Cement News tagged: Corporate
India Cement cracks down on fixed costs
India Cements reported a net profit of INR152.4m in the quarter ended 31 December 2017, which represents a 35.6 per cent decrease QoQ from INR236.7m, according to the Business Standard. In 3QFY16-17 net profit reached INR353.4m. India Cements was able to contain the loss by controlling fixed costs. The company closed down the infrastructure division and partially shut down its shipping divi...
Bamburi Cement makes new appointments
Seddiq Hassani has been appointed as the managing director of Bamburi Cement, Kenya. Mr Hassani made the move from LafargeHolcim Middle East and Africa, where he was the Head of Growth and Innovation. Mr Hassani will replace Eric Kironde who has been the acting MD for the last four months, reports The Star. "We are confident that with his strong and wide experience in operational and functi...
INC to increase production in March
Paraguay’s Industria Nacional del Cemento (INC) expects to raise output in March by 30 per cent as it commissions its new cement mill. The new mill is currently in the last stage of assembly, said INC President, Jorge Méndez. At present, the cement company produces around 50,000 bags/day.
Cemex Latin American Holdings depressed by Colombia
Cemex Latin American Holdings saw turnover decline by 5.5 per cent to US$1315.3m and EBITDA fell by 26.7 per cent to US$310.8m, with the margin coming down from 32.2 to 25 per cent. The trading profit deteriorated by 51.5 per cent to US$151.5m and after a further 0.6 per cent increase in financial expenses to US$63.3m and other items, the pretax profit dropped by 66.2 per cent to US$83.7m. Aft...
Sumitomo Osaka records a revenue increase in 9M17
Sumitomo Osaka has released its results for the nine-month period ended 31 December 2017. Revenue advanced to JPY181bn (US$166.5bn) from JPY171.1bn seen in the year-ago period. However, operating profit fell from JPY16.4bn to JPY13.7bn, with net profit marking a similar decline to JPY10.63 from JPY12.89bn. In its forecast for the year ending March 2018, the company predicts a total revenu...
Birla reports 13% rise in revenues, sees net loss narrow in 3QFY16-17
Birla Corp reported a consolidated net loss of INR-218.4m (US$-3.4m) for the quarter ended 31 December 2017, when compared to INR-412.9m in the equivalent period a year ago. Revenue from its operations was INR13.893bn, up 12.7 per cent YoY from INR12.324bn in the 3QFY16-17. EBITDA increased 7.9 per cent YoY from INR1.417bn to INR1.528bn in the quarter ending 31 December 2017. The com...
Taiwan manufacturers see positive January
Four of Taiwan's cement producers have reported positive results for January. Hsing Ta, Universal, Asia Cement Corp and Taiwan Cement Corp all saw revenues increase. Hsing Ta Cement has announced its revenue results for the January 2018 period, which feature a 42.8 per cent rise to TWD475.4m (US$16.2m) from TWD333m in January 2017. Similarly, Universal Cement Corp has realised a 26.6 p...
Sri Chakra Cement slides into loss
Sri Chakra Cement, based in the Indian state of Andhra Pradesh, has reported a net loss in INR-19.1m (US$ 297,038) in 3QFY17-18 ended 31 December 2017 when compared with INR81m in the previous quarter. The company’s net revenue declined by 8.7 per cent to INR519.7m in the October-December quarter. In 3QFY16-17 net revenues reached INR568.9m. Operating expenses during the 3QFy17-18 in...
LafargeHolcim announces new regional structuring
LafargeHolcim has also announced a new organisation structure of the group and regions. Under the new structure, 35 markets now report directly to the Region Heads, instead of 20. "This will strengthen our emphasis on developing and executing winning market strategies, thereby fully empowering the profit and loss responsibility of the countries," said Jan Jenisch, LafargeHolcim CEO. Amon...
Cemex’s lower trading profit offset by lower tax rate/interest charge
Cemex' turnover improved by 2.4 per cent in 2017 to US$13,672.2m. EBITDA declined by 9.1 per cent to US$1725.2m and the trading profit fell by 15.8 per cent to US$1523.1m. The net interest charge, however, declined by 10.9 per cent to US$1022.3m, but still giving a pretax profit 22.9 per cent lower at US$723.4m. The tax charge was some 83 per cent lower and deconsolidated activities had also b...
Buzzi Unicem expects to report EBITDA close to EUR580m
Buzzi Unicem's turnover in 2017 improved by 5.1 per cent in 2017 to EUR2806m, with a like-for-like improvement of 3.7 per cent after adjusting for the acquisition of Zillo and currency movements. The company expects to report a preliminary EBITDA of nearly EUR580m in 2017 – below their latest guidance. The cement producer attributes the shortfall to a challenging environment in December and ex...
ACC releases 2017 results
ACC has released its consolidated financial results for the final quarter and full-year period ended 31 December 2017. Cement sales increased 14 per cent in 2017, to 26.21Mt from 22.99Mt of the previous year. Net sales reached INR129bn (US$2bn) in the full-year period, compared to INR107.7bn seen in 2016. Operating EBITDA advanced 29 per cent YoY to INR19.1bn from INR14.7bn. 4Q17 Cement s...
Cherat Cement's 1H profits up 32%
Cherat Cement (CHCC) announced earnings of net profit after tax of PKR1.34bn (US$12.1m) for the July-Dec 2017 period against PKR1.02bn in the corresponding period last year, showing a YoY growth of 31.6 per cent. The company also announced in a bourse filing an interim cash dividend of PKR1/share. The company's net sales increased from PKR4.08bn to PKR7.58bn during the period. Cherat ...
LafargeHolcim to provide solutions for two port projects
LafargeHolcim will provide industrial solutions for two port projects in Ecuador and Morocco, according to SeeNews. Due to complete in 2020, LafargeHolcim Maroc will supply cement for the Nador West Med, an integrated port project. This includes precasting caissons, breakwaters and quay construction using cement suited to a marine environment. In Ecuador, the company’s local subsidiary has ...
Chip Mong See Cement inaugurates plant
Chip Mong Insee Cement Corporation has inaugurated its 2Mta plant in Kampot province, reports Reuters. Last Thursday’s ceremony was led by Cambodian Prime Minister Hun Sen. The facility was set up to meet the rising demand from the country’s construction sector, according to Hun Sen. The value of construction projects in the country rose 22 per cent YoY in 2017, reaching US$6.4bn.
George Michos appointed CEO of LafargeHolcim Maroc
George Michos has been appointed CEO of LafargeHolcim Maroc, according to Medias24. Mr Michos has replaced Marcel Cobus in the role, who has moved to take charge of the Europe region on LafargeHolcim’s executive committee. Mr Michos has also been co-opted as a director of the company. George Michos previously held several senior positions within the group. Most recently, he has been the man...