Cement News tagged: Corporate
Ciments de Bizerte sees turnover rise in 1Q20
Tunisia’s Ciments de Bizerte has seen an 18.7 per cent rise in local turnover to TND22.9m (US$7.92m) in the first three months of 2020, against TND19.3m in the 1Q19. The turnover from exports also increased as dispatches to Libya resumed during the first quarter, according to the African Manager. However, the company suspended production and sales when the general lockdown was announced. ...
Lafarge Cement Zimbabwe Ltd expects 30% decline in cement volumes in 2Q20
Lafarge Cement Zimbabwe Ltd said business volumes had declined considerably due to low demand amid the COVID-19 pandemic. The LafargeHolcim subsidiary said the lockdown will have an inevitable impact on volumes for the second quarter in 2020. "It is projected that 2Q2020 volumes will decline by 30 per cent with the possibility of spill over risks impacting the second half of the year," the c...
Tabuk Cement sees rising profit in 1Q
Saudi-based Tabuk Cement posted a rise in net profit after zakat and tax to SAR28.91m (US$7.7m) in the 1Q20, from SAR3.63m a year ago. Sales in the 1Q20 advanced by 42.9 per cent to SAR75.42m from SAR52.77m in the 1Q19 with volumes rising. Finance, and selling and marketing costs fell while the company saw gains from adjusting cash flows for a financial liability, according to Reuters.
Beni Suef Cement sees 101% surge in net profit
Egypt’s Misr Beni Suef Cement has reported a 101 per cent YoY increase in net profit to EGP59.37m (US$3.77m) in the first quarter of 2020, compared to EGP29.53m in the corresponding period of last year. However, sales declined 7.1 per cent YoY to EGP404.96m from EGP435.97m.
Southern Province Cement 1Q profit up
Saudi cement producer Southern Province Cement Co reported a net profit after zakat and tax of SAR183m (US$48.8m) for the first quarter of 2020, up 52.5 per cent from SAR120m in the 1Q19. First-quarter 2020 sales increased 33.6 per cent to SAR457m from SAR342m in the year-ago period. Local sales volumes were up 27.5 per cent YoY and export sales advanced 48.6 per cent YoY in the 1Q20. Fina...
Eagle Cement Corp net profit falls 25% in 1Q20
The Philippines' Eagle Cement Corp saw a 25 per cent YoY fall in first quarter net profit to PHP1.2bn (US$23.6m) as construction activities were halted in mid-March as part of measures to curb the coronavirus pandemic. Eagle’s net sales contracted by 16 per cent YoY to PHP4.5bn in the first three months. Cash flow fell by 14 per cent to PHP1.7bn. Prior to the enhanced community quarantine (EC...
Asia Cement Corp sees 32% decline in revenue
Taiwan’s Asia Cement Corp has posted a 32.2 per cent decline in revenue to TWD13.14bn (US$439.2m) in the first quarter of 2020, compared with TWD19.39bn in the year-ago period. Net profit also fell 74.6 per cent YoY to TWD743.77m from TWD2.93bn in the 1Q19.
AfriSam now permitted to supply certain customers
As South Africa has lowered its national coronavirus lockdown to Level 4, the supply of cement and other construction materials can now reach specific markets, according to Engineering News. "With the lowering . . . to Alert Level 4, the new regulations permit AfriSam to resume some of its production and to supply certain customers," said AfriSam sales and marketing executive, Richard Tomes...
Hsing Ta Cement sees 14% decline in revenue
Taiwan’s Hsing Ta Cement has seen a 14.3 per cent decline in revenue to TWD1.16bn (US$38.96m) for the January-March 2020 period, against TWD1.36bn in the 1Q19. The company’s net profit was also down 28.7 per cent to TWD91.34m from TWD128.05m.
Bolu Cimento reduces net loss in 1Q20
Turkey’s Bolu Cimento Sanayii has considerably reduced its non-consolidated net loss to TRY11.04m (US$1.58m) in the first quarter of 2020, compared with a TRY21.19m loss in the 1Q20. Total revenue increased 43 per cent YoY to TRY104.1m in the January-March period, while the cost of sales surged 44.9 per cent to TRY99.14m from TRY68.4m.
Titan Group sees 6% revenue increase in 1Q20
Based on robust US demand and resilience of markets in the eastern Mediterranean, Titan Group's consolidated revenue increased in the 1Q20 by 6.1 per cent, reaching EUR384.8m, despite the slowdown of business due to COVID-19 since mid-March. EBITDA declined by EUR3.7m, or 8.5 per cent YoY, reaching EUR40.6m, mainly due to the advanced costs of about EUR10m associated with the earlier timing o...
Siam Cement Plc cement sales down 4% in 1Q20
Thailand's Siam Cement Plc reported profits of THB6971m (US$217.1m), down two per cent QoQ and EBITDA slipped to THB15,424m down 126 per cent. Revenue from sales was steady at THB105,741m, with increased revenues from cement-building materials and the packaging business offsetting decreases from the chemicals division. First-quarter revenue from sales in the cement-building materials business...
Semen Indonesia Group sales edge up in April
Semen Indonesia Group (SIG) reported total sales in April 2020 of 3,060,256t, up 0.5 per cent when compared with April 2019, when the group achieved sales of 3,046,007t. Semen Indonesia (including SBI) saw sales advance in April 2020 by 0.7 per cent YoY to 2,860,091t from 2,841,406t. While domestic offtake slipped by 3.9 per cent from 2,516,121t in April 2019 to 2,419,221t one year later, e...
Gulf Cement records net loss in 1Q20
UAE-based Gulf Cement has posted a net loss of AED28.9m (US$7.87m) in the first quarter of 2020, compared to an AED1.5m profit in the corresponding period of last year. Revenues also declined 32 per cent YoY to AED88.26m from AED130.06m. The company has also reportedly seen an investment loss of AED4.6m in the first three months of the year, compared to an investment income of AED260,207 in...
Alexandria Portland Cement sees net loss contract in 1Q20
Egypt’s Alexandria Portland Cement has seen its consolidated net loss contract 54 per cent YoY to EGP35.82m (US$2.27m) in the first quarter of 2020, compared to a loss of EGP77.58m in the year-ago period. Company revenues saw a minor fall in revenue to EGP575.1m from EGP581.3m. As for its standalone business, net losses widened to EGP28.57m from EGP27.73m in the 1Q19.
Lhoist North America to construct new lime kiln at Marble Falls
After extensive technical review, Lhoist North America has received permit approval from the Texas Commission on Environmental Quality for construction of a new energy-efficient lime kiln at its Marble Falls, Texas facility. The regulatory approval paves the way for Lhoist to begin construction on the significant expansion at the facility. The new vertical kiln, which is expected to be operat...