Cement News tagged: Corporate
Moody's says WCC's profit warning is credit negative
Moody's Investors Service says West China Cement Ltd's (WCC) profit warning for 2014 is credit negative. On 29 October 2014, WCC announced that its consolidated net profit for 2014 will fall substantially from 2013, based on preliminary results for the first nine months ended 30 September 2014. "Moody's expects WCC to demonstrate a lower EBITDA margin which will in turn increase its debt/...
PT Holcim Indonesia secures loans from Bank Sumitomo
PT Holcim Indonesia Tbk said it secured loans worth IDR1trn (US$82.54m) from PT Bank Sumitomo Mitsui Indonesia, to refinance loans to its holding, Holderfin BV The Netherlands, and other financing firms. The company's total debt to its holding company reached IDR1.25trn.
Semen Indonesia 9M14 profit up 4.9%
Semen Indonesia, the country's leading cement producer, recorded a net profit of IDR4.09trn (US$336.3m) in the first nine months of this year, a 4.9 per cent increase from the IDR3.9trn recorded a year earlier. The state-owned producer’s revenues surged by 10.9 per cent during the January to September period to IDR19.3trn from IDR17.4trn in the same period of last year. However, a foreign ex...
SCCC results hurt by weaker domestic demand, higher SG&A expenses
Siam City Cement (SCCC), Thailand’s second-largest cement producer, posted a 3Q14 net profit of THB1.06bn (US$33m), down 13 per cent YoY and 29 per cent QoQ hurt in part by weaker domestic demand as well as higher Selling, General & Administrative (SG&A) expenses. The weak results are due mainly to weak domestic demand but this was partly mitigated by increased exports following the reopeni...
Pakistan: Lucky Cement first-quarter profit up 4.8%
Lucky Cement Ltd, Pakistan’s leading cement producer, saw a 4.8 per cent rise in net profit for the first quarter of the current Pakistan fiscal to PKR2.669bn (US$26m). Earnings per share (EPS) during the July-September 2014 period increased to PKR8.25 against PKR7.87 in the corresponding period last year. Gross profit increased by 5.9 per cent during the quarter as its net sales revenue impr...
Holcim and Cemex sign binding agreements on European transactions
Holcim and Cemex have signed binding agreements regarding the series of transactions in Europe originally announced last year. The main scope of the transactions in Germany and the Czech Republic remain unchanged, but the structure in Spain has been adapted with a joint organisation in the country no longer part of the deal. In accordance with the proposals, first made public on 28 August 201...
Lafarge Africa 9M14 pretax profit drops 41.2%
Lafarge Africa said its pretax profit for the first nine months of this year dropped by 41.2 per cent YoY to NGN38.08bn (US$231m). Revenue, however, rose to NGN159.39bn from NGN154.78bn previously, the company said in a filing with the Nigerian stock exchange.
Cementos Argos 3Q14 net profit jumps 69%
Cementos Argos, Colombia’s leading cement producer, posted a 69 per cent jump in net earnings for the first nine months of the year to COP217.5bn (US$111m), boosted by higher US sales. The company reported EBITDA of COP805bn (US$415m) between January and September, an eight per cent increase over the same period in 2013. Revenue was up 16 per cent to COP4.25trn. "The performance in the Unite...
Fauji Cement first-quarter profit edges ahead
Pakistan-based producer Fauji Cement on Tuesday announced a net profit of PKR602m (US$5.8m) during the first quarter (Jul-Sep) of the current fiscal, up three per cent YoY. Earnings per share increased to PKR0.45 from an EPS of PKR0.44 during the period under review. Earnings surged by 50 per cent QoQ because of the absence of a preferred dividend, which was recorded at PKR273m during the f...
Eagle Materials reports record 2Q volumes
Eagle Materials' first-half turnover to the end of September, including its share of the Texan cement joint venture with HeidelbergCement, increased by 15.2 per cent to US$616.78m. The trading profit advanced by 22.5 per cent to US$138.32m. After a net interest charge that was 18.4 per cent lower at US$7,95m, the pre-tax profit rose by 26.3 per cent to US$130.36m. The tax charge was 27.5 pe...
Siam Cement 3Q net profit down 20% YoY
Siam Cement said on Wednesday its third-quarter net profit dropped 20 per cent YoY due to weak demand for construction materials. Thailand’s largest industrial conglomerate posted July-September net profit of THB7.85bn (US$241.7m). This compared with THB9.79bn a year earlier when the company booked a gain of THB1.5bn. Analysts at Krungsri Securities expect the slowdown to continue through th...
Martin Marietta boosted by TXI acquisition
Martin Marietta Materials, with a three-month contribution from Texas Industries (TX)I, increased turnover by 30.5 per cent to US$2101.6m in the first nine months of the calendar year, while EBITDA almost doubled by rising by 99.2 per cent to US$565.4m. The trading profit rose by 26.5 per cent to US$196.3m and the net interest charge was 10.8 per cent higher at US$45m. Pre-tax profit advan...
Saudi Arabia: Tabuk third-quarter profit down 24%
Tabuk Cement Co recorded SAR21.6m (US$5.76m) net profit in the third quarter of 2014, a decline of 23.94 per cent YoY from SAR28.4m. On a quarterly basis, net earnings were down 49.88 per cent from SAR43.1m. In the first nine months of 2014, net profit amounted to SAR108.7m, down 19.66 per cent compared with SAR135.3m a year earlier.
Holcim and Lafarge formally notify EC
Lafarge and Holcim have formally notified the European Commission (EC) of their proposed merger to obtain regulatory approval and have made slight changes to the list of assets being disposed in Europe. During the pre-notification discussions which Lafarge and Holcim have had with the European Commission, the list of proposed assets for divestment in Europe has been slightly amended. Compared...
CIMAT to invest in new kiln and grinding plant
Following the strong demand in the Gabon cement market, domestic producer CIMAT will install “a latest-generation kiln with a production capacity between 3600-4000tpd. The installation will be in line with international European standards, necessary to produce high-quality cement,” said the company in a statement. The Gabon cement producer is also investing XAF23bn (US$44.5m) in the co...
Peru: Cementos Pacasmayo profits fall 17% in 3Q14
Cementos Pacasmayo reported a YoY drop in net profit of 17 per cent for 3Q14 as cement dispatches fell due to the deceleration in Peru’s economy. In the July-September quarter, the company’s profit fell to PEN40.5m (US$14m) from PEN48.8m in 3Q13. Net sales fell six per cent YoY to PEN316.2m from PEN336.4m in 3Q13. Cost of sales decreased 7.3 per cent to PEN276.2m as did output, which saw a ...