Cement News tagged: Corporate
Construction sector reports Jamaican cement shortage
Members of the construction industry in Jamaica are reporting a cement supply shortage, as the country reaches its peak demand season. According to the Jamaica Observer, a hardware dealer on the south coast noted that it may have to cut staff if the shortage continues, adding that there has also been a hike in the price of construction materials. "What has been happening over the past two w...
FLSmidth receives SBTi validation of its carbon emission targets
FLSmidth has received validation from the Science Based Targets initiative (SBTi) for its carbon emission reduction targets. By implementing its MissionZero programme to achieve these targets, the company will help keep global warming below 1.5°C at the same time as delivering solutions to help reduce global CO 2 emissions by more than 10 per cent – and becoming carbon neutral in its own oper...
Penna Cement refiles for IPO
India’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale. The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading ...
Loma Negra posts 35% revenue surge
Argentina’s Loma Negra has seen its net revenue surge 35.4 per cent YoY to ARS13,175m (US$143m) in the first quarter of 2021, against ARS9734m in the year-ago period, mainly on the back of strong results from its cement segment. Consolidated EBITDA advanced 49.6 per cent YoY to ARS4730m, while its margin climbed to 35.7 per cent from 32.3 per cent. Net profit was up 104.4 per cent from ARS12...
Titan Group records increased 1Q volumes in the US and Greece
Titan's 1Q21 regional results saw strong volume growth in the US, particularly in the Mid-Atlantic region, while the domestic market of Greece also had encouraging results with cement sales increasing on 1Q20. Solid price trends in the US testified to the pent-up demand and a more confident restarting of activity that reflects the economy's robust growth. Demand was stable in Florida, with ...
Universal Cement sees 15% rise in revenue
Taiwan’s Universal Cement Co has posted a 14.9 per cent YoY rise in revenue to TWD1.44bn (US$51.51m) in the first quarter of 2021, compared with TWD1.25bn in the year-ago period. Net profit also surged to TWD229.47m from TWD46.21m in the 1Q20, while pre-tax profit increased to TWD258.73m from TWD50.58m.
Asia Cement records 36% increase in revenue
Taiwan’s Asia Cement has recorded a 36.1 per cent YoY increase in revenue to TWD17.88bn (US$639.38m) for the first quarter of 2021, up from TWD13.14bn in the 1Q20. Net profit advanced 330.2 per cent to TWD3.2bn from TWD743.77m in the year-ago period, while pre-tax profit reached TWD4.74bn from TWD1.57bn.
Birla Corp reports 27% net profit increase
India’s Birla Corp has posted a net profit of INR2.49bn (US$33.87m) in the 4QFY20-21, up 27 per cent YoY from INR1.95bn, as cement sales advanced 24.5 per cent YoY to 4.17Mt. Revenue for January-March 2021 also advanced 24.9 per cent to INR21.46bn. Capacity utilisation reached 108 per cent. For the full-year, Birla Corp recorded its highest-ever net profit of INR6.3bn, up 24.7 per cent YoY...
Sumitomo Osaka sees 7% climb in net profit
Japan’s Sumitomo Osaka Cement has recorded a 7.3 per cent YoY rise in net profit to JPY11.72bn (US$106.97m) for the year ended March 2021. Sales were down 2.4 per cent YoY to JPY239.27bn while operating profit climbed 3.1 per cent to JPY16.63bn. The company has forecast sales of JPY185.5bn and a net profit of JPY9bn for the year ending March 2022.
Hsing Ta Cement records 56% rise in revenue
Taiwan’s Hsing Ta Cement has recorded a 55.5 per cent YoY rise in revenue to TWD1.8bn (US$64.76m) in the first quarter of 2021, compared with TWD1.17bn in the year-ago period. Net profit also surged 211 per cent to TWD284.4m from TWD91.34m in the first quarter of 2020.
Titan Group records revenues of EUR371m in 1Q21
Titan Group's consolidated revenue reached EUR371m, down 3.6 per cent versus the 1Q20, penalised by the weaker US$ and US$-linked currencies, against otherwise solid organic growth trends. Revenue growth was 3.2 per cent in local currencies. EBITDA growth rose to EUR56.1m from EUR40.6m in 2020. In the 1Q21 net profit after taxes and minority interests grew to EUR15.3m, a EUR31m improveme...
YTL Cement to consolidate Malaysian cement businesses
YTL Cement (YTL Corp) has signed an agreement to sell its entire cement and RMC operations in Malaysia to its 76.98 per cent subsidiary Malayan Cement for a MYR5.16bn (US$1.25bn) cash and stock deal. The deal will see Malayan Cement acquire 12 companies from YTL Cement. YTL Cement’s shareholding in Malayan Cement is expected to increase to approximately 78.58 per cent upon completion of the ...
Taiheiyo Cement sees 20% net profit increase
Japan’s Taiheiyo Cement has recorded a 2.3 per cent decline in revenue to JPY863.9bn (US$7.88bn) in the year ending 31 March 2021, compared with JPY884.35bn in the previous year. However, net profit advanced 19.6 per cent YoY to JPY46.8bn from JPY39.15bn. Operating profit reached JPY63.61bn, up 4.3 per cent YoY, while pretax profit also increased 8.6 per cent to JPY65.74bn from JPY60.54bn in...
Chia Hsin Cement posts 10% rise in revenue
Taiwan’s Chia Hsin Cement has posted a 9.9 per cent YoY increase in revenue to TWD544.53m (US$19.47m) in the first quarter of 2021, compared to TWD495.3m in the year-ago period. The company also saw its net loss narrow to TWD127.1m from TWD210.1m in the 1Q20.
Dzata Cement set to begin operations at 1.2Mta plant
Ghana-based Dzata Cement is expected to begin cement production next month at its facility in Tema. Representing an investment of more than US$100m, the plant is expected to produce 1.2Mta in its first phase. "What I can say is that we are bringing the highest quality of cement into the market and with the expectation that it will stabilise the supply and pricing as well," said Philip Archer...
Summit Materials sees record adjusted EBITDA
USA-based Summit Materials has reported a US$25.5m net loss in the first quarter of 2021, compared to the US$45m in the year-ago period. Its net revenue advanced 16.4 per cent YoY to US$398.5m from US$342.4m in the 1Q20. The adjusted EBITDA also surged 166 per cent YoY to US$41.7m from US$15.7m in the January-March 2020 period. Sales volumes increased 20.7 per cent in aggregates, 13.7 per ...