Cement News tagged under: corporate
Cementos Molins 1Q11 net profit slumps 47% YoY04 May 2011, Published under Cement NewsSpanish cement company Cementos Molins posted a consolidated net profit of EUR7m for the first quarter of 2011, down 47% YoY. The turnover, however, rose by 6.2% to EUR197m in the same period, Cementos Molins said in a filing with the national stock market regulator CNMV. The company explained that the 20.3% increase in its international operations compensated the 18.9% fall registered on the domestic market. EBITDA totalled EUR41m between January and March 2011, a YoY decline of 6.9%. |
Titan Cement 1Q net profit seen falling 69%04 May 2011, Published under Cement NewsAnalysts expect continued weakness in key Greek and US markets to weigh on Titan Cement’s first-quarter performance, only partly offset by better sales in Southeast Europe, thanks to recent expansion, and possibly in Eastern Mediterranean. A survey by six analysts shows the average revenue is expected to be EUR262.9M, down 8.1% (EUR286.1M in 1Q 2010)and average EBITDA is forecast at EUR52.7M, down 14% (EUR61.2m). Meanwhile, average net profit is estimated at EUR7.8m down 69 per cent (EUR24... |
Dyckerhoff reports considerable volume increases04 May 2011, Published under Cement NewsThe economic upturn and the mild winter led Dyckerhoff to considerable volume increases as group sales increased by 48%, all divisions contributed to the increase, the company said in a statement. Group EBITDA grew by EUR32m to EUR 22m, mainly due to the considerable volume increases, whereas price declines for its products and higher costs partly offset the positive development. Depreciation and amortisation rose by EUR7m and EBIT increased by EUR 25m. While net investment income increas... |
Vicat’s cement shipments well ahead04 May 2011, Published under Cement NewsVicat’s first quarter turnover rose by 28.8% in absolute terms, and by 18.2% on a comparative basis, to €513m. In cement, turnover was up by 26.0% to €316m, as cement shipments advanced by 25.3% to 4.02Mt. Turnover in concrete and aggregates was 30.4% higher at €186m, with aggregates shipments rising by 36.6% to 5.06Mt and ready-mixed concrete deliveries increased by 22.1% to 1.77Mm³. The French turnover rose by 28.7% to 222m, helped by more favourable weather conditions. The cement turno... |
CRH boosted by better weather04 May 2011, Published under Cement NewsCRH’s underlying sales improved by about 6% during the first four months of the year. Disposals have raised about €275m to date, with the most important single deal being the sale of the 34.8% stake in the French distributor Trialis, that had been acquired in 2008. A total of 13 acquisitions or major investments were undertaken in the period for a cost of about €135m and the currently acquisitions pipeline is looking encouraging, suggesting further deals in the months ahead. Cement volume... |
Holcim 1Q held back by input and energy costs04 May 2011, Published under Cement NewsHolcim reported higher first-quarter sales volumes in all segments, with price adjustments in several markets, however, the company said this was not enough to fully absorb the above-average cost increases for raw materials and energy sources, such as coal and petcoke, as well as for distribution. Consolidated cement deliveries rose by 7.2 per cent to 33.2Mt in the first quarter of 2011. The largest volume increases were achieved in Asia Pacific followed by Europe and Latin America. Aggrega... |
Holcim passes the 50% mark on ACC and Ambuja, India04 May 2011, Published under Cement NewsHolcim has raised its stake in Indian cement companies ACC and Ambuja Cements above 50%. Holcim spokesman Peter Gysel said the company increased its stake to 50.1% in ACC and 50.01% in Ambuja Cements through open-market purchases last week. ACC and Ambuja are among India’s largest cement companies by sales. Holcim has upped its stake in ACC to 50.1% from 49.3% after it bought 1.5 million shares and to 50.002% in Ambuja Cement from 46.4% following the purchase of 54.5 million shares, analyst... |
Sean Quinn and family removed from Quinn Group role04 May 2011, Published under Cement NewsIrish entrepreneur Sean Quinn - once said to be Ireland’s richest man - has released a statement speaking of his upset at the decision by Anglo Irish Bank to strip him of control of the Quinn Group last week – saying that, given time, he would have been able to save the business which includes the Quinn Cement operations. Now assets owned by Quinn and his family have been passed over to a receiver by the now government-controlled Anglo Irish bank. Sean Quinn was unable to repay €2.8bn of lo... |
Goldman downgrades Jaiprakesh Associates to neutral03 May 2011, Published under Cement NewsGoldman Sachs has downgraded Jaiprakesh Associates to ’neutral’ from ’buy’ and removed the stock from the Wall Street bank’s "Asia Pacific buy list" as it sees limited potential for positive surprise as high debt levels remain a concern on earnings. "Although next quarter earnings should improve on a sequential basis driven by better cement realizations, higher interest outflow and delays being seen in commissioning power and road assets may weigh the stock down, in our view," it said in a... |
Century Plyboards plans to raise US$50m03 May 2011, Published under Cement NewsCentury Plyboards plans to raise US$50m via external commercial borrowings (ECBs) at five per cent interest. Sources say that money raised via ECBs would be utilised for expanding cement capacity. Century Plyboard aims to increase its cement capacity from 1.2Mta to 3.2Mta. The money would be raised in tranches and as per requirements over the next few quarters. Company has already got arrangements in place with Allahabad bank and Bank Of Baroda for raising ECBs. |