Cement News tagged: Corporate
Eagle Cement Corp records 35% increase in net profit
Philippines-based Eagle Cement Corp has recorded a 35 per cent YoY increase in net profit to PHP4.7bn (US$92.3m) for the first nine months of 2019, on the back of higher sales volumes and prices. Net sales in the 9M19 advanced 25 per cent YoY to PHP15.3bn, supported by a 19 per cent increase in sales volumes. “Eagle is poised to deliver double-digit growth towards the remainder of the year...
Republic Cement to increase capacity by up to 25%
Philippines-based Republic Cement has announced plans to expand capacity by up to 25 per cent next year on the back of increased demand for cement products. "Our capacity is hovering around 7.5Mta. We will increase it by close to 25 per cent by next year," said Nabil Francis, president, Republic Cement. The president of the company added that the plans were a reaction to the government’s c...
Cementarnica Usje sees 21% net profit rise
North Macedonia-based Cementarnica Usje reported a 21 per cent YoY consolidated net profit rise to MKD939.8m (US$16.8m) in the January-September 2019 period. The Titan-owned company’s operating revenue increased seven per cent to MKD3.58bn in the first nine months of the year. Domestic sales rose by five per cent YoY to MKD2.26bn while export sales increased by 10 per cent YoY to MKD1.20bn. ...
Taiwanese producers record mixed results in October
Taiwan’s Hsing Ta Cement has recorded a 12.5 per cent YoY fall in revenue for October 2019, decreasing to TWD638.73m (US$21m) from TWD729.87m. However, revenue in the January-October period increased 15 per cent YoY to TWD6.26bn. Elsewhere in the country, Asia Cement Corp saw an 8.4 per cent YoY dip in October revenue to TWD7.02bn from TWD7.66bn. Revenue in the 10M19 was up 6.8 per cent to T...
HeidelbergCement records 7% rise in group revenue for the 9M19
HeidelbergCement has reported a seven per cent increase in group revenue to EUR14.3bn for the first nine months of 2019, compared with EUR13.4bn in the year-ago period. Excluding consolidation and exchange rate effects, revenue advanced by four per cent YoY. Results from current operations before depreciation and amortisation rose by 17 per cent YoY to EUR2.6bn from EUR2.3bn in the 9M18. The...
Loma Negra records 2% fall in revenue for the 9M19
Argentina's Loma Negra has recorded a 2.3 per cent fall in net revenue to ARS26.74bn (US$448m) in the first nine months of 2019, compared with ARS27.36bn in the year-ago period. However, the net profit surged 176.8 per cent to ARS2.6bn from ARS944m. Adjusted EBITDA in the 9M19 climbed nine per cent YoY to ARS7.45bn from ARS6.8bn, while the margin increased to 27.8 per cent from 25 per cent i...
Buzzi Unicem sees improved cement volume and stable in concrete
Buzzi Unicem's turnover for the first nine months of 2019 was up by 13.4 per cent to EUR2423.6m, but ignoring exchange rate movements the increase would have been 9.9 per cent. Net debt at the end of September was EUR13.3m lower than a year earlier at EUR710.1m. Capital investment in the period was 19.2 per cent higher at EUR260.8m. Cement deliveries were 5.7 per cent higher at 22.13Mt, while...
Arkan sees increase in net profit for the 9M19
UAE-based Arkan Building Materials Co has recorded a net profit of AED36.13m (US$9.8m) for the first nine months of 2019, compared to AED10.2m in the corresponding period last year. However, group revenue declined 6.1 per cent YoY to AED675.50m from AED719.71m, on the back of increased competition and pressure on prices. "Achieving optimum efficiency across our business remains our utmost pr...
PT Semen Indonesia receives 9M19 profit decline
Cement producer PT Semen Indonesia received a profit decline in 9M19 on the back of surging finance costs. Although Semen Indonesia earned IDR1.3trn (US$92.85m) in net profit from January to September, the profit was a 38 per cent down from 9M18 due to increasing finance costs, which jumped 235.33 per cent YoY. According to the company's financial report released on 31 October, revenue increa...
Hilal Cement Co reports loss in 3Q19
Kuwait’s Hilal Cement Co has reported a loss of KWD52,300 (US$172,700) in the third quarter of 2019, according to a company bourse statement. However, in the first nine months of 2019 the company’s profit advanced 57.5 per cent YoY to KWD801,410 from KWD508,860.
Titan Cement Group's turnover rises by 9% in 3Q19
Titan Cement Group's 3Q19 results saw consolidated turnover rise by 8.7 per cent compared to 3Q18, EBITDA rose by 15.4 per cent and net profit increased by 25.7 per cent. In the 9M19 consolidated turnover rose by 9.7 per cent to EUR1208.5m and EBITDA grew by 5.8 per cent to EUR208.4m. However, net profit declined by 9.9 per cent in 9M19 to EUR45.3m, because of depreciation charges, part...
Star Cement sees 16% rise in net profit
India-based Star Cement reported a standalone net profit of INR550.8m (US$7.8m) for the quarter ended 30 September 2019, up 16.2 per cent YoY from INR474m in the year-ago period. The company’s net revenues increased by seven per cent to INR3.735bn in the July-September quarter whencompared with INR3.49bn in July-September 2018. Operating expenses were up 9.5 per cent YoY to INR3.105bn from...
Breedon shareholder plans to sell up to 8.3% stake
Breedon Group Plc shareholder M1 Cement Holding Ltd plans to sell up to 8.3 per cent of the company’s issued share capital via a secondary placing, according to brokerage JP Morgan Securities Plc. M1 Cement plans to sell up to around 139.7m shares in the British construction-materials company. The price of the placing will be determined through an accelerated bookbuild process to institution...
Umm Al Qura Cement returns to profits
Umm Al Qura Cement Co reported a profit of SAR18.9m (US$5.04m) in the 3Q19, when compared with a loss of SAR3.93m posted in the 3Q18. Revenues of the Saudi cement producers surged 89.7 per cent to SAR63.96m in the 3Q19, compared with SAR33.7m in the year-ago quarter, according to a bourse statement. For the first nine months of 2019, net profits surged by 719 per cent to SAR52.7m from SAR6...
Siam Cement reports 35% fall in net profit
Thailand’s Siam Cement has reported a 35 per cent fall in net profit to THB6.20bn (US$205m) for the 3Q19. However, revenue rose eight per cent YoY to THB110.33bn. Revenue from its chemicals business decreased 24 per cent YoY to THB44.05bn, while revenue from its cement and building material segment was down two per cent to THB45.32bn. The company attributed the results to the lower contribu...
JK Cement’s Satha line expected to be ready in December
India-based JK Cement is setting up a clinker grinding unit in Satha village, Aligarh district, Uttar Pradesh. The INR2.664bn (US$37.6m) project will have a capacity of 2Mta and will be built on a 6.83ha plot. Equipment will be supplied by FLSmidth. Following receipt of environmental clearance, civil work has been completed and equipment installation is currently in progress.. Completion i...