Cement News tagged: Corporate
Southern Province Cement reports fall in 2018 profit
Saudi cement producer Southern Province Cement Co reported a xx per cent drop in its net profit (after tax and zakat) to SAR195m (US$52m) in 2018 from SAR370m the previous year. Sales fell from SAR1.06bn in 2017 to SAR888m in 2018 as sales prices decreased.
Raysut Cement's production rises 14% in FY18
Raysut Cement Co of Oman has released consolidated financial statements for the year ended 31 December 2018, reporting that it produced 3.398Mt of clinker and 3.326Mt of cement against 2.967Mt of clinker and 2.913Mt of cement, respectively in 2017. The overall production of clinker is higher YoY by 14.5 per cent and cement by 14.2 per cent, respectively. According to the report, out ...
Lafarge Malaysia to benefit if East Coast Rail Link is revived
Lafarge Malaysia Bhd is in a great position to benefit from a resumption of the East Coast Rail Link's (ECRL), because the cement manufacturer has won contracts under the project, says Affin Hwang Investment Bank Bhd. Lafarge Malaysia's shares rose 30 per cent yesterday on the news that the rail project might be revived, having been suspended in July 2018. "We understand that the government...
Cementarnica Usje announces fall in 2018 net profit
Macedonia’s Cementarnica Usje has reported a four per cent fall in non-consolidated net profit to MKD1bn (US$18.4m) in 2018. The company’s total operating revenue remained fairly consistent YoY at MKD4.59bn, compared with MKD4.58bn in 2017. Domestic market sales increased three per cent YoY to MKD2.9bn, while foreign sales declined three per cent to MKD1.5bn. The company’s operating expenses ...
Loma Negra reports rise in net revenue
Argentina’s Loma Negra has reported a 7.9 per cent YoY increase in net revenue to ARS26,807m (US$789m) in 2018, compared with ARS24,839m of the previous year. Adjusted EBITDA climbed 14.5 per cent to ARS7121m, while the EBITDA margin rose from 25 per cent to 26.6 per cent. "During 2018 cement demand in Argentina turned much weaker in the second half of the year resulting in a 2.6 per cent ye...
Lucky Cement revenues slip 15% in February
Taiwan-based Lucky Cement report revenues in February of TWD168.065m (US$5.4m), down 14.9 per cent when compared with TWD197.481m in February 2018. Revenues in the first two months of 2019 remained largely stable at TWD521.254m when compared with TWD517.821m in January-February 2018.
LafargeHolcim reports positive 2018
LafargeHolcim has announced that its net sales increased 5.1 per cent on a like-for-like basis to CHF27,466m (US$27,344m) for 2018. Recurring EBITDA finished at CHF6016m, up 3.6 per cent like-for-like for the full-year period, after a positive performance by the company’s cement, aggregates and ready-mix concrete segments. Net income advanced 10.8 per cent YoY to CHF1569m, compared with CHF141...
Sephaku Cement sees 6% FY18 cement volumes fall
Sephaku Cement (Dangote Group) reported FY18 cement volumes fell by 6.4 per cent YoY in South Africa. Revenue also fell 3.1 per cent to ZAR2.2bn (US$153.9m) compared with ZAR2.37bn in 2017 while EBITDA slipped to ZAR461.5m from ZAR504.2m in FY17. Sephaku Cement reported that profit margins were affected by above-inflation cost increases on energy costs such as electricity and low availabili...
Dangote Cameroon cement sales stable at 1.2Mt in 2018
Dangote Cement sold 1.2Mt of cement in Cameroon in 2018, reflecting stable sales when compared with the previous years, according to the Nigeria-based company. Dangote Cameroon said the stagnation of its performance can be explained partly by the arrival of “a new competitor” in the market, Cameroonian company Egin SA, which produced around 100,000t in 2018. In addition, following price cu...
Eagle Cement records net profit increase in 2018
Philippines-based Eagle Cement Corp has recorded a 13 per cent YoY rise in net profit to PHP4.8bn (US$91.98m) in 2018, on the back of a double-digit expansion in sales volume. Net sales advanced 11 per cent YoY to PHP16.5bn for the full-year period. In the 4Q18, the company’s net income surged 36 per cent YoY to PHP1.3bn while sales increased 19 per cent to a quarterly record of PHP4.3bn. ...
Suez Cement returns to profitability in 2018
Egypt’s Suez Cement reported a net profit of EGP121.43m (US$6.95m) in its full-year 2018 consolidated results, compared with a loss of EGP1.13bn in the previous year. Sales increased 14.9 per cent YoY to EGP7.42bn from EGP6.46bn. The company’s standalone profit also increased to EGP199.86m for 2018, against a loss of EGP441.79m in 2017.
Dangote Cement to become largest cement exporter in sub-Saharan Africa
Aliko Dangote, president of Dangote Industries Ltd, has revealed the target set for Dangote Cement’s export plans by next year. "By next year we will be the largest exporter of cement in sub-Saharan Africa with about US$600m worth of cement export to other African countries with limited access to limestone," he said. Speaking at the 2018 Dangote Cement Distributors' Award Night, Mr Dangote a...
Foundation stone laid for second Chinese cement plant in Nepal
Huaxin Cement plant, a Chinese-Nepali joint venture, at Benighat Rorang Rural Municipality in Dhading, Nepal laid the foundation stone for its new plant on 1 March 2019. Nepal's Speaker of House of Representatives, Krishna Bahadur Mahara (1st R), and Vice President of China's Huaxin Cement, Xu Gang (2nd R), attend the foundation stone-laying ceremony. This is the second plant for the Chin...
French judges drop case against former LafargeHolcim CEO
Eric Olsen, former LafargeHolcim CEO, is no longer being investigated by French judges as part of a wider investigation into whether the company helped finance terrorism in Syria. "I am very pleased that the justice system has decided to drop the investigation into me for financing terror. This decision restores my honour and will allow me to pick up the thread of my career, after I fought fo...
Lafarge Zambia appoints new CEO
Lafarge Zambia (LafargeHolcim group) has appointed Jimmy Khan as its new Chief Executive Officer. Board Chairman, Muna Hantuba, stated Mr Khan's appointment is with immediate effect. "Mr Khan holds a Bachelor of Science in Business with a major in Accounting and Information System from Virginia Tech University in the United States of America. His career with Lafarge spans 14 years, with his p...
Eagle Cement denies reports of Holcim Philippines acquisition
Eagle Cement Corp has released a clarification statement denying reports that it had submitted a bid for Holcim Philippines this week. The statement reads: "By way of clarification and response to the exchange, we advise that [the] company is not involved in any discussion for the acquisition of Holcim Philippines ("Holcim"). However, we further advise that Mr Ramon S Ang, chairman of the com...