Cement News tagged: Corporate
Carthage Cement reports 7% rise in 9M revenues
Tunisia-based Carthage Cement saw total turnover increase by seven per cent YoY to TND183m (US$64.6m) in the 9M19 from TND171m in the 9M18, according to African Manager. Turnover in the domestic market advanced 42 per cent YoY, improving the company’s market share to 23 per cent from 17 per cent in the previous-year’s nine-month period. The cement company increased its clinker and cement pro...
No large acquisitions for LafargeHolcim
LafargeHolcim does not expect to be bidding for BASF’s construction chemicals business, according to CEO, Jan Jenisch. Following the divestment of some of its businesses and using the proceeds to pay down debt, the cement producer is more likely to look at smaller transactions and investment in its existing operations, Mr Jenisch said. "It's not like we have a couple of billions we want to ...
Cementos Polpaico sees 23% earnings rise in 9M19
Chile-based Cementos Polpaico, owned by the Hurtado Vicuña Group, reported earnings of CLP3869.19m (US$5.32m) in the 9M19, representing a rise of 22.8 per cent YoY. In the first nine months of 2018, the company’s earnings reached CLP3150.38m. The cement producers recorded income from ordinary activities of CLP132.68bn in the 9M19, a 9.4 per cent advance when compared with CLP121.321bn in the...
Egyptian market sees higher utilisation rates in 3Q19
Egyptian cement has seen a recovery in its 3Q19 sales. Total dispatch volumes in 3Q19 for 20 cement companies researched by Naeem Holdings were up 6.3 per cent QoQ, while utilisation rates rose to 73 per cent compared to 69 per cent in 2Q19. According to the research house the companies that witnessed improved utilisation rates are Arabian Cement, Misr Beni-Suef, and Suez Cement (Heidelberg...
Qassim Cement sees profits surge in 3Q19
Saudi Arabia’s Qassim cement has seen its net profits after zakat and tax advance to SAR90.16m (US$24m) in the third quarter of 2019, from SAR5.68m in the 3Q18. The increase in profits was mainly ddriven by the rise in sales, investment return and an increase in other income. Total revenues jumped by 155.7 per cent to SAR190.17m. In the January-September 2019 period, net profits were up by 1...
Higher prices ensure Holcim Philippines receives better 9M19 earnings
In a disclosure to the Philippine Stock Exchange, Holcim Philippines Inc said EBITDA almost doubled in the 9M19 to PHP1.2bn (US$23.4m) on cost improvements across all its operations coupled with better prices of cement and aggregates. Net income for the third quarter surged to PHP457.2m from PHP176.9m in the same period of the previous year. However, sales volumes were still lower than the th...
Cement companies announce dividends in Bangladesh
Two companies, out of seven listed cement companies in the Dhaka Stock Exchange (DSE) of Bangladesh, have announced cash dividends, subject to approval in the scheduled annual general meeting of each companies later this year. According to DSE, the Board of Directors of Confidence Cement Ltd, have recommended a 15 per cent cash and 15 per cent stock dividend for the year ended on 30 June 2019...
Najran Cement posts SAR14.1m 3Q profit
Najran Cement Co saw its profits rise to SAR14.13m (US$3.77m) in the 3Q19, up from losses of SAR23.7m in the 3Q18, according to the company’s statement to the Saudi Stock Exchange. Revenues were up 80.5 per cent YoY to SAR97.23m in the July-September 2019 period when compared with the equivalent period the previous year. In the first nine months of 2019 net profits reached SAR17.6m, when c...
China Resources Cement profit edges up 3% in 3Q
China Resources Cement reported a 3.2 per cent YoY increase in 3Q profit to HKD9.31bn (US$1.19bn) in 2019 when compared with HKD9.02bn in the year-ago period. The company’s profit remained largely stable at HKD2.03bn in the 3Q19 when compared with HKD2.07bn in the 3Q18.
Cemex reports 4% decline in net sales for 3Q19
Cemex has reported consolidated net sales of US$3.5bn in the 3Q19, representing a decrease of four per cent YoY, or one per cent on a like-for-like (LfL) basis for the ongoing operations and adjusting for foreign-exchange fluctuations. Higher prices for its products, in local currency terms, in all regions were more than offset by the lower volumes seen in Mexico and the Asia, Middle East and ...
LafargeHolcim reports positive 9M19 results
LafargeHolcim has reported net sales of CHF20.2bn (US$20.36bn) in the 9M19, representing a 2.1 per cent fall YoY, or a four per cent increase on a like-for-like (LfL) basis. Recurring EBITDA (pre-IFRS16) rose to CHF4.543bn from CHF4.351bn in the year-ago period. Cement sales reached 156.4Mt in the first nine months of 2019, a modest climb of 0.7 per cent on a LfL basis. Net sales for the seg...
Cemex Latam Holdings reports consolidated 3Q19 sales of US$245m
Cemex Latam Holdings SA reports that its consolidated net sales reached US$245m during the 3Q19, a fall of 12 per cent in US-dollar terms or four per cent in local currency terms, compared to 3Q18. Operating EBITDA totalled US$46m during the 3Q19, down 26 per cent in US-dollar terms YoY. Consolidated domestic grey cement sales volumes increased by one per cent, while ready-mix and aggregates ...
Dangote Cement signs new asset management contract with GE
Dangote Cement has signed an agreement with General Electric (GE) to deploy an Asset Performance Management (APM) solution to reduce unplanned downtime and enhance performance of power generation assets at two cement plants in Obajana and Ibese, Nigeria. The project also includes extending the current service agreement for the seven GE LM6000PC aeroderivative gas turbines installed at the si...
Maple Leaf Cement incurs losses in 1QFY19
Maple Leaf Cement Factory Ltd (MLCF) of Pakistan has announced its consolidated financial results for the 1QFY19, ended 30 September 2019. It incurred a net loss of PKR982m (US$6.29m) compared to the profit of PKR586m earned in the same quarter last year, despite an increase in sales, which rose to PKR7.14bn from PKR5.65bn during the period. Increased finance costs, which expanded to PKR799...
French court postpones Lafarge Syria ruling
A French court has postponed its decision on whether to uphold preliminary charges against Lafarge after the cement company had allegedly made payments to Syrian armed organisations, including Islamic State, in 2013-14 to keep its plant in operation. The postponement of the case will be until 7 November 2019. Lafarge appealed the charges, which also include financing a terrorist enterprise, v...
DG Khan Cement sales increased in 1QFY20
DG Khan Cement Co Ltd (DGKC) of Pakistan has announced its consolidated financial results for the 1QFY20, ended September 2019. DGKC incurred a net loss of PKR1.44bn (US$9.2m) as compared to profit of PKR341m earned in the same quarter last year. The losses are attributed to an increase in the cost of sales, which increased to PKR10.25bn from PKR7.70bn during this accounting period. The fin...