Cement News tagged: Corporate
Siam City Cement 1Q sales rise, net profit hit by higher costs, Thailand
Siam City Cement Co (SCCC), Thailand’s second-largest cement producer, reported a decline in operating and net profit for the 1Q13 despite a rise in sales as higher electricity and transport costs negatively affected results. Net profit for the three months to the end of March 2013 was THB1.12bn (US$37.7m), down 5.4 per cent on the same quarter of last year. Sales, however, were up 8.4 p...
Thatta Cement signs joint venture agreement with Cementia
Pakistan cement producer Thatta Cement has signed a joint venture agreement with Cementia Holding for a new grinding plant in Sri Lanka. Cementia, based in Switzerland, is part of the Lafarge group and specialises in the trade and seaborne delivery of clinker, cement and cementitious products. “We wish to inform that today M/s Thatta Cement Company Limited (THCCL) has executed a Joint ...
Cementos Argos issues US$765m to finance expansion plans
Colombia's leading cement producer Cementos Argos has issued COP1.4trn (US$765m) worth of preferred shares to finance expansion plans. The company sold the 182 million shares at COP7,700 each to both domestic and foreign investors, receiving offers worth COP2.1trn, the company said in a statement. It may sell another 32 million shares in a second round at the same price per share, it s...
Asia Cement raises US$220m from sale of five-year bond
Asia Cement has raised US$220m from the sale of a five-year, zero-coupon convertible bond which it plans to use to repay maturing bonds. Due to strong demand, the deal was upsized in full, or by 10 per cent. The transaction came after the Taiwanese company’s share price on Monday hit its highest close since December. It is the second US dollar CB out of Taiwan this year after Far Eas...
Cementos Portland Valderrivas revises 2012-21 business plan, Spain
Spain's leading cement producer, Cementos Portland Valderrivas, has revised its business plan for 2012-21 after recording a loss of EUR27.7m in the first quarter of 2013. The company, which is controlled by the contracting group Fomento de Construcciones y Contratas, has announced its intention to dispose of non-core assets and temporarily close plants due to the continuing decrease of the ...
Taiheiyo Cement full-year pretax profit seen beating estimates
Japan’s leading cement producer, Taiheiyo Cement Corp, is expected to have posted a 70 per cent YoY rise in pretax profit for the fiscal year to the end of March 2013. Net profit is expected to have beat forecasts of JPY30.5bn to reach around JPY32bn, according to a Nikkei Report. Sales are believed to have increased by three per cent to approximately JPY750bn while volume grew at least five...
Cost cuts, improved pricing boost Holcim 1Q
Higher prices, cost savings from its efficiency programme as well as the sale of a stake in Cement Australia helped Holcim compensate for harsh first-quarter winter weather which dragged on sales. Consolidated net sales for the first three months of the year were 7.2 per cent lower at CHF4.3bn (EUR3.5bn) and operating EBITDA fell by 9.5 per cent to CHF650m, the main reason for which, Holcim...
HeidelbergCement net loss widens, confirms 2013 outlook
HeidelbergCement said its first-quarter loss widened in the first quarter of 2013 compared to a year ago as sales were impaired mostly by a weak European market. However, the German cement major reported a rise in operating income and has confirmed its 2013 outlook. Group share of the after-tax loss was EUR235m in the first quarter of 2013, wider than the EUR208m loss a year earlier. O...
CRH sees US operations offsetting weaker European market
In trading statement released today, CRH said the first four months of 2013 were affected by adverse weather conditions but expects growth in the second half to be led by its US operations. Combined with a challenging economic environment, most of CRH’s European operations experienced lower activity and sales declined 12 per cent (approximately €0.3bn) in the first four months of the year co...
Asia Cement Corp plans US$200m convertible bond issue – report
Taiwan-based Asia Cement Corp is planning a US$200m convertible bond issue to repay debts, according to Dow Jones Newswires Tuesday. The Taiwanese company is selling the five-year zero-coupon bond convertible into its Taipei-listed ordinary shares at an indicative price range of TWD46.13 and NT$48.00, representing a premium of 23-28 per cent above the stock's Tuesday closing price of ...
Lafarge Wapco pretax profit rises over 20%, Nigeria
Lafarge Wapco's first-quarter pretax profit rose by 20.64 per cent YoY to NGN7.19bn (US$45.5m), compared to NGN5.96bn in the same period of last year. Revenues rose to NGN23.32bn compared to NGN22.61bn in the comparative period of 2012, it said in a filing with the Nigerian Stock Exchange. Lafarge Wapco operates three adjacent plants in Ewekoro in Ogun State, southwest Nigeria, with a ca...
Lafarge sales down on 1Q weather effect, confirms 2013 goals
Lafarge reported a six per cent decline in sales in the three months to the end of March as it was impacted by harsh winter weather conditions and production issues in Algeria and Egypt. However, the group said its performance and innovations targets remain on track and the company is on course to achieve its net reduction goal of less than EUR10bn this year. First-quarter volumes were nota...
Italian and French winters again disrupt Italcementi
Italcementi's first-quarter turnover declined by 9.3 per cent to €964.8m and the running EBITDA fell by 32.7 per cent to €88.5m. The €21.3m trading profit a year earlier dropped to a €16.5m loss and the pre-tax loss jumped from €3.4m to €36.9m, though the net interest charge was 10.1 per cent lower at €25.7m. The net attributable loss jumped by 59.9 per cent to €78.2m. Net debt at the end ...
Boral's 3Q earnings hit by weak residential market, Australia
Australian building materials major, Boral Ltd, announced that continued weakness in the domestic housing sector and weaker-than-expected results from its Construction Materials and Building Products operations adversely impacted its third quarter earnings. In a recent trading statement, the company said it now expects its net profit before one-off items to 30 June 2013 to be in the range ...
Tax write back boosts ACC and Ambuja Cements 1Q, India
Holcim's Indian cement interests, ACC and Ambuja Cements, managed to post an improved first-quarter performance YoY despite a decline in sales, largely due to a writeback of income-tax provisions during the March quarter and an additional depreciation recognised for the March quarter last year. Both companies, in which the Swiss major holds a 50.3 per cent stake each, follow the calendar ...
Mixed first-quarter results for Indonesia's top three
Indonesia's top three cement producers have posted a mixed set of results for 1Q13, as Semen Indonesia and PT Indocement report a rise in net profits but Holcim Indonesia feels the pinch from an increasingly competitive market. The country's largest cement producer, state-owned PT Semen Indonesia reported a 22.3 per cent increase in net profit to IDR1.24trn in the first three months of this...