Cement News tagged: Corporate
Breedon joins London Stock Exchange's Premium Listing segment
Breedon has announced its admission to the Premium Listing segment of the main market of the London Stock Exchange and the simultaneous cancellation from trading on the AIM market at 8.00h on 17 May 2023. Rob Wood, CEO, commented: “Today marks a significant moment in Breedon’s history as we celebrate our move from AIM to the Premium Listing Segment of the Official List and to trading on t...
Pakistan cement production output fall in 9MFY23
The political unrest, fragile economy, high-interest rates and inflation are now reflected in the production data of large Pakistan-industry industries. On top of this, restrictions on raw materials import also dent industrial progress. The overall output of Pakistan's Large-Scale Manufacturing Industries Index (LSMI) has shown a decline of 8.11 per cent during July- March 2022-23 compared ...
James Hardie Industries posts record results
James Hardie Industries has announced record global net sales of US$3777.1m for the fiscal year 2023, ending 31 March 2023, up four per cent YoY. Adjusted EBIT over the same period declined four per cent to US$779.8m with the adjusted EBIT margin falling two percentage points to 20.6 per cent. Operating cash flow generation of US$607.6m in fiscal year 2023 was driven by profitable organic s...
Vicat builds new 74,000t clinker dome
Vicat is building a new clinker hall for its Montalieu-Vercieu cement plant. The new 62m diameter silo will have a capacity of 74,000t of clinker. The next stage of the work, from May 2023, is the construction of the metal frame of the roof, as well as the conveyor and the aerial gallery connecting with the plant. Vicat teams (DPI, Béton Vicat, Ciment Vicat, Delta Pompage)...
New administrator for Savannah Cement announced
Harveen Gadhoke of Adili Associates has been appointed to turn around impoverished Savannah Cement with the view of recovering KES10bn (US$72.8m) owed to KCB and Absa Bank Kenya. Savannah Cement has been in court for the past year, disputing the debt of over KES7bn owed to KCB Bank and over KES3bn owed to Absa Bank. The cement firm has been facing financial challenges for the past three ...
Nathdwara Cement commissions 0.8Mta of brownfield capacity
Nathdwara Cement Ltd , UltraTech Cement ’s wholly owned subsidiary has commissioned 0.8Mta of brownfield cement capacity at Neem Ka Thana , Rajasthan, India. The company along with its subsidiary now has 17.05Mta grey cement capacity in the state of Rajasthan and its total grey cement manufacturing capacity, including that of Nathdwara Cement, now stands at 129.95Mta in India.
Saint-Gobain sales up 5% YoY in 1Q23
Saint-Gobain has reported “solid” sales growth in the opening three months of 2023 with like-for-like sales up 4.7 per cent to EUR12,406m, compared to EUR12,007m in the same period a year earlier. According to the company, prices were up 10.2 per cent over the 1Q23, driven by price increases implemented in 2022 and certain additional measures taken locally at the start of 2023, which generat...
Arabian Cement reports 17% drop in 1Q profit
Arabian Cement Co posted a net profit after zakat and tax of SAR49.2m (US$13.1m) in the 1Q23, down 17.4 per YoY from SAR41.9m. It was 40.2 per cent higher QoQ when compared with SAR35.1m in the 4Q22. The company’s sales declined 7.4 per cent YoY to SAR240.1m in the 1Q23 when compared with SAR259.3m in the equivalent period of the previous year, according to Mubasher.
Empresa Colombiana de Cementos appoints new MD
Empresa Colombiana de Cementos and its Alión brand have named Martha Patricia Quintero Valderrama as the company’s new managing director. She succeeds Juan Martínez Gilsanz, who will be leading the global business of aluminate cement for the Spanish cement producer. Ms Quintero Valderrama has more than 25 years of experience in the building materials industry and has been Alión’s commerci...
Buzzi Unicem posts 1Q23 consolidated net sales of EUR955.9m
Consolidated net sales for Buzzi Unicem in the 1Q23 reached EUR955.9m, a rise of 19.5 per cent compared to EUR8000.1m the 1Q22. However, Buzzi Unicem reported to a decline in sales volumes for the group in the first three months of 2023, both for cement (-8.8 per cent) and ready-mix concrete (-12.2 per cent). The strengthening of cement prices offset lower volumes in sales. Cement sales...
Udaipur Cements Works sees revenue rise YoY
Udaipur Cement Works Ltd has reported revenue from operations of INR10,322.6m (US$125.6m) in the year ended 31 March 2023. This compares to INR8811m in the same period a year earlier. Net profit over the same timeframe has fallen from INR486.6m to INR358.6m with total expenses expanding from INR8126.9m to INR9817.8m, driven by higher power and fuel costs. Earnings per share in the year ended...
Ambuja Cements adds 8Mta capacity
Ambuja Cements is expanding its clinker capacity by 8Mta at its Bhatapara and Maratha units on the highest ESG standards with 42MW of waste heat recovery system, the ability to utilise 50 per cent alternative fuels and raw materials, and the provision to operate on green power. According to the company, the capacity expansion projects will enable the production of 14Mta of Blended Green ...
Hail Cement returns to profit in 1Q23
Saudi Arabian cement producer Hail Cement Co saw revenue decline by 9.9 per cent YoY to SAR61.85m (US$16.5m) in January-March 2023 from SAR68.61m. The company posted a profit of SAR18.51m in the 1Q23, an improved results when compared with net losses after zakat and tax of SAR-6.89m in the year-ago period. The company attributed the increased profitability to a reduction in costs of sales ...
Universal Cement reports reports lower 1Q profit
Taiwan-based Universal Cement Corp reported revenue of TWD1835m (US$59.4m) in the January-March 2023, up 19.8 per cent when compared with the equivalent quarter of 2022, when revenue was TWD1532m. However, pretax profit more than halved from TWD728.8m in the 1Q22 to TWD315.5m in the 1Q23. Net profit was down 60.6 per cent YoY to TWD272.9m in the 1Q23 from TWD691.9m.
Votorantim Cimentos revenue jumps 18% in 1Q23
Votorantim Cimentos has reported global revenue of BRL5.8bn (US$1.17bn) in the first quarter of 2023, up 18 per cent YoY. Adjusted EBITDA over the same period advanced by 85 per cent to BRL779m, with a positive impact on the EBITDA margin, which stood at 13 per cent in the 1Q23, marking an increase of four percentage points on the 1Q22. The company ended the 1Q23 with a net profit of BRL78m,...
FLSmidth reports 6% rise in cement revenue in 1Q23
In the 1Q23 FLSmidth’s cement revenue increased by six per cent excluding currency effects, and by nine per cent excluding Russia, when compared to the 1Q22. Cement EBITA continued the positive trend and increased by 28 per cent compared to the equivalent period in 2022. The corresponding Cement EBITA margin was 4.3 per cent in the 1Q23. Consolidated group revenue increased by 27 per cent e...