Cement News tagged under: corporate
Pretoria Portland Cement’s Trading Statement07 May 2009, Published under Cement NewsPretoria Portland Cement Company (PPC.J) advises that its earnings per share and headline earnings per share for the six months ended March 31, 2009 are expected to be between 75% and 90% less compared with the period ended March 31, 2008. Earnings per share and headline earnings per share excluding the IFRS 2 charge relating to the BBBEE transaction do not differ by more than 20% from those of the previous corresponding period. |
Holcim Indonesia prepays a debt of US60m07 May 2009, Published under Cement NewsPT Holcim Indonesia said it has serviced debt to its creditor Cemasco paying US$60m before maturity on August 31 this year. The company started prepayments in February until end of March reducing its debt to Cemasco to US$75m, company spokesman Rusli Setiawan said. The Indonesian unit of the Swiss based cement giant Holcim Ltd received a loan of US$135m from Cemasco early last year to repay a debt. The country’s third largest cement producer has agreed to buy Holcim Sdn Bhd in Malaysia fr... |
CRH expects profit cut amid bad economies, weather07 May 2009, Published under Cement NewsCRH issued a profits warning Wednesday over sharper-than-expected drops in demand in both Europe and the United States. In a trading statement before its annual general meeting of shareholders, CRH said its expected first-half 2009 profits would suffer "a sharper decline" than previously forecast. It offered no specific figures on its weaker outlook. Article Controls CRH shares led the Irish Stock Exchange lower, falling 4.8 percent to euro18.89 ($25.15). The Dublin-based company said both... |
Harsh winter hits Holcim’s volumes07 May 2009, Published under Cement NewsFirst quarter turnover at Holcim declined by 17.9% to SFr4,523m (€3,015m), or by 8.5% on a comparable basis. The operating EBITDA was down by 33.7% to SFr763m (€509m), which represents a 23.0% fall on an underlying basis. In the wake of the colder weather and the recession in North America and Europe, the trading profit fell by 53.5% to SFr343m (€229m) and the net attributable profit dropped by 80.0% to SFr74m (€491m). Net debt at the end of March amounted to SFr16,658m (€11,105m), an incr... |
Lafarge’s European & American operations pull down 1Q results07 May 2009, Published under Cement NewsCement shipments in the quarter were off by 10.3% to 31.3Mt, while turnover from cement declined by 8.6% to €2,335m and the EBITDA emerged 9.5% lower at €573m. The aggregates tonnage was down by 21.6% to 36Mt, generating a turnover 20.7% lower at €368m and a €3m loss at the EBITDA of level, while ready-mixed concrete volume declined by around 5% to 8.8Mm³, representing a turnover of €695m and an EBITDA of €187m. Lafarge’s global gypsum volumes declined by 14.6% to 163Mm², with turnover dow... |
Heidelberg presents creditors with refinancing plan07 May 2009, Published under Cement NewsHeidelbergCement presented its creditors with a refinancing plan to help the company avoid breaching loan covenants. Germany’s biggest cement maker proposed consolidating existing loans and credit lines under a single new borrowing facility and adjusting debt covenants to reflect the current market slump. In return, the Heidelberg-based company would offer a “significantly higher” margin and earlier repayment, it said in a statement today. The company, which ran up debt in the US$12bn take... |
Caribbean Cement FX losses cut into profit06 May 2009, Published under Cement NewsCaribbean Cement Company’s thrust into the export market enabled the company to mitigate against a declining domestic market but profits fell by 20 per cent during the quarter ending March 31, 2009. The cement manufacturer reported net profit of J$130m for the review quarter, which was 20 per cent lower than the J$163m net profit it earned during the three months ending March 31, 2008. The decline was due to significant foreign exchange translation losses, which were included in finance co... |
Holcim 1Q Net Profit CHF74m versus profit CHF370m06 May 2009, Published under Cement NewsHolcim Ltd reported a fall in net profit to SwFr74m (US$64m) compared with CHF370m a year ago. Sales declined to CHF4.52bn from CHF5.51bn and operating profit to CHF343m from CHF737m. Operating earnings before interest, taxes, depreciation and amortization, or operating EBITDA, declined by 34% to CHF763m. The operating EBITDA margin reached 16.9% compared with 20.9%. Cash flow from operating activities was negative in the first quarter as expected. Because of the difficult economic enviro... |
Vicat first quarter decline06 May 2009, Published under Cement NewsVicat today reported first-quarter 2009 sales of €425 million for the three months ended 31 March 2009, representing a decline of 9.8%. At constant scope and exchange rates, sales declined by 14% compared with the same period of 2008. In relation to this report, the Management Board stated: “As anticipated, the continuation of the economic downturn impacted the Group’s performance during the first quarter of 2009. In spite of this backdrop and highly unfavourable weather conditions, Vicat m... |
Vulcan first quarter turnover down05 May 2009, Published under Cement NewsReduced production and stock levels led to a 26.6% fall in Vulcan Materials’ first quarter turnover to US$600.3m and the EBITDA dropped by 39.4% to US$96.9m, while at the trading level there was a swing from a profit of US$66.8m into a loss of US$1.3m. Aggregates shipments in the quarter fell by 30.3% to 29.08Mt (32.05Mst), but the average price improved by 2.2% to US$11.31/t and the aggregates turnover was off by 25.0% to US$401.8m. Ready-mixed concrete volumes were down by 31.9%, while... |