Cement News tagged: Corporate
FLSmidth's group revenue rises 2% in 3Q23
FLSmidth's consolidated group revenue increased by two per cent in the 3Q23 compared to the 3Q22. Adjusted for integration costs of DKK119m (US$17m), the EBITA margin was 10.1 per cent in the 3Q23. Including integration costs, the EBITA margin was eight per cent in the 3Q23 compared to 5.9 per cent in the 3Q22. Excluding the AFT divestment gain, the underlying EBITA margin was 6.3 per cent. Th...
Votorantim Cimentos posts 36% profit growth in 3Q23
Votorantim Cimentos has posted revenue of BRL7.4bn (US$1.51bn) in the third quarter of 2023, down three per cent compared to the same period a year earlier. The decline has been attributed to “market dynamics and the negative impact of the appreciation of the Real.” Net profit over the three-month period came in at BRL824m, marking a 36 per cent increase YoY. Cement sales in the 3Q23 stood a...
Argos records EBITDA of COP742bn in the 3Q23
Argos reported that for the 3Q23 adjusted EBITDA stood at COP742bn (US$180.35m), increasing 25.4 per cent on a comparable basis versus 3Q22. The company's revenue in the 3Q23 slipped one per cent YoY to COP3087bn from COP3118bn in the year-ago period. The results were driven by strong pricing dynamics across all regions, combined with cost efficiencies. The adjusted EBITDA margin stood at 24...
Lafarge Africa reduces CO2 emissions through AF use
Lafarge Africa has reduced is CO 2 emissions from 595kg CO 2 /t in 2021 to 574kg CO 2 /t in 2022 through the use of alternative fuels and energy-efficient technologies. According to the company’s 2022 Sustainability Report, its global thermal substitution rate in 2022 stood at 13.5 per cent, compared to 9.4 per cent in 2021, reports This Day. Prince Adebode Adefioye, chairman, Lafarge ...
Titan announces 14% sales rise in 9M23
Titan 's group sales in the 9M23 increased by 14 per cent to EUR1892m YtD driven by increased volumes in all its regions and by solid pricing levels. Group EBITDA reached EUR397m YtD, up by 72 per cent as the group’s margins restored. Net profit more than doubled in the YtD to EUR198m. The group’s nine-month 2023 net profit after taxes and minority interests (NPAT) more than doubled, reachi...
Burnpur Cement posts YoY revenue growth
India’s Burnpur Cement Ltd has posted total revenue of INR434.8m (US$5.22m) in the quarter ended 30 September 2023, up from INR330.3m in the same period a year ago. A loss of INR191.5m was recorded over the September 2023 quarter from continuing operations, versus a loss of INR202.5m in the same period in 2022. Earnings per share have improved from -INR2.35 in the quarter ended 30 September...
Sol Cement to cease trading until it pays 40% of its tax bill
The Ghana Revenue Authority (GRA) has directed Sol Cement in Ghana to settle at least 40 per cent of the company’s outstanding tax debt before it can resume operations. The GRA closed the cement plant two weeks ago due to the company’s defaulting on tax payments of GH7S09m (US$60.6m), including value added tax. Sol Cement has had difficulties in meeting its tax obligation, especially as ...
Buzzi SpA announces consolidated 9M23 net sales of EUR3303m
Buzzi SpA announced that consolidated net sales in the 9M23 were equal to EUR3303m, up 9.9 per cent compared to EUR3004m in 9M22. Cement and concrete volumes fell -8.1 and -12 per cent YoY, respectively, due to a significant contraction of demand in central and eastern Europe, and to a less marked weakness in Italy and the United States. Cement and clinker sales of the group, in the f...
Holcim arrange shareholding agreement for Elite Cementos
The shareholders of the company Élite Cements SL , Grupo Simetry and Holcim España, have reached an agreement by which Holcim acquires the entire share capital of Élite Cements, thus becoming the sole partner of the company. Elite Cementos, located in the port of Castellón-el Grao, will continue to operate under the same brands and will continue its commercial activity, under Holcim Spa...
Tojikcement CJSC opens new plant
Tojikcement CJSC has opened a new cement plant in Dushanbe, the capital of Tajikistan, reports bne IntelliNews. The 3300tpd (1.089Mta) plant replaces the company’s old works, which first began operating in 1942. The new facility, which is located in the Ismoilo Somoni district of the city on a 35ha site, will manufacture a range of cements, including sulphate grades 500 and 400, for local in...
Polpaico suspends Quilicura grinding operations
Chile-based Cemento Polpaico will temporarily suspend operations at its grinding plant in Quilicura and transfer these to the Cerro Blanco plant in Til Til. The step is part of the company redistributing its production capacity nationwide due to corporate and operational restructuring, which is expected to be completed in the 1H24. The process will also seek greater logistical efficienci...
CEMEX supplies Vertua to Dubai tower
CEMEX is supplying its Vertua lower-carbon concrete for the Cavalli Tower, a 70-storey luxury residential building set to become a landmark in Dubai Marina. The tower will feature interior design by the Italian fashion designer Roberto Cavalli and architectural design by the award-winning architect Shaun Khila. CEMEX provided Vertua lower-carbon concrete with a carbon footprint approximately...
Saint-Gobain signs solar energy agreement
Saint-Gobain has signed a 14-year renewable electricity supply agreement with Alpiq Energie France. The contract covers the purchase of electricity generated by two solar farms located in Moselle, northeast France. Alpiq Energie France will supply over 500GWh of solar electricity to Saint-Gobain over the course of the agreement. As a result, 11 Saint-Gobain plants in France will use 100 per c...
Afrimat's acquisition of LSA gets Commission approval
South Africa’s Competition Commission has approved Afrimat’s acquisition of Lafarge SA , subject to a number of conditions. The deal, which is worth nearly ZAR1bn (US$54.59m), was found to raise a number of competition issues, according to the Commission, and would result in the lessening of competition in the aggregates and ready-mixed concrete sectors, reports Business Day. As a result, the...
Shree Cement reports YoY revenue growth
Shree Cement Ltd has reported standalone unaudited revenue of INR47,107.1m (US$566m) in the quarter ended 30 September 2023, down from INR51,607.8m in the previous quarter but up from the INR39,374.9m posted in the quarter ended 30 September 2022. Profit after tax in the September 2023 quarter came in at INR4913.3m, marking a decline from INR5811.2m in the previous quarter, and a significant...
Dandot Cement is still under BMR
For the quarter that ended 30 September 2023, Pakistan’s Dandot Cement Co Ltd incurred a loss of PKR69m (US$0.24m) as it remained under the modernisation phase and posted no revenue during the accounting period. No sales were reported. Dandot Cement Chairman, Muhammad Farooq Naseem, and CEO, Taha Muhammad Naseem, have optimistically reported that the company plans to come into production ...