Cement News tagged: Corporate
Argos records revenues of COP2.2trn in 1Q20
In the first three months of 2020, Argos (Grupo Argos) reported revenues of COP2.2trn (US$5.6bn), a figure that remains stable when compared to 2019. EBITDA, including the effect of IFRS16, was COP343bn, decreasing one per cent when compared to the same quarter of the previous year. During the period, the total volume of cement dispatched reached 3.6Mt, down 6.1 per cent, and ready-mix volum...
Tasek Corp reports 1Q20 results
Malaysia’s Tasek Corp has posted a net profit of MYR4.19m (US$971,589) in the first quarter of 2020, compared with a net loss of MYR10.42m in the year-ago period. However, revenue declined 4.2 per cent YoY to MYR131.49m from MYR137.26m in the 1Q19. The cement sector saw an operating profit of MYR3.1m against a loss of MYR13m last year. However, sales volumes fell due to the close of operatio...
Salonit Anhovo restarts cement production
Slovenian cement producer, Salonit Anhovo (Wietersdorfer Group) has resumed cement operations after 14-day shutdown due to the COVID-19 pandemic that caused reduced demand for its domestic market and exports to Italy. Production was suspended on 20 April and resumed on 4 May, as the company used the two-week break to carry out maintenance works, while continuing to make cement shipments to me...
Cemex Philippines sees net sales fall 10%
Cemex Holdings Philippines Inc announced that net sales decreased by 10 per cent during the 1Q20, versus the 1Q19, amounting to PHP5.6bn (US$110.7m). Domestic cement volumes decreased by four per cent versus 1Q19. An eight per cent increase in volumes during the first two months of the year was offset by the effects of the Enhanced Community Quarantine in Luzon and other quarantine measures ...
Qalaa Holdings records revenues of EGP14.9bn in FY2019
Qalaa Holdings of Egypt has reported total revenues of EGP14.9bn (US$945m), for its consolidated financial results for the year ended 31 December 2019, up 11 per cent YoY. Qalaa's EBITDA remained steady at EGP1.3bn in FY19 and increased by 17 per cent YoY in the 4Q19 to EGP325m. Flat full-year EBITDA was largely the result of a 60 per cent YoY decline in ASEC Holding’s EBITDA in FY19. The c...
Gharibwal Cement announces 11% fall in net sales
Pakistan’s Gharibwal Cement has announced a 10.9 per cent YoY fall in net sales to PKR7.37bn (US$46.09m) in the 9MFY19-20 ended 31 March 2020, compared to PKR8.28bn in the year-ago period. The company also reported a net loss of PKR540.2m against a profit of PKR819.8m in the 9MFY18-19. During the January-March 2020 period, net sales declined 20.3 per cent YoY to PKR2.2bn.
Cem'In'Eu prepares start-up of Rhône Ciments
Cem'In'Eu is starting up Rhône Ciments, its second cement plant in Portes-lès-Valence, Drôme region, France. "Moving to Portes-lès-Valence allows us to be in the middle of a Lyon-Marseille-Montpellier triangle but also to be connected to the Alpine valleys. We are thus at the heart of the large southeast market," explains Vincent Lefebvre, Cem’In’Eu president and founder. The company impo...
RHI Magnesita reports resilient 1Q cement business
RHI Magnesita NV reports that the Industrial division continued to perform well in 1Q20, particularly in cement. Trading activity in the steel division remained weak in Europe and South America, largely offset by a robust performance in North America. Overall, demand levels were similar to the 1Q19 with EBITA slightly ahead, in line with management expectations. Raw material prices fell fur...
Colombian cement market contracts 29% in March
Cement dispatches in Colombia fell by 28.6 per cent to 739,700t in March 2020 from 1,035,800t in March 2019, according to the latest data by the country’s statistics agency, DANE. Domestic output declined 25.6 per cent YoY to 848,600t from 1,139,900t in the year-ago period. In the first quarter of 2020 deliveries contracted by 5.7 per cent to 2.759Mt from 2.926Mt in the 1Q19 while output w...
Cement Hranice records 5% sales increase
Czech Republic-based Cement Hranice saw a 4.7 per cent YoY increase in sales to CZK1.78bn (US$71.45m) in 2019. However, the company’s net profit fell 2.3 per cent YoY to CZK501m. Domestic sales reached CZK1.347bn during the year. "Sale of cement and other products was 1.5 per cent lower in annual terms mainly due to a drop in supplies to the sister company, ZAPA Beton, in Slovakia," said...
Arkan sees 14% decrease in net profit for 1Q20
UAE-based Arkan Building Materials has seen a 13.8 per cent fall in net profit to AED10.53m (US$2.87m) during the first quarter of 2020, compared to AED12.21m in the year-ago period. Total revenues decreased 11.4 per cent YoY to AED208.17m from AED234.99m. "The challenging construction market has not been helped by the emergence of COVID-19, towards the end of the first quarter," said th...
Pakistan’s Dadabhoy Cement Industries Ltd narrows 9M loss
Pakistan-based Dadabhoy Cement Industries Ltd reported an operating loss of PKR1.73m (US$10,796m) in the nine-month period ended 31 March 2020, compared to an operating loss of PKR8.748m in the 9MFY18-19. Loss before taxation was down to PKR2.104m in the 9MFY19-20 from PKR10.303m the previous year’s nine-month result. Loss after taxation fell to PKR2.104m in the 9MFY19-20, down from PKR11....
Holcim Philippines sees 29% fall in net profit
Holcim Philippines has reported a 28.7 per cent fall in its net profit to PHP501.54m (US$9.93m) for the first quarter of 2020, compared to PHP703.86m in the year-ago period. Net sales also declined 10 per cent to PHP7.27bn due to lower prices and volumes, especially in March. "Like the rest of the country, our company was significantly affected by the COVID-19 pandemic and the government'...
Indian cement prices may increase this week
An INR20 (US$0.26) price hike on all grades of cement in India could take place on Friday, according to The New Indian Express. Before the increase, the price of a 50kg cement bag rests between INR300-80 depending on the grade. Some producers are reporting that, following the permission to start-up operations again, it will take time to scale up production because of the lack of the require...
Holcim Philippines funds local hospitals in COVID-19 fight
To contribute to the Philippine's fight against COVID-19, Holcim Philippines Inc is donating part of its corporate citizenship budget for funds towards medical supplies for hospitals assigned to treat coronavirus patients and relief items to its affected communities. The company has allocated a substantial share of the budget for corporate citizenship programme Holcim Helps to buy protective...
LafargeHolcim's net sales fall to CHF5.293bn in 1Q20
LafargeHolcim announced its 1Q20 results with net sales reaching CHF5.293bn (US$5.4bn), down 11.2 per cent from CHF5959m in the 1Q19. Recurring EBIT totalled CHF262m in the 1Q20, represening a decline of 14.1 per cent from CHF305m in the 1Q19. Jan Jenisch, LafargeHolcim CEO, said: "The company had a strong start to the year as 1Q20 performance remained well ahead of last year’s results until...