Cement News tagged: Corporate
Cemex sees consolidated net sales rise by 2% in 1Q20
Cemex announced a like-for-like consolidated net sales increase of two per cent during the 1Q20 to US$3.1bn compared to the 1Q19. Operating EBITDA rose by one per cent to US$534m in the 1Q20. The company reported higher prices for products in local currency terms in most regions, as well as higher volumes for three core products in the USA and Asia, Middle East and Africa regions, and higher...
Breedon Group prepares to progressively reopen facilities
Breedon Group Plc plans to progressively reopen some operations in a number of regions in Great Britain and in the Republic of Ireland, where customer demand supports it and where the company can open safely. Breedon Group Plc closed the majority of its sites on 26 March 2020 with more than 80 per cent of its staff furloughed in the UK or on temporary lay-off in the Republic of Ireland on ful...
Anhui Conch Cement sees net profit decrease 19%
China-based Anhui Conch Cement has seen its net profit fall 19.2 per cent YoY to CNY4.91bn (US$693.3m) in the first quarter of 2020, compared to CNY6.08bn in the 1Q19. Revenue also declined to CNY23.21bn from CNY30.5bn last year. The company has not disclosed its guidance for future earnings.
Cemex Latam Holdings sees an 11% decline in 1Q20 net sales
Cemex Latam Holdings (CLH) announced consolidated net sales of US$214m in 1Q20, a decline of 11 per cent compared to 1Q19. Operating EBITDA reached US$46m in the period, down 12 per cent YoY. Consolidated prices of grey cement and aggregates rose by three per cent and 11 per cent, respectively in 1Q20. Consolidated volumes of grey cement, ready-mix and aggregates declined by 11, 25 and 33 per...
China Shanshui Cement records 29% revenue fall
China Shanshui Cement has recorded a 29 per cent fall in operating revenue to CNY1.83bn (US$258.83m) in the first quarter of 2020, compared to CNY2.58bn in the corresponding period of last year. The quarterly attributable loss has also widened to CNY382.6m from CNY210.9m, according to Reuters.
Cementos Pacasmayo reports 4% fall in revenue
Peru’s Cementos Pacasmayo has seen a 4.4 per cent YoY fall in revenue to PEN299.3m (US$88.88m) in the first quarter of 2020, against PEN313.2m in the 1Q19. Net income dropped 64.5 per cent YoY to PEN10.7m from PEN30.1m. Consolidated EBITDA also decreased 22.8 per cent YoY to PEN72.3m, compared to PEN93.6m in the corresponding period of last year. Total cement production volumes across th...
SCG reports 6% fall in revenue in the 1Q20
Thailand’s Siam Cement Group (SCG) has seen a six per cent YoY drop in revenue to THB105bn in the first quarter of 2020. Profit decreased 40 per cent YoY to THB6.97bn, due to the declining performance of its chemicals business on the back of decreased product margins. The company’s cement building materials segment reported a four per cent YoY decline in revenue to THB46.2bn, attributed to ...
GCC sees 11% rise in consolidated net sales for 1Q20
Mexico’s Grupo de Cemento de Chihuahua (GCC) has announced an 11 per cent increase in consolidated net sales to US$181.4m for the first quarter of 2020. EBITDA also advanced 18.4 per cent YoY to US$45.3m from US$38.3m, with the EBITDA margin rising to 25 per cent from 23.4 per cent. "Both our divisions delivered strong results in the first quarter of the year, as the economic impacts of the ...
Qizilqumsement reports 78% surge in net profit
Uzbekistan’s Qizilqumsement, the country’s largest producer, reported a 78.3 per cent increase in net profit to US$6.8m in the first quarter of 2020, according to Trend News. Net revenue advanced 16.7 per cent YoY to US$43.4m in the 1Q20, while gross profit was up 6.8 per cent to US$14.4m.
Caribbean Cement reports 2% revenue increase
Jamaica-based Caribbean Cement reported a modest two per cent YoY improvement in revenue to JMD4.54bn (US$33.49m) for the first quarter of 2020. However, overall consolidated net income decreased 57 per cent YoY to JMD500m. The company also noted that it had implemented protocols to protect employees while also serving requirements and protecting cash flows during the COVID-19 pandemic. "W...
Suez Cement announces new chairman
Egypt’s Suez Cement Group has appointed Ambassador Yasser El-Naggar as the new chairman of the group, effective from 23 April. Mr El-Naggar has succeeded Hayrullah Hakan Gurdal in the role. Mr El-Naggar has previously served as principal deputy minister of planning and was a member of the senior management overseeing the implementation of Egypt's 2030 Vision. Elsewhere, the company has also ...
Namangan Cement launches construction of second line
Uzbekistan's Namangan Cement LLC has launched the construction of a second line at its facility in Namangan, Chust district. The company was founded in 2019 and produces 200,000tpa of cement from the first stage of production. After the second stage is commissioned, the facility’s capacity will rise to 1.1Mta. The new line is expected to be launched at the end of 2021, according to Uzbekist...
Coal and crude prices beneficial for cement industry, says DG Khan Cement
Two of DG Khan Cement's senior management, Raza Mansha, CEO, and Farid Noor Ali Fazal, director, commented that falling coal and crude prices in international markets would reduce the cost of cement production in Pakistan, according to the company's 9MFY20 report. They also anticipate a rise in cement demand on the back of government big hydroelectric dam projects. According to the report, co...
Ambuja Cements has seen a 7% increase in net profit
India’s Ambuja Cements has seen a 6.8 per cent increase in its consolidated net profit to INR7.43bn (US$97.5m) for the first quarter of 2020, compared to INR6.95bn in the year-ago period. However, revenue from operations declined 8.5 per cent YoY to INR62.5bn in the 1Q20, following a decline in volumes due to the country’s lockdown status. On a standalone basis, Ambuja Cements saw a 6.5 ...
Huaxin Cement reports 65% fall in 1Q20 profit
China’s Huaxin Cement has reported a 65 per cent YoY decline in net profit to CNY354.1m (US$50.06m) for the first quarter of 2020, according to Reuters. However, the company had posted a 22.4 per cent YoY rise in net profit to CNY6.3bn for the full-year 2019 period.
Vortex makes face masks in fight against COVID-19
In the midst of the COVID-19 pandemic, employees at Vortex designed and produced cleanable and reusable face shields for Salina Regional Health Center, Kansas, USA. Initially, the visor frames were 3D printed using a design that has been shared across the globe to create shields during the pandemic. Vortex engineers and programmers enhanced this design for its router and water jet programmes,...