Cement News tagged: Corporate
Holcim Philippines sees 28% fall in sales for 2Q19
Holcim Philippines has reported a 17 per cent YoY fall in net attributable profit to PHP716.15m (US$13.98m) for the 2Q19, while sales dropped 28 per cent to PHP7.28bn. In the first half of 2019, attributable profit declined nine per cent to PHP1.42bn and sales decreased 18 per cent to PHP15.38bn. However, EBITDA advanced 9.5 per cent to PHP3bn. "We continued to deliver value to our custom...
Wonder Cement completes third line at Nimbahera
India’s Wonder Cement (RK Group) has launched the third line of its facility in Nimbahera, Chittorgarh, taking total capacity to 11Mta. The new capacity was built in one year at an investment of INR11bn (US$159.29m), taking the total cost of the three units to INR41bn. "This increases our overall capacity to 11Mta, which places us well on track to meet the burgeoning demand in the premium se...
Lafargeholcim Bangladesh reports 46% net profit surge
LafargeHolcim Bangladesh has announced a 46 per cent YoY increase in net profit for the second quarter of 2019, according to a recent statement. The company also saw a 15.4 per cent rise in revenue to BDT4.5bn (US$52.9m) for the 2Q19, compared to BDT3.9bn of the year-ago period. "The 2Q19 results demonstrate the strong performance trend which continues from 2018. Our focus on raising profit...
SCG reports falling revenue in Vietnam
Thailand’s Siam Cement Group (SCG) has seen a seven per cent YoY drop in its revenue from sales in Vietnam to VND7.9trn (US$339m) in the 2Q19, according to Vietnam News. Revenue from sales in Vietnam finished at VND14.6trn in the 1H19, consistent with the year-ago period, and accounted for nine per cent of the group’s total revenue. Currently, the company’s assets in Vietnam are valued at V...
LafargeHolcim doubles net income and reports 4% net sales growth
LafargeHolcim posted a like-for-like (LfL) net sales growth of 3.5 per cent YoY in the first half of 2019. Sales increased from CHF13.272bn (US$13.4bn) in the 1H18 to CHF13.059bn with gains in all regions but particularly thanks to favourable market conditions in Europe and north America. Recurring EBITDA (pre-IFRS16) increased 10.8 per cent to CHF2.662bn from CHF2.484bn in the previous year...
Eagle Materials notes record cement sales in 1Q
US-based Eagle Materials Inc has reported a six per cent YoY fall in revenue to US$370.5m for the quarter ending 30 June 2019. However, revenue in the Heavy Materials (cement, concrete and aggregates) segment saw a three per cent improvement to US$234.7m. Operating earnings decreased five per cent to US$40.6m, which has been attributed to increased fixed and freight costs alongside poor wea...
Yamama Cement reports 47% net profit increase in 2Q19
Saudi Arabia’s Yamama Cement has recorded a 46.6 per cent YoY increase in net profit for the second quarter of 2019, rising to SAR53.2m (US$14.19m) from SAR36.3m. The company’s sales saw a similarly positive result, advancing 47.6 per cent to SAR165.3m against SAR112m of the 2Q18.
Dangote Cement's group revenues slip 3% in 1H19
Dangote Cement Plc announced its unaudited results for 1H19 with group revenue reaching NGN467.7bn (US$1.291bn), down three per cent, and group EBITDA at NGN217.9bn, down 11.4 per cent. Nigerian EBITDA for Dangote Cement fell 11.6 per cent to NGN200.6bn and pan-African EBITDA slipped to NGN23.9bn, down 7.5 per cent. Net debt stood at NGN318.6bn. Group cement sales totalled 12.28Mt in 1H19,...
Kesoram Industries plans geographical expansion
India’s Kesoram Industries (Birla Group) has announced that it will look to increase the geographical spread of its cement business across India. Currently, the company has 7.5Mta of capacity focussed in the southern region. "We shall now explore high-margin markets in the country to improve bottom-line. Now, we are in south and a small part of west, we shall spread further," said P Radhakris...
Adelaide Brighton updates its forecast for 2019
Australia’s Adelaide Brighton has issued a profit warning for the 2019 period, stating that its underlying profit is expected to fall around 37 per cent YoY to AUD120-130m (US$82.6-89.6m) from AUD190.1m. The company has cut its interim dividend, cancelled ingredient imports and booked an AUD100m impairment charge, resulting in its shares posting the steepest fall in 15 years, according to Re...
HeidelbergCement reports 7% rise in revenues in 1H19
Germany-based HeidelbergCement posted revenues of EUR9.2bn, representing a seven per cent increase YoY from EUR8.4bn in the 1H18. However, market dynamics weakened in the second quarter of the year and as a result, the group’s cement and clinker sales volumes decreased by 1.4 per cent to 61Mt (1H18:61.9Mt). Excluding consolidation effects from the sale of the Maddaloni and Spoleto cement p...
Cementir Holding announces 1H19 revenues of EUR591.9m
Cementir Holding has released its results for 1H19. Revenues rose to EUR591.9m up from EUR588.5m in 1H18, while EBITDA stood at EUR110.1m, up 14 per cent compared to EUR96m in 1H18. Group net profit reached EUR27.3m compared to EUR96m in 1H18, while net financial debt fell to EUR399.1m from EUR416m at 31 March 2019. Regional cement and clinker results 1H19 Grey and white cement sales reach...
Lucky Cement profit squeezes in FY19
Lucky Cement Ltd informed the Pakistan Stock Exchange (PSX) on 29 July that its net profit after tax during FY19 stood at PKR10.5bn (US$65.16m), down 14 per cent YoY. The results were accompanied by a cash dividend of PKR6.5/share. The company overall sales volume declined by 1.8 per cent to reach 7.67Mt during the current fiscal year. The local cement sales volume registered a decline of 1...
Orient Cement sees 249% rise in net profit
India’s Orient Cement has reported a 7.5 per cent YoY rise in total income for the quarter ending 30 June 2019, rising to INR6.91bn (US$100.56m) from INR6.43bn. Net profit for the 1QFY19-20 surged 249.1 per cent to INR558.9m, compared with INR160.1m of the year-ago period.
Attock Cement profit falls in FY19
Attock Cement Pakistan Ltd (ACPL) has announced its FY19 results, reporting a net profit after tax fall to PKR2.073bn (US$12.86m) from PKR4.4bn in FY18, down 53 per cent on YoY. Along with the result, ACPL also announced a final cash dividend of PKR4/share. The topline of the company grew 26 per cent YoY during FY19 to PKR 20.781bn, led by 29 per cent YoY growth in sales volume (mainly expo...
Cemex Holdings Philippines reports improvement in 1H19
Cemex Holdings Philippines (CHP) saw a significant improvement in net profit for the first six months of 2019, reversing its previous PHP582m (US$11.39m) net loss to a PHP802m profit. Net sales increased four per cent during the 1H19 to PHP12.4bn, on the back of a six per cent rise in cement prices. In the second quarter alone, sales were up two per cent YoY to PHP6.1bn. However, domestic ce...