Cement News tagged under: Corporate
Anhui Conch Cement gets approval to sell stake09 May 2006, Published under Cement NewsAnhui Conch Cement Co Ltd said its parent has been given approval by the central government to sell a combined 14.34 per cent stake in the cement maker to MS Asia Investment Ltd and the International Finance Corp (IFC). In a statement filed to the Shanghai Stock Exchange, Anhui Conch Cement Co said the State-owned Assets Supervision and Administration Commission (SASAC) gave permission for its parent Anhui Conch Cement Group to sell 133.20 mln shares to MS Asia and 46.80 mln shares to the ... |
SCCC operating result for Q1 200609 May 2006, Published under Cement NewsThe consolidated revenues for the 1st quarter 2006 of Siam City Cement Public Company Limited reached THB 6248 million which was THB 569 million or 10.0 per cent higher than in the same period of 2005, mainly due to an increase of net sales of THB 554 million and share of profit from investments accounted for under equity method of THB 14 million. The consolidated operating result for the 1st quarter 2006 showed a gross profit of THB 2,014 million, a decline of THB 77 million or 3.7 per... |
Indocement reports higher net income09 May 2006, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk posted a net income of Rp1429.9 billion in the first quarter ending at the end of March, it said in a statement. Indonesia’s second largest cement producer said the income was 18.9 percent higher than that of the same period last year which was recorded at Rp1202.3 billion. It said the rise followed an increase in the sales price of the product as a result of a fuel price hike in the second semester of last year. Domestic sales however dropped in volume by... |
Ciments Francais Q1 2006 net profit up09 May 2006, Published under Cement NewsCiments Francais SA posted a net profit of 60.9 mln euro for the first quarter of 2006, up by 67.5 per cent year-on-year. Operating profit surged by 103.5 per cent to 148.2 mln euro with a margin of 15.7 per cent, versus 10.7 per cent. Earnings before interest, tax, depreciation and amortisation (EBITDA) came at 224.4 mln euro, up by 78 per cent The company attributed the good performance to the consolidation of Egyptian cement producer Suez Cement in April 2005 and of Egyptian ASEC Cem... |
Sabanci plans to invest more09 May 2006, Published under Cement NewsSabanci Group plans to spend up to US$3bn in the next five years building new power stations and electricity distribution systems to help feed the country’s expanding economy. The company is also anxious to maintain the pace of recent sales growth, and hopes to increase its annual revenues of US$10.6bn last year to about US$30bn in 2015, according to Guler Sabanci, chairman. Ms Sabanci said the group planned to build three more power plants in the next five years that would add more tha... |
Dyckerhoff narrows net loss, Germany08 May 2006, Published under Cement NewsDyckerhoff AG said Monday it narrowed its net loss in the first-quarter of 2006, aided by price increases as well as business growth in Eastern Europe. Net loss was EUR10m versus an EUR26m loss in the previous year. Group sales for the first quarter of 2006 increased by 13% to EUR229m. In the Germany/Western Europe division, the weak cement and ready-mixed concrete market and the long winter continued to have negative effects. Price increases were able to counterbalance the d... |
Cement credit stable on sound cash flow, Japan08 May 2006, Published under Cement NewsMoody’s Investors Service’s general outlook for the Japanese cement sector is stable, with sector companies enjoying steady cash flow and market positions, as well as continued capital structure improvement, says the rating agency in a new report. However, aggressive overseas capital expenditure may slow further improvements, as it limits the free cash flow available for further debt reduction. The domestic market - which accounts for a large portion of Japanese cement companies’ total s... |
CRH four month trading favourable05 May 2006, Published under Cement NewsCRH said that overall trading in the first four months of the year has been favourable with in particular a strong start from operations in the Americas. The company said that the year has also started well on the development front with the completion of over 20 acquisitions for a total cost of Euro 700m. Operations, in Europe Materials, the strong trading patterns evident in Ireland and Finland in the latter months of last year have continued into this year were helped by generally broad-b... |
Italcementi Q1 EBITDA, sales boosted by Egypt ops, Italy prices05 May 2006, Published under Cement NewsItalcementi SpA’s first quarter EBITDA and sales, due today, will be boosted by the inclusion of Egypt operations acquired last year, and higher Italian selling prices, analysts said. EBITDA profit is expected at EUR190.6 – EUR 238m against EUR166.5m in the first quarter of 2005, while sales are seen at EUR 1.100 - 1.316bn, against EUR 990.2m, they said. ’We are revising our estimates on Italcementi due to Lafarge’s solid results (May 2),’ said Societe Generale. ’In addition to the cons... |
SCCC’s 1Q06 earnings unexciting, Thailand05 May 2006, Published under Cement NewsBoth Bank of Thailand and Siam Cement data show a deceleration in 1Q06’s cement demand. Siam City Cement (SCCC) is expected to follow the trend as well. Decelerated domestic cement demand should be offset by price increase and better production cost control and lead to flat YoY earnings of Bt1.2bn. The results would pick up 82% QoQ due to seasonal effect. SCCC is expensive trading at PE of 15.4x, compared to the cement sector’s average of 13.1x. Limited growth for the company is expect... |