Cement News tagged: Corporate
Cementir sees 1H net profit rise of 140%
Cementir reported a 16.5 per cent rise in revenues for the first half of 2021 to EUR664.5m from EUR570.4m in the 1H20. The increase reflects an 18.7 per cent rise in the sales of grey and white cement and clinker to 5.457Mt, a 31.4 per cent increase in ready-mix concrete sales to 2.515Mm3 and a 12.2 per cent uptick in aggregates sales to 5.211Mt when compared with the 1H20. EBITDA increased ...
Titan Cement’s reports strong US and Greek revenues in the 1H21
Titan Cement reported that in the USA the positive momentum in US fundamentals continued in the first half of the year. Revenue in the USA recorded a 10.2 per cent increase in US dollar terms in the 1H21 but was almost flat in euro terms (+0.8 per cent) at EUR479.3m. US EBITDA reached EUR81.2m, up by 1.9 per cent in US dollar terms but down 6.8 per cent in euro terms when compared with t...
Eagle Materials reports cement revenues up 3% in 1QFY22
Eagle Materials Inc's financial results for the first quarter of FY22, ended 30 June 2021 saw revenue in the Heavy Materials sector, which includes cement, concrete and aggregates, joint venture and intersegment cement revenue, reach US$315m, a three per cent YoY improvement. Heavy Materials operating earnings also increased three per cent to US$67.9m primarily because of improved cement sales...
FLSmidth to acquire thyssenkrupp Industrial Solutions mining business
FLSmidth and thyssenkrupp Industrial Solutions have reached an agreement that FLSmidth will acquire thyssenkrupp’s mining business (TK Mining) for an enterprise value of EUR325m, or approximately DKK2.4bn, according to a company announcement by FLSmidth. TK Mining is a leading full-line supplier of solutions for mining systems, material handling, mineral processing and services, which is highl...
Titan Cement International SA announces in consolidated revenues of EUR821.1m in 1H21
Titan Group announced consolidated revenue amounted to EUR821.1m in the 1H21, up 4.4 per cent versus the 1H20, reflecting growing demand in most markets and a supportive pricing environment. Top line growth was held back by weaker US dollar and US dollar-linked currencies. In local currencies, growth was 11.7 per cent. Titan Group saw positive sales volume trends in all product lines. Group...
Holcim records net sales of CHF12,566m in 1H21
Holcim announced 1H21 net sales of CHF12,566m (US$13,640m) compared to CHF10,693m in the 1H20, a rise of 16.6 per cent LfL. Operating profit (EBIT) reached CHF1794 up from CHF1005 in the 1H20. Net debt rose to CHF12,438m in the 1H21 up from CHF10,662m in the 1H20. Jan Jenisch, Holcim CEO, said : "As we close H1 under our new Group identity, I sincerely thank all members of the Holcim family...
HeidelbergCement enjoys improved 1H results
HeidelbergCement’s positive sales development in the first quarter of 2021 continued in the second quarter, leading to a 9.7 per cent YoY increase in cement and clinker sales volumes to 61.8Mt in the first half of 2021 from 56.3Mt in the year-ago period. Deliveries of aggregates advanced by 7.5 per cent YoY to 145Mt from 134.8Mt in the 1H20 while ready-mixed concrete sales in the 1H21 were up ...
JSW Cement partners with new investors to accelerate growth
India-based JSW Cement has entered into definitive agreements to raise up to INR15.000bn (US$201.2m) from two global private equity investors, Apollo Global Management Inc (through its managed funds) and Synergy Metals Investments Holding Ltd. The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being issued to the investor...
Yamama Cement achieved a net profit of SAR132.6m in 1H21
Saudi Arabia-based Yamama Cement recorded a net profit after zakat and tax of SAR132.6m (US$35.3m) in the 1H21, a 24 per cent fall from SAR174.8m in the same period a year ago. The company attributed the drop in net profit to lower sales volumes. Yamama reported a net profit after zakat and tax of SAR 77.7m in 2Q21, a 53 per cent increase from SAR 50.8m in the year-ago period. The ...
Shree Cement about to start building West Bengal grinding plant
Shree Cement is preparing to start work on its INR6bn (US$80.5m) grinding unit in Bengal within a month. The new plant will have a cement grinding capacity of 3Mta which will raise the group’s cement capacity to 47Mta when complete. "This will be our first plant in Bengal. In the east, we have plants in Odisha, Chattishgarh, Bihar and Jharkhand," said H M Bangur, Shree Cement’s MD. Mr B...
GCC reports 44% increase in 2Q net income
GCC saw its consolidated net sales increased 18.1 per cent YoY to US$286.7m in the 2Q21 from US$242.8m in the 2Q20. EBITDA advanced 18.6 per cent YoY to US$97m in the 2Q21 from US$81.8m in the 2Q20. As a result, the EBITDA margin edged up from 33.7 per cent to 33.8 per cent over the same period. Net income increased 43.8 per cent to US$47.7m in the 2Q21 from US$33.2m in the year-ago period. ...
GCC reports strong 2Q21 results and prepares for expansion
GCC reported a net sales increase of 18 per cent in the 2Q21 and a rise in EBITDA of 19 per cent. The company’s net financial expenses totalled US$10m during this accounting period. GCC reported cement volumes rising by 11 per cent in the 2Q21 compared to eight per cent in 2020. Concrete sales fell by 17 per cent compared to a six per cent rise in the 2Q20. Commenting on guidance for the...
Nigeria to build new 5Mta cement plant in Gombe State
Madugu Cement is set to establish a 5Mta cement factory in Kembu and Kwali districts of Akko and Yalmatu Deba, Gombe State, Nigeria. The plant will be built by Sinoma International Engineering Company Ltd in partnership. Gombe State Governor, Muhammadu Inuwa Yahaya, said: "Your coming here is very apt and we welcome you most profoundly because we benefitted from the existence of the on...
Insee Cement steps up raw material unloading
The Hambantota International Port (HIP) recorded its highest discharge levels of bulk cargo recently, when a shipment of gypsum consigned to Insee Cement was unloaded at a rate of 24,000tpd by port operations. Thusith Gunawarnasuriya, director procurement and logistics of Insee Cement, says this was an extraordinary achievement for a Sri Lankan port in terms of speed and efficiency. ...
Caribbean Cement Co 2 years accident free
Cemex-owned Caribbean Cement Co Ltd is marking two years free from accidents at its Rockfort plant in Kingston, Jamaica. The milestone was officially reached on 15 July and fell within the company's observation of Health and Safety Week between 12-16 July. "It's a good feeling to know that we can break production records but at the same time keep our people safe, so this is definitely a bi...
Ambuja Cement records net sales of INR33.4bn
Ambuja Cement recorded net sales of INR33.420bn (US$448.9m) in the April-June 2021 quarter 2021, up from INR21.450bn in the same period last year. Sales volumes for the 2Q21 reached 6.33Mt up from 4.19Mt in the 2Q20. EBITDA rose substantially in the 2Q21 to INR9600m, up 61 per cent from INR5950m recorded in the same period last year. Profit after tax amounted to INR7230m in 2Q21, up from I...