Cement News tagged: Corporate
FLSmidth sees order intake decline 10%
FLSmidth’s order intake declined 10 per cent YoY to DKK19.554bn (US$2.86bn) in 2019, on the back of a decrease in large capital orders due to market uncertainty and a delay in customer decisions, according to a press release. "2019 has been a year of challenges but also successes. We maintained a stable growth in revenue and the service business gained momentum over the year. We see rising d...
Cherat Cement profits hit by high cost of sales in 1HFY20
Cherat Cement Co Ltd (CHCC) of Pakistan has announced its financial result for 1HFY20 through Pakistan Stock Exchange (PSX) on 12 February 2020. It posted a loss after tax (LAT) of PKR560.1m (US$3.63m) during the first six months of FY20, against a profit after tax of PKR1.02bn earned during the same period last year. The high cost of sales and financing component impacted the company's bottom...
Vicat christens its first bulk cement carrier
Vicat recently christened its first bulk cement carrier 'Capo Cinto' in Nice, France. As well as confirming the French company’s community focus in the southeastern part of the country, Vicat’s acquisition of its first bulk cement carrier, under a partnership with maritime logistics specialist ABCRM, is proof of enduring support for its business in Corsica, and it boosts the quality of the ser...
Anjani Portland Cement sees profit rise 165%
India’s Anjani Portland Cement has seen a 165 per cent increase in net profit to INR62.8m (US$881,229) for the quarter ending 31 December 2019, rising from INR23.7m in the year-ago period. However, net income declined 15 per cent YoY to INR938.1m from INR1.1bn. In the first nine months of the FY19-20, net sales fell 2.5 per cent YoY to INR3.1bn from INR3.18bn. Despite this, profit advanced 17...
Buzzi Unicem cement sales reach 29.1Mt in 2019
Buzzi Unicem's sales volumes during 2019 exceeded the level reached in the previous year in all the areas where it operates, thanks to the robust growth recorded in the USA. Group cement sales stood at 29.1Mt, up 4.3 per cent compared to 2018. Ready-mix concrete output, amounting to 12.1Mm 3 , was in line with the volumes of the previous year (+0.2 per cent). Consolidated net sales increased...
VICEM and FLSmidth announce sustainable production agreement
Vietnam National Cement Corp (VICEM) and FLSmidth have announced their cooperation “to pioneer new solutions to significantly improve the sustainability of the cement sector in Vietnam”. The focus of the agreement will be to implement technologies that considerably reduce greenhouse gas emissions, find new alternative fuel solutions and ways to further improve air quality. The cooperation b...
Taiwanese cement producers see revenue decline in January
Taiwan’s cement manufacturers have recorded a challenging start to the year, with Taiwan Cement Corp noting a 20.1 per cent decline in January revenue to TWD7.50bn (US$249.3m) from TWD9.39bn in the year-ago period. Elsewhere, Asia Cement Corp recorded a 34.1 per cent YoY decrease in revenue to TWD5.21bn for the first month of 2020. Lucky Cement saw a 16.1 per cent YoY fall in revenue to TWD2...
India Cements reports net loss in 3QFY19-20
India Cements has reported an INR53.7m (US$751,232) standalone net loss in the quarter ending 31 December 2019, compared with an INR31.3m profit in the year-ago period. Total income also declined 4.3 per cent YoY to INR11.94bn from INR12.48bn. EBITDA was down by five per cent YoY to INR1.32bn from INR1.39bn in the 3QFY18-19. Despite this, the drop in EBITDA was reportedly mitigated by a redu...
Sumitomo Osaka Cement sees 55% increase in net profit
Japan’s Sumitomo Osaka Cement has seen a 54.5 per cent YoY increase in net profit to JPY7.7bn (US$70.05m) for the nine-month period ended December 2019. Total sales saw a 3.3 per cent decline to JPY181.9bn, while operating profit rose 6.6 per cent to JPY10.7bn. For the full year ending March 2020, net profit is expected to advance 37.2 per cent YoY to JPY10.7bn and sales to decrease 2.4 per...
Taiheiyo Cement records 10.4% decline in net profit
Japan’s Taiheiyo Cement has seen a 10.4 per cent YoY decline in net profit to JPY30.5bn (US$277.5m) for the nine-month period ending 31 December 2019. Sales were also down 4.3 per cent YoY to JPY662.9bn in the 9MFY19-20, while its operating profit decreased 15.2 per cent to JPY42.1bn. Demand relating to the Tokyo Olympics and Paralympics and the reconstruction demand of the Great East Japan...
Emami Group agrees to sell cement unit to Nuvoco Vistas
India’s Emami Group has announced the sale of its 8.3Mta cement business to Nuvoco Vistas (Nirma Group), with the move valued at INR55bn (US$770.56m). "We are very proud of Emami Cement’s achievements in a short span of time and we strongly believe that in Nuvoco, we have found the right acquirer who will be able to develop the business further in the interest of all the stakeholders," said M...
Star Cement reports 18% decline in net profit
India’s Star Cement has reported an 18.2 per cent decline in net profit to INR459.2m (US$6.4m) in the quarter ending 31 December 2019, compared with INR561.4m in the year-ago period. However, net revenue increased 6.9 per cent YoY to INR4.29bn from INR4.01bn. Operating expenses rose 15.6 per cent in the 3QFY19-20, reaching INR3.71bn from INR3.21bn.
Sagar Cements reports 2% increase in production for January
India’s Sagar Cements has reported a 1.7 per cent YoY increase in standalone cement production for January 2020, rising to 228,455Mt from 224,607Mt in the year-ago period. Consolidated cement production improved 4.7 per cent to 316,657Mt from 302,558Mt. However, the company’s standalone cement sales were down three per cent to 224,271Mt from 231,208Mt in January 2019. Consolidated cement sa...
LafargeHolcim Canada Inc appoints new VP Saskatchewan and Manitoba
LafargeHolcim Canada Inc has promoted Tina Larson to the newly-reorganised role of Vice President, Saskatchewan and Manitoba. Ms Larson first joined Lafarge in 2010 as General Manager, Pipe in the Greater Calgary Area, following a 16 year career with Weyerhaeuser Canada where she held various management positions. In 2015 she was promoted to the country level role of Director, Health and Saf...
Eagle Materials reports a 5% revenue increase
US-based Eagle Materials has reported a five per cent YoY increase in revenue to US$350.2m for the quarter ending 31 December 2019. However, the company posted a net loss of US$114.6m, compared to a profit of US$57.7m in the year-ago period. Adjusted EBITDA advanced six per cent to US$118.7m in the 3QFY19-20. "We are pleased that during the third quarter of fiscal 2020 we capitalised on robu...
Shree Cement to enter western India within six months
Shree Cement will enter the market of western India within the next six months when it commissions its 2.5Mta grinding plant near Pune, Maharashtra, according to the Business Standard. "It will be our maiden entry into Maharashtra and cater to demand for the western part of the state," said H M Bangur, managing director. The plant represents an investment of INR6.25bn (US$87.8m). Since the ...