Cement News tagged under: egypt
Sinai Cement approves Sinai White Portland Cement exit21 June 2021, Published under Cement NewsSinai Cement Co approved the sales of its shares in Sinai White Portland Cement Co based on the fair value of Sinai White’s share, according to a filing to the Egyptian Exchange. Sinai Cement Co held a general assembly on 17 June to ratify the business continuity of the company as well as its financial results for 2019 and 2020. It incurred a consolidated net loss before minority interests of EGP147.976m in the first quarter of 2021. |
Sinai Cement sees net sales rise 34% YoY18 June 2021, Published under Cement NewsEgypt’s Sinai Cement has seen its net loss widen to EGP147.97m (US$9.45m) in the first quarter of 2021, compared to EGP105.8m in the year-ago period. However, net sales increased 33.5 per cent YoY to EGP282.63m from EGP211.73m in the 1Q20. |
South Valley Cement's net losses narrow in first quarter16 June 2021, Published under Cement NewsEgypt’s South Valley Cement has posted a net loss of EGP35.69m (US$2.28m) during the first quarter of 2021, compared to a net loss of EGP41.39m in the year-ago period. The company’s revenue declined 30 per cent YoY to EGP62.12m from EGP88.75m in the 1Q20. |
Egypt's government set to put the brakes on cement production14 May 2021, Published under Cement NewsThe Egyptian government has decided to take direct action to curb the excess production in the country's cement sector. In an attempt to ease the flow of cement, the government has proposed that cement producers reduce their production by 10 per cent. The government itself has contributed to the oversupply with the creation of its 13Mta military plant in Beni Suef cement plant in 2018, which has seen its sales fall by half, according to military executives. Under the formula proposed last... |
Egypt's cement sector sees sales rise 15% YoY15 April 2021, Published under Cement NewsEgypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco... |
Lafarge Egypt introduces EcoLabel cement08 April 2021, Published under Cement NewsLafarge Egypt has announced that it will introducing EcoLabel cement for the first time in Egypt. The new products comply with the group’s green criteria, including having a lower CO 2 footprint and recycled content. "Hydrocem Plus EcoLabel & Hydrocem EcoLabel represent the industry’s broadest range of green cement for high-performing, sustainable and circular construction," said Solomon Baumgartner Aviles, CEO of Lafarge Egypt. "We are dedicated to R&D at the forefront of carbon neutra... |
South Valley Cement sees net loss narrow in 202006 April 2021, Published under Cement NewsEgypt’s South Valley Cement Co has recorded a net loss of EGP250.59m (US$15.97m) in 2020, narrowing from an EGP316.34m loss seen in the previous year. The company’s sales declined 20.3 per cent YoY to EGP350.21m from EGP439.26m in 2019. |
Titan Cement Group records FY20 revenue of EUR1607m23 March 2021, Published under Cement NewsTitan Cement Group delivered strong results in 2020, despite the uncertainty caused by the COVID-19 pandemic. Group consolidated revenue reached EUR1607m and was stable compared to the previous year. EBITDA posted a solid increase of 7.1 per cent to EUR286.2m . This was the highest EBITDA recorded since 2010. Net profit after taxes and minorities dropped to EUR1.5m (EUR50.9m in 2019) as a result of significant non-cash charges taken representing the full write-off of the EUR46.6m goodwil... |
Arabian Cement reports net loss in 202001 March 2021, Published under Cement NewsEgypt’s Arabian Cement Co has reported an EGP122.78m (US$7.8m) net loss during 2020, compared with an EGP28.92m profit in the previous year. Sales revenues declined 20 per cent YoY to EGP2.48bn from EGP3.1bn. On a standalone basis, the company saw losses reach EGP116.21m against an EGP30.09m profit in 2019. |
Egyptian promise01 February 2021, Published under Cement NewsLafarge Egypt is among the leading companies in the domestic building materials sector with a long-standing history in the country. Despite current market headwinds and the impact of COVID-19, Solomon Baumgartner-Aviles, the newly-appointed CEO of Lafarge Egypt, explains why the country holds much promise for the group globally and the MEA region, and outlines strategies for overcoming challenges. By Lafarge Egypt, Egypt. Lafarge Egypt provides an insight into the effects of the COVID... |