Cement News tagged under: corporate
Brimstone secures US$189m to decarbonise cement industry26 March 2024, Published under Cement NewsBrimstone , the California-based building materials company that specialises in low-carbon cement production, has been awarded an investment of US$189m by the US Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED). The funding is to be used to finance the construction of a commercial-scale cement plant which incorporates Brimstone’s advanced decarbonisation technology. The proposed plant would produce up to 140,000tpa of high-quality ordinary Portland cement (OPC) wh... |
CEMEX sets the pace in 202325 March 2024, Published under Cement NewsCEMEX has released its Integrated Report, entitled 'Setting the Pace', which outlines the company’s strategic vision, operational performance, and value creation in 2023. Last year saw CEMEX achieve record growth in EBITDA and make significant progress in its decarbonisation efforts, reducing Scope 1 and 2 CO 2 emissions by 13 and 12 per cent, respectively, since 2020. This comes as the company launches its ‘Regenera’ waste management business globally, as part of its Urbanisation Solutio... |
Pioneer Cement coal mix strategy impacting positively25 March 2024, Published under Cement NewsPioneer Cement Ltd (PIOC), which had a market capitalisation of US$110m on 8 March, will see healthy growth in profit and dividend yields, according to AKD Research. This is based on the company's past performance and steps taken to improve margin. The research house believes that improved fuel mix results may increase profitability. PIOC has exceeded market expectations, with a drop in coal prices and an increase in local coal in the fuel mix, resulting in gross margins expanding to 32... |
Al Jouf Cement records 20% revenue advance25 March 2024, Published under Cement NewsAl Jouf Cement has reported revenue of SAR301.49m (US$80.4m) in 2023, up 19.7 per cent on the previous year. According to the company, the increase is due to improved sales volumes and average selling prices. The cement producer has also reported lower production costs backed by continued operating efficiency efforts. Operating income in 2023 came in at SAR115.83m, marking a YoY advance of 59.1 per cent. In the fourth quarter of 2023, revenue stood at SAR83.74m, up 5.4 per cent on the ... |
Northern Region Cement reports 50% drop in net profit in 202325 March 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co saw a 11.6 per cent increase in revenue to SAR689.55m in 2023 from SAR617.95m in 2022. However, net profits were down by 49.9 per cent YoY to SAR556.39 in 2023 from SAR112.45m. In the nine-month period ended on 30 September 2023, the net profits after zakat and tax reached SAR64.7m, down 14.6 per cent YoY from SAR75.72m. |
Lucky Cement is reaping the benefits of expansion25 March 2024, Published under Cement NewsAccording to AKD Research, Lucky Cement has demonstrated prowess in seizing opportunities, particularly through efficient coal inventory procurement, per management guidance. This strategy has resulted in the company achieving the highest gross margins among its peers, standing at 36.4 per cent in 1HFY23-24, with unconsolidated earnings doubling over the previous year. Similarly, consolidated earnings remained robust, driven by the growth in power subsidiary earnings (up 84 per cent YoY) a... |
UltraTech Commissions Roorkee brownfield project25 March 2024, Published under Cement NewsUltraTech Cement has commissioned 1Mta of brownfield cement capacity at Roorkee , Uttarakhand taking the Unit’s capacity to 2.1Mta. This forms part of the 22.6Mta capacity expansion announced in June 2022. With this commissioning, the company’s total grey cement manufacturing capacity in Indianow stands augmented to 138.39Mta. |
Votorantim Cimentos announces a 123% increase in net profit in 202322 March 2024, Published under Cement NewsVotorantim Cimentos has reported a 123 per cent growth in net profit in 2023 to BRL2.6bn (US$522.7m), from BRL1.2bn in 2022. The company’s consolidated global net revenue was BRL27.7bn, increasing three per cent YoY from BRL30bn in 2022. This growth in revenue was due to advantageous market dynamics in North America, Europe, Asia and Africa. In Brazil, where the company is based, total sales amounted to 37Mta, increasing marginally from 2022. Global CEO of Votorantim Cimentos, Osvaldo A... |
CEMEX reveals strategy for EBITDA growth22 March 2024, Published under Cement NewsCEMEX has outlined its strategy to achieve high single-digit EBITDA growth in the medium term. According to the company, since 2020 it has focussed on rebalancing its portfolio towards the US, increasing its percentage of EBITDA contribution from 24 to 29 per cent. CEMEX now intends to increase this to 40 per cent by expanding its growth capex and investing divestment proceeds to the region. Speaking at an investor day in New York, Fernando A González, CEO at CEMEX, said that the focus... |
CEMEX reveals strategy for EBITDA growth22 March 2024, Published under Cement NewsCEMEX has outlined its strategy to achieve high single-digit EBITDA growth in the medium term. According to the company, since 2020 it has focussed on rebalancing its portfolio towards the US, increasing its percentage of EBITDA contribution from 24 to 29 per cent. CEMEX now intends to increase this to 40 per cent by expanding its growth capex and investing divestment proceeds to the region. Speaking at an investor day in New York, Fernando A González, CEO at CEMEX, said that the focus... |