Cement News tagged: Corporate
Buzzi sees weak regional volume performance in 1H24
Buzzi Spa signalled that unfavourable weather conditions and falling sales contributed to regional performances being slightly down in the 2Q24, leading to lower cement volumes in the 1H24. Cement and ready-mix concrete sales in Italy declined in the first six months of 2024 by 5.9 per cent and 6.4 per cent, respectively, due to the abundant rainfall across the country during the spring m...
Buzzi SpA reports net profit fall of 2% in 1H24
Buzzi SpA has reported a 4.5 per cent drop in net sales to EUR2054m in the 1H24 when compared with net sales of EUR2150m in the 1H23. Cement and clinker sales fell by eight per cent to 12.017Mt from 13.057Mt in the 1H23. Ready-mix concrete sales decreased by 8.8 per cent to 4.664Mm 3 from 5.116Mm 3 in the 1H23. The company's consolidated EBITDA reached EUR553m, down 3.9 per cent on the ...
Eastern Province Cement sees 20% rise in 1H net profit
Saudi cement producer Eastern Province Cement Co posted a sales revenue of SAR585m (US$156m) in the first six months of 2024, representing a 29.1 per cent increase from SAR453m in the 6M23. The advance has been attributed to higher cement and precast sales volumes and values. In addition, reduced losses from share results of an associated company, lower other expenses, enhanced gains from in...
Cemex exits Dominican Republic market
Cemex has signed a US$950m agreement for the sale of its operations in the Dominican Republic. The transaction includes an export businesses to Haiti. The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, SL, through a subsidiary, and its strategic partners, as buyers. The divested assets mainly consist of one cement plant ( 2.4M...
Kunda sees 6% drop in revenue in 2023
Heidelberg Materials Kunda AS 's sales revenue declined by 6.1 per cent YoY to EUR37.8m in 2023. The majority of this revenue, or EUR35.5m, was generated in Estonia with smaller revenues from the Swedish market (EUR1.3m) and Latvia (EUR1m), according to the company’s annual report. Cement volumes saw a 24 per cent drop due to a drop in construction volumes and higher prices. In addition, ce...
JK Lakshmi Cement sees surge in 1Q net profit
JK Lakshmi Cement Ltd has reported consolidated busines results for the period ended 30 June 2024. The company posted a net profit of INR1.5bn (US$18.6m) for the quarter, up from the INR748m profit in the equivalent period of the previous year, marking an increase of 108.7 per cent YoY. During the April-June 2024 period, net revenue declined by 11.6 per cent YoY to INR14.4bn from INR16.3...
Holcim Philippines appoints new president and CEO
Nicolas George has been appointed as the new president and chief executive officer of Holcim Philippines . Mr George, who took up the role on 1 August 2024, takes over from Horia Adrian, who will become the head of decarbonisation for the Holcim Group in the Asia, Middle East and Africa region after more than three years as the head of Holcim Philippines. Prior to his new appointment, Mr ...
Votorantim's divestment allows the Chinese to enter Tunisia
This week the Tunisian cement market captured attention, as Votorantim intends to divest its assets in the country, making way for the Chinese to enter this north African market. Sinoma Cement Co Ltd wants to pay up to US$145m to buy the 1.8Mta Jbel Oust cement plant and its subsidiary Granulats Jbel Oust. CNBM, and its two listed units of Tianshin Material and Sinoma International Eng...
JK Lakshmi Cement to merge three subsidiaries
JK Lakshmi Cement's board has approved the merger of three of the company's subsidiaries: Udaipur Cement Works (UCWL), Hansdeep Industries and Trading Co, and Hiddrive Developers and Industries. The appointed date for the merger is set for 1 April 2024. The Scheme of Arrangement is expected to become effective in the 2H24. Key details of the merger include the merger of Udaipur Cement Works, ...
Heidelberg Materials embraces AHS at Texas quarry
Heidelberg Materials is deploying US-based Pronto’s Autonomous Haulage System (AHS) at its Lake Bridgeport quarry in Texas. The move follows the successful pilot of the system in 2023. Pronto specialises in commercial transportation with its AHS designed to perform in the most challenging off-road situations as well as improving safety, reducing costs and increasing productivity. At the ...
Nuvoco Vistas Corp posts 6% uptick in April-June revenue
India-based Nuvoco Vistas Corp saw its consolidated revenue from operations for the April-June 2024 quarter decline by six per cent YoY to INR26.36bn (US$314.8m) as lower volumes and weaker prices affected the company's result. The group sold 4.8Mt of cement, down from 5Mt in the year-ago quarter. Consolidated EBITDA for the quarter stood at INR3.48bn, down more than 13 per cent from a yea...
Maple Leaf Cement is diversifying into the Pakistan fertiliser business
Maple Leaf Cement Factory Ltd (MLCF) has entered the lucrative Pakistani fertiliser business. According to the company’s notification to the Pakistan Stock Exchange (PSX) on 29 July, MLCF plans to enter the sector through the acquisition of additional shares and control of Agritech Ltd (AGL), a fertiliser plant located north of Mianwali City in Punjab that produces and sells urea and granula...
Titan Group reports 1H net profit up 34%
In the 1H24 Titan Group achieved consolidated sales growth of 7.6 per cent, reaching EUR1323m, with all regions supporting top-line growth and overall volumes increasing, leading to the delivery of another strong performance. Cement pricing was firmly upheld, exhibiting low regional variances, while selective price increases were performed in aggregates and ready-mix concrete. EBITDA for the ...
Molins records revenues of EUR692m in the 1H24
Molins 1H24 results saw revenues of EUR692m, slightly lower than the 1H23, with positive impact of selling prices and negative impact of lower volume and currency fluctuations, especially in Argentina due to the decline in activity linked to the country's economic situation. In the 1H24 EBITDA achieved EUR189m, a five per cent increase compared to the same period of previous year, highlig...
Caribbean Cement reports gains in 1H24
Jamaica-based Caribbean Cement Co Ltd (CCCL) has announced unaudited revenue of JMD7666m (US$49m) in the quarter ended 30 June 2024. This compares to JMD7475m in the same period a year earlier. Gross profit advanced from JMD3679m in the June 2023 quarter to JMD3885m in the June 2024 quarter while consolidated net income over the same time frame improved from JMD2156m to JMD2350m. Basic earni...
Heidelberg Materials acquires Carver Sand & Gravel
Heidelberg Materials North America has entered into a definitive purchase agreement to acquire Carver Sand & Gravel, the largest aggregates producer in the Albany, New York, area. Included in this acquisition are four quarries, three sand and gravel pits, two asphalt plants, 70Mt of aggregate reserves, a logistics business and about 200 employees. Heidelberg Materials and Carver Companies ha...