Cement News tagged: Corporate
Lanwa Sanstha Cement to begin operations in 2022
Sri Lanka's Lanwa Sanstha Cement is now expected to commence operations in January 2022, when it opens a US$80m plant in the Mirijjawila Export Processing Zone, Hambantota. The production capacity of the plant is estimated to be 3Mta, according to Daily News (Sri Lanka). "One of the highlights of the first-of-its-kind facility in Sri Lanka would be the emphasis on the latest technology, ...
Najran Cement sees 24% fall in profit
Saudi Arabia’s Najran Cement has posted a net profit of SAR36.1m (US$9.23m) in the third quarter of 2021, down 23.8 per cent YoY from SAR47.4m in the year-ago period. Sales also declined 20.8 per cent YoY to SAR125.9m from SAR159m in the 3Q20.
City Cement sees 26% fall in profit
Saudi Arabia's City Cement has posted a 25.6 per cent YoY decline in net profit to SAR38m (US$10.13m) in the quarter ending 30 September 2021, compared with SAR51.1m in the year-ago period. Sales also fell 20.6 per cent to SAR111.6m from SAR140.6m in the 3Q20.
Dangote Cement records 34% rise in group revenue
Nigeria’s Dangote Cement has announced a 34.2 per cent YoY increase in group revenue to NGN1022bn (US$2.49bn) for the first nine months of the year, compared with NGN761.4bn in the year-ago period. Group EBITDA also surged 45 per cent YoY to NGN514.8bn from NGN355bn in the 9M20, with its EBITDA margin up to 50.4 per cent from 46.6 per cent. “Given the strong rebound in 3Q20 following the i...
BUA Cement records 23% increase in profit
Nigeria’s BUA Cement has reported a 23.2 per cent increase in profit after tax to NGN65.91bn (US$160.54m) in the first nine months of the year, compared with NGN53.5bn seen in the 9M20. Revenue for the period also increased 19.4 per cent YoY to NGN186.9bn from NGN156.5bn. EBITDA advanced 14.8 per cent YoY in the third quarter of 2021, as the revenue increase accounted for a rise in the c...
Cementos Pacasmayo sees 25% increase in 3Q revenues
Peru-based Cementos Pacasmayo has reported a 24.5 per cent YoY increase in revenues to PEN507.2m (US$127m) in the 3Q21, on the back of higher sales volumes of cement, concrete and precast, and an increase in cement and concrete prices, in line with cost inflation. The total sales volume of cement, concrete and precast saw a 14.4 per cent YoY uptick to 937,700t with bagged cement as the large...
Trinidad Cement posts 3% decline in revenue
Trinidad Cement Ltd (TCL) has recorded a three per cent YoY decline in revenue to TTD467m (US$68.93m) during the third quarter of 2021. "Revenue for the quarter was mainly impacted by reduced cement sales attributable to adverse weather in Jamaica. On a year-to-date basis, the TCL Group recorded consolidated revenue from continuing operations of TTD1.4bn, 12 per cent higher than the same per...
Finnsement CEO adds CRH US Building Products position to duties
Finnsement CEO, Miikka Riionheimo, is set to take up a new position within the CRH Group's Building Products organisation. His position in Atlanta, USA, is senior vice president of strategy and development. For the time being, Mr Riionheimo remains the CEO of Finnsement.
Holcim sees another quarter of record profitable growth
Holcim has recorded net sales of CHF7.29bn (US$7.99bn) for the third quarter of 2021, up five per cent on a like-for-like basis compared to CHF6.46bn in the year-ago period. A recurring EBIT increase of 4.7 per cent LfL to a record CHF1.53bn was primarily driven by strong pricing and good cost management, according to the company. "I’m pleased that we have achieved a record quarter of profit...
Cemex reports net sales of US$3.8bn in 3Q21
Cemex reports consolidated net sales of US$3.8bn in the 3Q21, a rise of eight per cent versus the 3Q20. EBITDA fell by one per cent to US$740m, due mainly to supply chain disruption and a sudden rise in energy and transportation costs. Consolidated cement and aggregate sales volume grew by one per cent while ready-mix grew by three per cent and urbanisation solutions grew by 16 per cent in ...
Cementarnica Usje posts 8% revenue increase
North Macedonia’s Cementarnica Usje has announced a seven per cent YoY fall in net profit to MKD1.1bn (US$20.7m) in the first nine months of 2021. Operating revenue advanced eight per cent to nearly MKD4bn in the 9M21. Domestic sales increased five per cent to MKD2.5bn, while sales on foreign markets rose 21 per cent to MKD1.4bn. The company’s operating expenses were up 19 per cent YoY M...
Votorantim faces civil action from Federal Prosecutors’ Office
Votorantim Cimentos SA, has stated that it became aware, through the media, of a public civil action filed by the Federal Prosecutors’ Office of São Paulo (MPF-SP) related to the decision issued by the Brazilian Administrative Council for Economic Defense (CADE) for alleged anticompetitive practices in the scope of the administrative proceeding that was closed in October 2015. In this...
Siam Cement's revenue surges 31% YoY
Thailand’s Siam Cement PCL has seen its net profit decline 30 per cent YoY in the third quarter of 2021, falling to THB6.82bn (US$205m), as it recorded lower demand and an asset impairment related to a plant in Myanmar. However, revenue from sales advanced 31 per cent YoY to THB31.83bn in the 3Q21, supported by its chemical business.
Dalmia Bharat sees 11% climb in revenue
India’s Dalmia Bharat has reported a 10 per cent decline in net profit to INR2.09bn (US$27.93m) during the September quarter of FY21-22, compared with INR2.32bn in the year-ago period. “In spite of unprecedented cost-related headwinds across regions, our razor-sharp focus on operational efficiencies and execution has helped us contain our costs and deliver industry-leading performance,” said ...
Tokyo Cement Co (Lanka) outlines measures taken to address cement shortage
Sri Lanka’s Tokyo Cement Co (Lanka) has taken several immediate measures to address a cement shortage in the market, according to Dr Harsha Cabral PC, company chairman. Tokyo Cement is operating its plant in Trincomalee at the maximum installed capacity of around 170,000tpm and will continue to supply cement island wide at its highest output levels. In addition, the company has been importing...
Roof collapse at Lafarge Zimbabwe may impact performance
Lafarge Cement Zimbabwe has announced that a roof collapse at one of its cement mills is expected to have a negative impact on the group’s overall business performance in the final quarter of 2021. "The necessary measures to restore the structures and restart the mills have commenced and are well under way," Faithful Sithole, the company’s secretary said in a statement following the incident ...