from PKR6.867bn during this period, an increase of 22.19 per cent. KCCL incurred increasing distribution costs of PKR 73m against PKR68m in the same period last year. The administr...

Cemex sells Broceni plant and Nordic assets to Schwenk Zement

20 February 2019, Published under Cement News

Cemex has announced that it has signed an agreement for the sale of assets in the Baltics and Nordics to Schwenk Zement for approximately EUR340m. The Baltic assets being divested consist of the 1.7Mta Broceni cement plant in Latvia, four aggregates quarries, two cement quarries, six ready-mix plants, one marine terminal and one land distribution terminal in Latvia. The assets divested also include Cemex's approximate 38 per cent indirect interest in the 1.8Mta Akmene cement plant in Lithu...

Vicat's net underlying 2018 profits 12% ahead

20 February 2019, Published under Cement News

Vicat's turnover edged ahead by 0.7 per cent in 2018 to EUR2582m and EBITDA eased by 2.2 per cent to EUR435m, while at unchanged exchange rates and other parameters the changes would have been +5.9 per cent and +2.7 per cent, respectively. The trading profit was ahead by 0.8 per cent to EUR249m, with the advance at unchanged parameters being 5.9 per cent. The net financial charge was 31.6 per cent or EUR8.9m lower at EUR19.3m. After a reduction in the contribution from associates from EUR5.6...

Gulf Cement Co sees fall in profit in 2018

20 February 2019, Published under Cement News

UAE-based Gulf Cement Co reported revenues of AED475.707m (US$129.5m) in 2018, according to the company’s preliminary results. This represents an 18.4 per cent drop from AED583.203m the previous year. The company’s net operating profit of AED24.360m in 2017 declined to a loss of AED49.072m in 2018 while net profit fell from AED40.613m to a loss of AED32.99m over the same period.

Fauji Cement's profit increases by 43.88% in 1HFY19

20 February 2019, Published under Cement News

Fauji Cement Co Ltd (FCCL) has announced its financial results for the half year ended 31 December 2018, by declaring of net profit for the period of PKR1.82bn (US$13m), increased by 43.88 per cent YoY, as compared to PKR1.26bn in the same period last year. Net sales of FCCL during the half year increased at of PKR10.431 bn from PKR10.268 bn, up by two per cent during this period. It incurred a distribution cost of PKR120m against PKR119m in the same period last year. The administrative ex...

HeidelbergCement Board level changes

20 February 2019, Published under Cement News

Dr Bernd Scheifele will leave the Managing Board in February 2020 after 15 years as chairman. Upon conclusion of his third term at the end of January 2020, Dr Bernd Scheifele will give up the chair of the Managing Board of HeidelbergCement AG to the current Deputy Chairman, Dr Domink von Achten, until the end of January 2025. At the same time, the Supervisory Board asked Dr Scheifele to stand as candidate for Chairman of the Supervisory Board after the end of the statutory two-year coo...

HeidelbergCement achieves 10% revenue growth in 2018

19 February 2019, Published under Cement News

HeidelbergCement has presented its preliminary, unaudited figures for sales volumes, revenue and result from current operations before and after depreciation and amortisation for the 4Q18 and the whole of 2018. Group revenue rose by 10 per cent to EUR 4.7bn, up from EUR4.3bn in 2017. In 2018 the cement and clinker sales volumes of the group increased moderately by three compared with the previous year to 130Mt, up from 126Mt in 2017. Deliveries of aggregates rose slightly by one per c...