Cement News tagged: Corporate
Cahya Mata Sarawak reports 5% rise in net profit
Malaysia's Cahya Mata Sarawak Bhd (CMS) has announced a five per cent YoY increase in net profit to MYR40.76m (US$9.76m) from MYR38.98m for the first quarter of 2019, with the rise attributed to a stronger performance across its core businesses. Quarterly revenue advanced 17.8 per cent to MYR418.8m, compared to MYR354.99m in the year-ago period. The company’s cement division reported a 67 pe...
Buzzi Unicem 1Q19 benefits from better weather
Buzzi Unicem's first-quarter turnover rose by 21.7 per cent to EUR656m (US$735.2m), having fallen by 8.4 per cent a year earlier, with turnover having improved in all countries apart from Brazil. Net debt at the end of March was 16.1 per cent higher at EUR1033.5m. Cement deliveries improved by 16.9 per cent to 6Mt, while group ready-mixed concrete deliveries advanced by 7.3 per cent to 2.6Mm³....
Britain's largest cement plant has economic worth valued
Hope Cement plant (Breedon group) has had an independent economic assessment report on its contribution to the local economy, which has been estimated at GBP53m. The economic impact assessment report was commissioned from global management, engineering and development consultancy Mott Macdonald by Breedon. Its aim was to establish how much the works contributes both financially and in terms o...
Argos' consolidated revenues rise 14% in 1Q19
In the first three months of 2019, Argos reported revenues of US$693.8m, an increase of 14 per cent on 1Q18. Operating EBITDA reached US$99.39m, 3.7 per cent higher, while net profit totalled US$4.9m. Total cement volumes for Argos amounted to 3.8Mt, 4.7 per cent higher than in 1Q18, while concrete volumes rose by 2.3 per cent to 2.4Mm 3 . "These results are the reflection of a great teamwo...
Qarshi Conch Cement expected to begin plant operations in 2020
Qarshi Conch Cement’s (Anhui Conch Cement Co Ltd) new 1.2Mta cement plant in Karshi, Uzbekistan, is expected to become operational in December 2020, according to the country’s Cabinet of Ministers. The parent company attracted US$150.5m to finance the project, including the supply of materials, equipment and external infrastructure. Karshi was reportedly chosen as the location due to its abu...
Norm Cement to host International Concrete conference
Norm Cement LLC is to host an international conference in Azerbaijan this summer with International CPI Worldwide journal and ICCX (International Concrete Conference and Exhibition) Academy. The conference is entitled "Modern concrete technologies and construction directions in Azerbaijan," and will take place on 20 June 2019 at the Four Seasons Hotel in Baku. The main purpose of the confer...
Lafarge Zimbabwe invests US$25m to improve utilisation
LafargeHolcim group has unveiled a US$25m investment programme to increase utilisation at its subsidiary Lafarge Cement Zimbabwe. However, Lafarge Cement Zimbabwe said the holding group has called on the government to stabilise the availability of electricity and resolve foreign currency issues as these are key determinants to its expansion drive. Milajan Gutovic, LafargeHolcim regional ...
LafargeHolcim signs agreement to sell Philippine operations
LafargeHolcim has signed an agreement with San Miguel Corp for the sale of its 85.7 per cent share in Holcim Philippines for an enterprise value of US$2.15bn. The deal is expected to close in the 4Q19 and is subject to regulatory approval, according to a press release. The proceeds of this transaction will allow the company to improve its debt ratio by approximately 0.3 times. Following the d...
Loma Negra net revenue edges up 4% in 1Q19
Argentina’s Loma Negra, part of InterCement, reported a 3.6 per cent YoY increase in net revenue to ARS7.428m (US$183m) in the first quarter of 2019 on the back of expanding concrete sales in Argentina and growth in cement revenues in Paraguay. Consolidated adjusted EBITDA was 17.9 per cent higher YoY to ARS2.136m in the 1Q19, mainly due to cement, masonry and lime business in the domestic m...
Adelaide Brighton issues profit warning for 2019
Australia's Adelaide Brighton has warned that profits for 2019 could be 10-15 per cent lower than the AUD190.1m (US$133m) recorded in 2018, due to weaker demand in residential construction and high competition from imports. The company attributed the profit warning to "further softening of demand for construction materials in the residential market, increased competition from cement imports,...
Buzzi Unicem reports net sales of EUR2873.5m in 2018
Buzzi Unicem announced consolidated 2018 net sales of EUR2873.5m versus EUR2806.2m in 2017, up 2.4 per cent, while EBITDA stood at EUR577.2m compared to EUR508.2m in 2017. The group’s net profit amounted to EUR382.1m down from EUR391.6m in 2017. Net debt on 31 December 2018 stood at EUR890.5m, up by EUR28m from EUR862.5m at the end of 2017. At the shareholders' meeting the Board of Directors...
Sachem Head nominates two for Eagle Materials Board
Eagle Materials Inc shareholder Sachem Head Capital Management LP is nominating two people to Eagle Materials’ board, saying the company needs “new voices”. Scott Ferguson, Sachem Head’s managing partner, and Wendy Lane, board member at Willis Tower Watson plc were both nominated. Sachem Head, who reported a 8.9 per cent stake on 28 March 2019, is concerned about the “diversion” of resourc...
Hsing Ta Cement sees 32% revenues hike in the 4M19
Taiwan-based Hsing Ta Cement has reported a 38.2 per cent increase in revenues to TWD753.3m (US$24.3m) in April 2019 from TWD545.2m in April 2018. In the first four months of 2019, the cement producer saw revenues surge to TWD2.113bn, up 31.5 per cent from TWD1.607m in the 4M18.
ZAG International appoint new Managing Director
Daniel Ulestig has been appointed Managing Director, Head of Global Shipping and European Business operations of ZAG International PTE, effective 1 May 2019. Mr Ulestig takes responsibility for all of ZAG's shipping activities around the world as well as leading the company's business interests in Europe. Daniel brings extensive experience in the cement industry, specifically the shipping sec...
HeidelbergCement reports improved 1Q results due to volume and price increases
HeidelbergCement posted revenues of EUR4.238bn in January-March 2019, up 16.9 per cent when compared with the 1Q18. Like-for-like (LfL) – ie, excluding positive exchange rate effects of EUR68m – the change from the 1Q18 was 15 per cent. EBITDA jumped 58.6 per cent (25.8 per cent LfL) to EUR396m YoY while the result from current operations reached EUR60m. Key drivers were improved sales volumes...
Northern Cement announces 37% 1Q revenue rise
Saudi cement producer Northern Cement reported a more than nine-fold rise in net profits after zakat and tax in the first quarter of 2019, according to Mubasher. Net profit reached SAR15.51m (US$4.1m), up from SAR1.46m in the 1Q18. Revenues remained stable at SAR113.3m in the1Q19 when compared with the 1Q18. Total profits increased by 67.8 per cent in the three months to SAR40.1m when compar...