Cement News tagged: Corporate
Corporacion Moctezuma 2022 net profit slips 3%
Corporación Moctezuma posted a 14.5 per cent YoY growth in revenues to MXN4368.7m (US$237.3m) in the fourth quarter of 2022. The company reported EBITDA of MXN1677.8m in the 4Q22, representing a YoY increase of 17.5 per cent from MXN1427.6m. Net profit in the 4Q22 advanced 11.3 per cent YoY to MCN1099.1m from MXN987.1m in the equivalent period of the previous year. The volatility of the M...
FLSmidth report 3% EBITA margin growth for cement in 2022
FLSmidth announced a positive 3.3 per cent EBITA margin improvement for its cement division in 2022, compared to -0.3 per cent in 2021. Cement EBITA amounted to DKK204m (US$29m) in 2022 compared to DKK-19m in 2021. Cement revenue increased by two per cent YoY organically and by seven per cent including favourable currency effects, reported FLSmidth. Cement EBITA continued the posit...
Yamama Cement to exceed 30,000tpd clinker production
Saudi Arabia-based Yamama Cement Company expects its clinker production to exceed 30,000tpd following the launch of commercial operations at its new factory and relocation of its seventh production line to the new facility, said the company's CEO Jehad bin Abdulaziz Al-Rasheed. The expected completion date for the relocation project is the second half of 2025, reports Zawya. The company...
Holcim announces plans for new chairman
Holcim has announced that Beat Hess, chairman of the company since 2016, has decided not to seek re-election to the Board of Directors at the AGM in May 2023. The board intends to propose Jan Jenisch, current CEO of Holcim, as the new chairman. Subject to the vote, Mr Jenisch will succeed as the chairman and continue as CEO of Holcim for a limited duration. According to the company, this dou...
Dangote Cement names new CEO
Dangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace Frenchman Michel Puchercos, who will leave at the end of February after three years at the helm. The new CEO’s tenure begins on 1 March. Mr Pathak led India’s Birla Corp before he became the chief operating officer and deputy managing director of Dangote Cement. He ...
Holcim reports net sales of CHF29,289m in 2022
Holcim reported its financial results for 2022 announcing net sales of CHF29,189m (US$31.2m) for 2022. This was a 12.9 per cent rise on a LfL basis compared to the prior year. The increase was driven by the fast expansion of the Solutions & Products division, which grew by 54 per cent compared to the previous year. Holcim CEO, Jan Jenish, said: " In 2022, we delivered record financia...
SCG reports 7% increase in revenue
The Siam Cement Public Co Ltd (SCG) reported a 14 per cent drop in sales revenue to THB122,190m (US$3510.1m) in the 4Q22 when compare with the 4Q21. The company’s EBITDA fell by 53 per cent YoY to THB10,122m while profit was down by 98 per cent YoY to THB157m. The results were affected by lower chemicals product prices and volume driven by softer demand. In the 2022 financial year, sal...
Orient Cement terminates grinding unit MoU
Orient Cement has terminated a memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) to set up a grinding unit in Maharashtra, India. According to The Hindu, the MoU was signed in September 2021. Orient Cement said APML has requested it not to pursue the venture further as “they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land r...
Heidelberg Materials' revenue hits all-time high
Heidelberg Materials has reported a 13 per cent YoY increase in group revenue to an all-time high of EUR21.1bn in 2022. Adjusted profit for the financial year also rose significantly, with adjusted earnings per share up 20 per cent YoY at EUR9.47. Good progress was seen in the company’s decarbonisation programme with specific net CO 2 emissions falling by a further two per cent. Accordin...
Three Pakistan producers post profits in 1HFY22-23
Three of Pakistan’s cement factories have posted a profit in operation between July and December of FY22-23 (1HFY22-23). However, double-digit inflation, a hike in interest rates and a sharp devaluation of the Pakistani rupee have dampened cement demand. Moreover, low GDP growth, high cost of construction materials and the cut in Public Sector Development Programmes (PSDP) saw cement dispatche...
New plant director for Holcim Jerez plant
Holcim España has appointed José María Gómez as new plant manager of the company’s Jerez plant. His work will focus on promoting innovation and sustainability through circularity, resource efficiency and development of the environment to accelerate Holcim Group ’s green growth strategy. Mr Gómez was previously head of production at the Montcada I Reixac plant. He has a degree in Envir...
Taiwan Cement fined for price fixing
Taiwan Cement Corp (TCC) is one of 18 firms fined a combined TWD213m (US$7m) for forming a ready-mixed concrete (RMC) price-fixing cartel, accord to Taipei Times. Since 2018 the companies have regularly met in person and messaged via apps to control the supply of RMC and drive up prices, reports the Fair Trade Commission. TCC faces an individual fine of TWD50m but has said that it will ap...
Mir Cement to increase capacity by 2024
Bangladesh’s Mir Cement has announced plans to raise its production capacity to 5000tpd by 2024. According to New Age Business, the company, which currently produces ordinary Portland cement and Portland pozzolana cement, has seen its capacity expand from 600tpd in 2003 to 2400tpd by 2018. As production has increased, the company has reportedly invested in dust guards to prevent dust bein...
Eurocement becomes Cemros
Eurocement has changed its name to Cemros. The rebranding is aimed at renewing the company on a new stage of development since its acquisition by Smikom in 2021 for around US$2.2bn, following an auction held by Sberbank. An internal staff competition was held to find a new company name before a vote from a shortlist. Cemros invokes the words ‘cement’ and ‘Russia’ and was suggested by Euro...
Sika confirms record EBIT for 2022
Sika has reported a record-high operating profit (EBIT) for 2022, coming in at CHF1579.7m (US$1709m), up 13.5 per cent YoY. The EBIT margin for 2022 stands at 15.1 per cent, compared to 15 per cent in the previous year. The company had already released its 2022 results in January this year, which saw sales exceed CHF10bn for the first time, but had predicted a record EBIT and an EBIT margin of...
Dalmia Cement reports 23% rise in revenue
Dalmia Cement (Bharat) Ltd has reported a 22.7 per cent YoY increase in revenue to INR33,550m (US$405.6m) in the 3QFY22-23 ended 31 December 2022. EBITDA over the same period advanced by 57.5 per cent to INR6440m, while cement volumes expanded by 11.5 per cent to reach 6.3Mt. In the 9MFY22-23, revenue improved by 21.8 per cent YoY to INR96,280m, while EBITDA declined 7.7 per cent to INR16...