Cement News tagged: Corporate
Cemex Philippines remains positive on construction prospects
Cemex Philippines has said it remains confident on the prospects for domestic construction activity on the back of government investment in infrastructure after seeing lower volumes and pricing in the first quarter of this year. I n the three months to the end of March 2017, Cemex Philippines consolidated net income declined by 24 per cent to PHP350m (US$7m), against pro forma net income fr...
Martin Marietta boosted by Building Materials
US-based Martin Marietta yesterday announced record consolidated net sales of US$791.7m in the first quarter of 2017, up 7.9 per cent on the same period of last year. The company also said consolidated gross profit reached a high of US$147.1m in 1Q17 compared with US$145.3m a year earlier. EBITDA totalled US$147.7m in the first quarter of this year, it added. Commenting on the performan...
ARM Cement to sell non-core unit
ARM Cement is to sell its fertiliser unit in a bid to raise cast to grow its core buisiness of cement, local media reports. The decision is part of the Kenyan company's aim to consolidate its business and focus on cost cutting, improving distribution channels as well as improving operational efficiencies. “Further, in order to remain focused on the cement business and to raise cash a...
Dangote Cement delivers strong financial performance
Dangote Cement reported a strong financial performance in 1Q17 despite a fall in volumes, with record revenues which were up by 48.1 per cent to NGN208.2bn (US$679.6m) and record EBITDA of NGN103.bn, up 42.3 per cent. “Dangote Cement produced record financial results in the first three months of 2017. Despite lower Group volumes, we delivered significantly higher revenues and EBITDA after r...
Ambuja Cement sees market improvements
Ambuja Cement, part of the LafargeHolcim group, reported that improving sales volumes, combined with favourable pricing contributed to positive 1Q17 results despite rising costs. Cement sales volume and price realisation improved in each consecutive month of the 1Q17, backed by good cement demand compared to the corresponding period a year, leading to a 5.3 per cent increase in net sales t...
Sharjah Cement 1Q profit edges ahead
UAE-based Sharjah Cement and Industrial Development Co registered a YoY rise of 1.75 per cent in 1Q17 profit. Earnings totalled AED11.6m (US$3.16m) in 1Q16 compared with AED11.4m (US$3.10m), according to a bourse filing on Monday. Shareholders equity stood at AED1.4bn in 1Q17 from AED1.39bn in 1Q16. Revenues in the first three months of this year fell by 5.09 per cent to AED165m from AED174...
Cemex hikes cement price 20% in Mexico
Cemex increased its price for grey cement in Mexico by 20 per cent YoY in 1Q17. It represents the largest first-quarter increase in at least a decade and twice the seven per cent rate of inflation. No reasons were disclosed for the rise in prices. In addition, the company also announced a 4.3 per cent increase in investments to US$730m this year. "One of our highest priorities is to re...
Morgan Stanley rates UltraTech Cement rated ‘Overweight’
UltraTech Cement has been rated ‘Overweight’ by Morgan Stanley with the EBITDA beat driven by costs, the research house notes. Morgan Stanley cited gradual improvement in industry cement demand, UltraTech Cements's positioning with timely capacity additions and its pan-India presence. Cost focus should further aid growth, it highlighted. "We believe current multiples are sustainable, as we ...
Cemex reports jump in net profit
Cemex reported a jump in net profit to US$336m in the 1Q17 from an income of US$35m in the same period of last year, as the Mexican major as the cement maker continued to sell assets and reduce debt. On a like-for-like (LFL) basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by six per cent during the 1Q17 to US$3.1bn versus the compara...
Eagle Cement moves listing date
Eagle Cement Corp has moved the listing of its shares on the Philippine Stock Exchange (PSE) from 17 May 2017 to 29 May 2017 as it awaits all the necessary regulatory approvals. The cement producer is embarking on an initial public offering (IPO) to raise PHP9.2bn (US$183.6m) from an offer of up to 575m shares at a maximum price of PHP16/share. The company’s IPO has already obtained the g...
Semen Baturaja reports IDR259bn net profit in 2016
Indonesia state-owned cement producer Semen Baturaja reported an IDR259bn (US$19.4m) in net profit last year, ANTARA News reports. At the company's annual general meeting on Thursday, shareholders decided to pay out 25 per cent, or IDR64.772bn, of the profits as dividend. Around 76.24 per cent, or IDR49.38bn of the dividends are for the state, and the remainder for the investing public, cor...
Holcim Philippines sees 'challenging' 1Q17
Lower public infrastructure spending, tighter industry competition and higher production expenses led to a dip in Holcim Philippines' first-quarter financial performance, the company reported today. The company’s net sales for the first three months of 2017 reached PHP8.8bn (US$176.1m), down 12 per cent YoY due to the challenging business environment. Holcim Philippines also booked PHP1....
Anhui Conch attributable profit up 86%
Anhui Conch Group’s net profit attributable to equity shareholders increased by 86.41 per cent YoY in the first quarter of this year to CNY2.153bn (US$312m). Operating profit rose by 139.4 per cent in the reporting period and total profits were up by 92.81 per cent. The increases were partly attributed to the YoY rise in sales volumes and selling prices of the group’s products. Revenues rose...
Yanbu reports decline in 1Q profit
Saudi-based Yanbu Cement’s profits declined by 27.49 per cent YoY to SAR124m (US$33m) in the first quarter of 2017 from SAR171m. The decline in profits was attributable to weaker demand and fierce competition, according to a bourse filing on Wednesday. Total sales reached SAR296m in 1Q17 compared to SAR303m in the comparative period of 2016.
LafargeHolcim launches Disensa in Mexico
LafargeHolcim has launched its franchise brand Disensa in Mexico. With the opening of retail stores for construction materials, the company expects to consolidate its presence in the self-construction segment. The cement producer plans to open 200 stores in 2017 and run a total 600 outlets by 2020. LafargeHolcim’s Regional Director of North America, Pascal Casanova, explained in a stat...
Yuen steps down as KHD Supervisory Board Member
Eliza Suk Ching Yuen has decided to step down from the position of Supervisory Board Member of KHD Humboldt Wedag International AG (KHD) effective at the end of the next Annual General Meeting on 23 May 2017. Mrs Yuen was elected to the board in 2012.